Season one · Thursday 23 July 2026 · 48 minutes
I Leaked Damien Hirst’s Secret Inventory
Ben Lewis on the art market, the Salvator Mundi, and why the most beautiful objects are used for the ugliest purposes.
In 2005, a painting sold at auction for $1,000. In 2017, the same painting sold to the ruler of Saudi Arabia for $450 million. Christie's marketed it as a Leonardo da Vinci. It probably isn't. Nobody can prove it either way because most of the original surface is gone. That is not why it sold for $450 million.
Ben Lewis is an art historian and investigative journalist who has spent his career reading the art market like a forensic investigator. What he found is a largely unregulated parallel financial system in which narrative manufactures value, forgers get hired as restorers, and the mechanics that made Damien Hirst worth hundreds of millions are the same mechanics that gave us crypto, NFTs, and meme stocks.
Chapters
- 00:00Cold open: the most beautiful objects used for the ugliest purposes
- 01:00Intro: art historian, investigative journalist, MTV
- 02:00Tell me a story: The Great Contemporary Art Bubble for the BBC
- 03:00The leaked inventory: 200 unsold Damien Hirsts worth £100 million
- 04:00Setting the journalistic trap
- 06:00Going viral two weeks before the auction
- 07:00Zero impact. Succalia.
- 09:00How value is actually decided: curators backing horses
- 10:00From art history to MTV: the transformation from cheerleader to cynic
- 11:00The visuals at The Fridge in Brixton in 1989
- 13:00The Gursky lookalike contest and the Channel 4 commission
- 14:00Art Safari: Cattelan, Murakami, Barney before they were household names
- 16:00The market goes crazy: $30 million for a Lichtenstein in 2006
- 17:00The art market as a canary in the coalmine
- 19:00When art history became the art market
- 20:00Style as brand, brand as machine: the Hirst spot paintings
- 22:00The late 19th century boom: record prices, worthless by 1910
- 23:00The Salvator Mundi: $1,000 in 2005, $450 million in 2017
- 24:00The family in Baton Rouge who got $700
- 25:00Christie's visited and walked past it
- 27:00Restoration, forgery, and where the lines blur
- 29:00Was it ever a Leonardo? Is it still a Leonardo?
- 30:00Why the Saudis bought it: pivoting from oil, building museums
- 31:00Forging provenance: you don't just forge the picture
- 33:00The Charles I stamp in Moscow: the evidence the protagonists missed
- 35:00Fake versus forgery: a genuinely difficult distinction
- 37:00The book: four years on Federico Joni
- 38:00Doorstepping Joni: caught in the act, photo book produced
- 39:00"Would you consider working for us as a restorer?"
- 41:00Joni appointed head of the Siena art school by the socialists
- 42:00The art market as template: NFTs and meme stocks learned from it
- 43:00The April Fool's NFT
- 44:00The contemporary market is crashing: 20% a year for three years
- 46:00The tsunami of revisionism is coming for blue chip work too
- 47:00AI and the search for originality

