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Season one · Thursday 23 July 2026 · 48 minutes

I Leaked Damien Hirst’s Secret Inventory

Ben Lewis in conversation with James Kirkham

Ben Lewis

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

  1. 00:00Cold open: the most beautiful objects used for the ugliest purposes
  2. 01:00Intro: art historian, investigative journalist, MTV
  3. 02:00Tell me a story: The Great Contemporary Art Bubble for the BBC
  4. 03:00The leaked inventory: 200 unsold Damien Hirsts worth £100 million
  5. 04:00Setting the journalistic trap
  6. 06:00Going viral two weeks before the auction
  7. 07:00Zero impact. Succalia.
  8. 09:00How value is actually decided: curators backing horses
  9. 10:00From art history to MTV: the transformation from cheerleader to cynic
  10. 11:00The visuals at The Fridge in Brixton in 1989
  11. 13:00The Gursky lookalike contest and the Channel 4 commission
  12. 14:00Art Safari: Cattelan, Murakami, Barney before they were household names
  13. 16:00The market goes crazy: $30 million for a Lichtenstein in 2006
  14. 17:00The art market as a canary in the coalmine
  15. 19:00When art history became the art market
  16. 20:00Style as brand, brand as machine: the Hirst spot paintings
  17. 22:00The late 19th century boom: record prices, worthless by 1910
  18. 23:00The Salvator Mundi: $1,000 in 2005, $450 million in 2017
  19. 24:00The family in Baton Rouge who got $700
  20. 25:00Christie's visited and walked past it
  21. 27:00Restoration, forgery, and where the lines blur
  22. 29:00Was it ever a Leonardo? Is it still a Leonardo?
  23. 30:00Why the Saudis bought it: pivoting from oil, building museums
  24. 31:00Forging provenance: you don't just forge the picture
  25. 33:00The Charles I stamp in Moscow: the evidence the protagonists missed
  26. 35:00Fake versus forgery: a genuinely difficult distinction
  27. 37:00The book: four years on Federico Joni
  28. 38:00Doorstepping Joni: caught in the act, photo book produced
  29. 39:00"Would you consider working for us as a restorer?"
  30. 41:00Joni appointed head of the Siena art school by the socialists
  31. 42:00The art market as template: NFTs and meme stocks learned from it
  32. 43:00The April Fool's NFT
  33. 44:00The contemporary market is crashing: 20% a year for three years
  34. 46:00The tsunami of revisionism is coming for blue chip work too
  35. 47:00AI and the search for originality