A lot of people don't like him for his lifestyle, his drug use, his arrogance, or his choice of stories to tell. I'm not here to defend him over any of those things, just to say: If you want to see how to write a great script that sells, read one by Joe. You can find a copy of the script for Basic Instinct here.
In 2006 he published The Devil's Guide to Hollywood, a mix of reminiscences and Hollywood trivia in the guise of a handbook for wannabe screenwriters. (It's an eye-opener; well worth reading.)
In the following video, recorded at a public reading of that book in 2006, Joe talks about his research and how he went about writing some of his scripts, including Basic Instinct.