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How do dealers price contemporary art in a world where objective criteria seem absent?Talking Pricesis the first book to examine this question from a sociological perspective. On the basis of a wide range of qualitative and quantitative data, including interviews with art dealers in New York and Amsterdam, Olav Velthuis shows how contemporary art galleries juggle the contradictory logics of art and economics. In doing so, they rely on a highly ritualized business repertoire. For instance, a sharp distinction between a gallery's museumlike front space and its businesslike back space safeguards the separation of art from commerce. Velthuis shows that prices, far from being abstract numbers, convey rich meanings to trading partners that extend well beyond the works of art. A high price may indicate not only the quality of a work but also the identity of collectors who bought it before the artist's reputation was established. Such meanings are far from unequivocal. For some, a high price may be a symbol of status; for others, it is a symbol of fraud. Whereas sociological thought has long viewed prices as reducing qualities to quantities, this pathbreaking and engagingly written book reveals the rich world behind these numerical values. Art dealers distinguish different types of prices and attach moral significance to them. Thus the price mechanism constitutes a symbolic system akin to language.

Anumber of critics who have written on Browning believe that the Duke's little chat with the emissary of the Count in “My Last Duchess” constitutes a clever man's instructions as to the sort of behavior he expects of his next wife. Mrs. Sutherland Orr, for example, says that the Duke's “comments on the countenance of his last Duchess plailnly state what he will expect of her successor.” Others, like Edward Berdoe, S. S. Curry, Ethel C. Mayne, William Lyon Phelps, and Ina B. Sessions, not to mention numerous editors and anthologists, find a similar purpose in the Duke's monologue. Although Berdoe's reading of the poem (p. 282) is perhaps not typical, it summarizes what the other critics have in mind: “When the Duke said ‘Fra Pandolf’ by design, he desired to impress on the envoy, and his master the Count, the sort of behavior he expected from the woman he was about to marry. He intimated that he would tolerate no rivals for his next wife's smiles. When he begs his guest to ‘Notice Neptune—taming a sea horse,‘ he further intimated how he had tamed and killed his last duchess. All this was to convey to the envoy, and through him to the lady, that he demanded in his new wife the concentration of her whole being on himself, and the utmost devotion to his will.” Browning himself is often quoted in support of at least the first part of this argument. Asked what the Duke meant by the words “by design,” the poet answered briefly but equivocally, “To have some occasion for telling the story, and illustrating part of it.”