£8.5 million worth of Banksy prints were sold in the second quarter of 2021. The value of Banksy prints sold this year so far (£26.7 million) is now 122% of the total Banksy prints sold in 2020 (£21.8 million). The average price has decreased, but the demand for signed prints is increasing.
2020 saw the demand for Banksy prints skyrocket, with many – particularly unsigned editions – selling for far above their high estimates. In Q1 2021, the market was flooded and an exceptional high amount of prints were sold. Now in Q2 2021, the market has started to balance out. Sales remain significantly higher than 2020 and 2019, but less prints are being sold, the average price has dropped and signed editions are growing in demand again – all trends consistent with the annual auction calendar before the Banksy boom, and a sign that the market is in the process of maturing.
Meanwhile, following the record-breaking sale of Game Changer in March 2021, Banksy originals continue to thrive at auction, with new top results set regularly. The recent quarter also saw the launch of cryptocurrency payments for Banksy paintings at two major auction houses.
Take a deep dive into what we’ve learned about the market in Q2 2021 in our new trend report, packed with insights and advice for Banksy buyers and sellers.
Watch the bidding for Banksy’s Love is in the Air, the first physical artwork at auction paid for using digital currency:
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