Page 24 - Ocean Blue World Winter 2019 Edition

FROM THE CHAIRMAN

BANKSY

To Buy Or Not To Buy?

hat is an excellent question. If looking at it from purely the
investment standpoint, one can bank on a Banksy holding or
increasing in value. Just do not expect it to happen overnight. If
T the investor is a fan, well, then they will not go wrong there either.

There are a lot of talented artists around the world, so I started thinking o, how do you get your hands on a Banksy? It is not as easy as
about what distinguishes one artist’s work as a valuable collectible, one might think. Other than surprise pop-up shops like the one
between another’s whose work is not worth the canvas it is painted in New York in 2014, Pest Control is the only source to buy
on. What it really comes down to is advertising. Think about it, most SBanksy prints on the primary market. There is also a strong
brands plaster their names and logos everywhere, while Banksy’s true secondary market for his work but beware of fakes. Only Pest Control
identity is still unknown. Talk about a brilliant PR move. will authenticate a true Banksy work, for a fee. Be patient because the
website states: “Many Banksy pieces are created in an advanced state
England-based street artist, vandal and film director, Banksy used of intoxication which can make the task of authenticating his works
satire as a sword and dark humor to paint a picture of political lengthy and challenging.” Banksy has said,
hypocrisy and social injustice in Bristol in the 90s. He was inspired
by 3D, a founding member of the musical group, Massive Attack. Some “Graffiti art has a hard enough life as it is – with council workers
have speculated Banksy is the front man, since 3D had been a graffiti wanting to remove it and kids wanting to draw moustaches on
artist during the 80s before starting the band and he was also a personal it, before you add hedge fund managers wanting to chop it out
friend of Banksy. The plot thickens. and hang it over the fireplace. For the sake of keeping all street
art where it belongs I’d encourage people not to buy anything by
Banksy says, “Art should comfort the disturbed and disturb the anybody unless it was created for sale in the first place.”
comfortable.” If this resonates for you, you are not alone. Prices for
his prints run from a few thousand up to hundreds of thousands of Again, great advertising. How do you get somebody to buy something?
dollars, based on marketability and whether it is a signed Banksy. Tell them not to buy it - only Banksy can get away with that.
Primary market release purchases are significantly less costly than
waiting until later. A signed “Girl with Balloon” print, one of his most
iconic and limited edition pieces sold for approximately $200.00 U.S.
when it was first introduced. Now they regularly sell from $64,000 to
as much as $100,000. Banksy’s “Keep it Spotless” piece, originally a
Damien Hirst painting Banksy defaced, sold at auction in New York
for $1,870,000 U.S. Dieter Esch
Chairman
Photos Courtesy Of: CBS News, Maddox Gallery

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