In the past five years the art market has transformed at a furious pace. Anyone who wants to participate today has to be knowledgeable: what distinguishes the Dutch from the English style of auction? The vintage from the period, modern, or estate print? Dirk Boll, one of three presidents of Christie’s, explains these and many other art terms, while at the same time providing insight into structural and legal developments. Have new financial instruments and surprising alliances turned the competition between dealers and auctions into a cross-border clash between big and small? Does increased engagement on the part of collectors mean that the process of canonizing art will become privatized, too, or are the days of the private museum numbered? Does the new German law protecting cultural heritage simply mean a cut in exports, or will it influence trade inside the country? Boll, who studied law, sheds light on the legal framework surrounding the acquisition of art as competently as he explores the themes of stolen art and reparations.