Owning a piece of Banksy’s art isn’t the easiest thing to acquire. Then again, sometimes auction houses and art dealers get ahold of troves of great pieces that then come up for grabs. Sotheby’s had 48 original artworks by Banksy, and some of those artworks blew past estimates. One of the most famous in the auction did not sell. Competition from investors could be one reason for high sales, as for Girl with Balloon, Lot 5 did not sell and Sotheby’s did not provide a statement.
Before crypto and NFT you had this street artist that was elusive and generally had a social commentary about his pieces. However you feel as a collector he is Britain’s most sensational living artist. Sotheby’s biannual Banksy sale opened for bidding on April 20th and concluded on April 26, 2022.
According to Sotheby’s, this is a much anticipated auction which surveys the artist’s most groundbreaking works. A selection of prints from his initial foray into screen printing to his more recent editions, which include: Thrower (Grey). Highlights include a rare Girl with Balloon – Color AP (Purple), a signed impression of Love is in the Air, and interesting colorways of iconic subjects from Nola to Choose Your Weapon.
Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means artists like Banksy are attracting the same capital that could have been invested into stocks or bonds. Many Banksy original works now cost tens of thousands into the millions. Collectors know that they are in a dance with investors who view these collectibles solely as a chance to make a profit in the future.
Here are the highest estimated Banksy items in the auction including the titles mentioned above.
Lot 5: Girl with Balloon – Colour AP (Purple), with an estimate of 400,000 to 600,000 GBP which is $513,368.31 to $770,052.46 USD. Lot did not sell, image by Sotheby’s. There is a note inside this particular auction lot: Purchase of lots marked with this symbol will be subject to the payment of the artist’s resale right.
Lot 3: Thrower (Grey), with an estimate of 150,000 to 200,000 GBP which is $192,513.12 to $256,684.15 USD. Lot sold for 277,200 GBP which is $348,370.47 USD.
Lot 16: Nola – Orange Rain, with an estimate of 150,000 – 200,000 GBP which is $192,513.12 to $256,684.15 USD. Starting bid of 130,000 GBP, which is $166,844.70 USD. Lot sold for 189,000 GBP which is $237,525.32 USD.
Lot 34: Love is in the Air [signed], with an estimate of 150,000 – 250,000 GBP which is $192,513.12 to $256,684.15 USD. Starting bid of 130,000 GBP, which is $166,844.70 USD. Lot sold for 189,000 GPB which is $237,525.32 USD.
Lot 2: Kate Moss: Original Colourway, with an estimate of 120,000 – 180,000 GBP which is $154,010.49 to $221,015.74 USD. Starting bid of 100,000 GBP, which is $128,316.76 USD. Lot sold for $226,800 GBP which is $284,812.11 USD.
Lot 15: Hand Finished Donuts (Strawberry), with an estimate of 110,000 – 150,000 GBP which is $141,148.44 to $192,475.14 USD. Starting bid of 95,000 GBP, which is $121,900.92 USD. Lot sold for 277,200 GBP which is $348,370.47 USD.
Lot 4: Choose Your Weapon (Bright Purple), with an estimate of 100,000 – 150,000 GBP which is $128,316.76 to $192,475.14 USD. Starting bid of 90,000 GBP, which is $115,485.09 USD. Lot sold for 126,000 GPB which is $158,228.95 USD.
Lot 21: Nola (Grey Rain), with an estimate of 70,000 – 100,000 GBP which is $89,821.73 to $128,316.76 USD. Starting bid of 60,000 GBP, which is $76,990.05 USD. Lot sold for 88,200 GPB which is $110,615.74 USD.
And for a personal favorite for irony, Lot 47: Morons with an est. 40,000 – 60,000 GBP, or about $51,000 to $77,000 converted to dollars (rounded). Lot sold for 81,900 GBP which is $102,714.61 USD.
Categories: Fine Art