Banksy established his reputation through the use of eye-catching stencils denouncing social evils, in particular greed and the privileges of the art market. However, the total value of the works he has created can be counted in the tens or even hundreds of millions… And he belongs to the small circle of living artists whose works have crossed the million-dollar mark at auction.
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But Banksy is far too sincere to be hypocritical. To a Guardian reporter, he said he had no problem with people stealing his works, since he too once scalped concert tickets for a living. He also accepts the irony of the system. Thus, if the artist receives nothing directly from the sale of his works on the secondary market, he makes the effort to authenticate them so that the buyers do not get cheated.
In addition, it is not uncommon for the artist to donate the results of his sales to causes such as public health (the profits from a sale at Christie's had been donated to the National Health Service of the UK in 2021) or for the victims of political conflicts (this year Banksy announced a sale of his works to support Ukraine. However, the online sale was also subject to a Russian cyber-attack.)
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Despite a 20-year career, numerous collaborations with other artists, and an Oscar-nominated film, Banksy has managed to remain anonymous. However, just because you don't know who he is doesn't mean you can't invest in the Banksy brand.
Over the years, some information has come to light about Banksy's life. To begin with, we are certain that it is a man. He is believed to have been born in Bristol, England in 1974. It is evident that he got his start as an urban artist in the 1990s, during the so-called “Bristol Aerosol Boom ” – the renaissance period of graffiti. While most other graffiti artists painted on walls freehand, Banksy developed his own signature style. He confided to a journalist in 2003, "I was completely useless with an aerosol can, so I started cutting stencils instead."
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Banksy moved to London around 2000. With the support of lookouts protecting him from the police, he began making witty, provocative, yet skillfully crafted stencil works all over the city. His works, which often mock politics, also criticize the consumer society, the war, and the inconsistency of the law. His works ridicule contemporary culture with an irony that one could say is undeniably British.
Many of Banksy's early works were considered graffiti and were quickly painted over. To date, at least 18 works by Banksy have been intentionally destroyed, either by the authorities, by Banksy himself or by a third party. In 2001, ironically, a work by Banksy was damaged when it was covered by a poster advertising a book by Michael Moore aimed at criticizing government policies.
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These days, most owners of tagged walls know the value of a Banksy artwork. More than 1,000 pieces by the artist were presented at auction, 83% of which found a buyer. His original paintings, his sculptures, his numbered reproductions, and his graffiti on pieces of wall carefully removed from buildings have so far brought in staggering prices.
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Today, the best way to acquire an original Banksy is to buy it at auction. However, you have to be prepared to pay the price. In October 2021 the street artist set a record at Sotheby's when Love is in the Bin sold for 18.58 million pounds sterling. The work, formerly known as 'Girl with the Balloon', sparked media attention when it self-destructed just after a £1.2 million auction at Sotheby's London in 2018. “The urge to destroy is also a creative urge,” Banksy wrote in an Instagram post after the event.
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This record was once held by Game Changer which fetched nearly £17 million at a Christie's auction on March 23, 2021, a year after the first UK lockdown. In 2022, according to the Artprice report, 1,186 works by Banksy were sold at auction for a total of $206 million.
Related: From Prank to Profit: The Shredded Banksy Auctioned
Of course, there is another way to acquire a Banksy, buying directly from the artist. But, since 2009, he has not carried out any commercial exhibition. In October 2013, during his month-long high-profile "residency" in New York, Banksy spent an entire day in Central Park selling his own original works to passers-by for $60. Thinking it was a joke, only seven buyers took advantage of this deal. These $60 works are now worth tens of thousands of dollars, if not more.
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Another way to acquire an original Banksy is to visit his official sales site: pestcontroloffice.com. With one click you will see if something is available. In general, there is nothing for sale often. But the site is also important if you have just bought a Banksy on the secondary market; it's the place where Banksy's works can be authenticated… for free, of course!
