All the data you need on the Banksy print market all in one place. Track the meteoric 2020 growth of the most revered street artist in the world, print by print, market by market.
Banksy’s print prices on the secondary market have skyrocketed by 83% since the start of the year. Here we reveal what the market is demanding, and why.
In April 2019, an edition of Banksy’s Bomb Love sold for HK$112,500 at Sotheby’s. The same print was offered at Phillips in October 2020, where it was conservatively estimated at HK$60,000-80,000. It realised HK$525,000 – six times its high estimate and five times what it sold for 18 months ago.
Demand for Banksy artworks is at a record high. Christie’s and Sotheby’s have held three online auctions dedicated to Banksy prints. The first, Sotheby’s Banksy | Online in March, totalled $1.4 million over 25 lots. 47% of the buyers were new to Sotheby’s and 30% were under 40 years old. The auction house followed up with another Banksy online sale in September, which totalled over £2 million with just 23 lots. Meanwhile, Christie’s September Banksy online auction totalled £2.1 million with 22 lots.
The value of Banksy prints have more than doubled in the last 12 months, with affordable unsigned editions being the most sought-after on the secondary market. Prices for Banksy prints at auction have been increasing steadily since January. The value of sales dipped by 3% in the first two months of lockdown, but quickly rose by 7% or more from May onward. September saw the largest increase of 94% – the total value of prints that month was no doubt boosted by the two record-breaking lots, Girl With Balloon at Sotheby’s on 18 September and Girl With Balloon – Colour AP (Purple) at Christie’s on 23 September. Here we chart the rise and rise of the Banksy prints market in 2020.
The demand for Banksy artworks has never been stronger, but whilst the Banksy market thrives, how does its success compare with the market for other artists? Here we pitch the Banksy market against that of four other Street Art and Pop artists.
In response to Covid restrictions, the art market is moving towards online-only sales, offering more affordable artworks like prints and editions to attract new buyers. Those looking to buy a Banksy are in luck. Over 16% more works by the artist have sold this year than in 2019, the value of his print market has gone up 83% in the last 12 months, but the actual median artwork price of work has dropped as lower value merchandise and memorabilia have swamped the market allowing for collectors at all levels to enjoy the Banksy boom.
But Banksy isn’t alone, affordable artworks for Banksy’s contemporaries KAWS and Takashi Murakami, as well as established Pop artists like Andy Warhol and Keith Haring continue to do well within the prints market in the midst of the 2020 pandemic. Here is a comparison of their popularity, price, and risk from art market data between 2017–20.
As the owner or potential buyer of a masterpiece, auction is a wonderful place to buy and sell truly unique original paintings. Banksy’s most expensive works ever sold, offer wonderful examples of how the spectacle of auction works its magic. You only have to watch the sale of Devolved Parliament to see how a room, telephone and internet of bidders make prices soar when the work in question offers some lucky buyer the often once in a lifetime opportunity for a specific work of art.
However, do not be lured in by Sotheby’s and Christie’s dedicated online-only Banksy sales, which comprises mainly prints. Christie’s aptly-named auction Banksy: I can’t believe you morons actually buy this sh*t, broke the auction record for a Banksy print in September 2020, when a very rare Girl with Balloon – Colour AP (Purple) from an edition of just 88 artist proofs sold for £791,250, on an estimate of £250,000-£350,000. Whilst they’ve sourced and sold some record-breaking results for highly unique works, the fees you’ll pay to sell your Banksy print will rarely return you more than on the private market. READ MORE
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