Banksy. Do we invest?

Last week saw the opening of his latest exhibition. At a hotel nestled against the controversial barrier wall separating Israel from Palestine, Banksy has transformed the building with art and sculpture synonymous with its geographical and historical positon. Although it’s fair to say it will be critically analysed over the coming weeks with both good and bad reviews, one thing for certain is that Banksy is back on top of the art world. The honorary top spot was compounded by the fact that yesterday Sotheby’s sold a piece ‘This is a pipe’ for £285,000. A sum double its estimate.

Its a Pipe

Banksy is certainly hot property so let’s speculate as to why he continues to take the art world by storm. One might suggest his ideas are current and mainstream, incorporating a humorous stance residing within international cultures outlining war, consumerism, social media and politics. Others believe his success to be predominantly based upon a supposedly discreet identity. I personally believe his success is down to sheer skill in delivering the concept and by this I don’t mean his ability to stencil and spray paint onto a wall but to continue to create works that intrigue and inspire the entire globe. The old saying of letting the art do the talking is obviously paramount here and echoes forth with regards to the simply staggering effect Banksy has had upon the art market throughout his career.

So, down to the facts. A lot of people feel that Banksy paints on walls and or occasionally creates murals for A List celebrities, however obtaining a piece of art by Banksy doesn’t have to be that difficult… Here in the gallery we are exhibiting unsigned and signed works by Banksy. Over the past decade Banksy has released much signed work into the market. He created a number of limited editions that have become incredibly collectible, the most sought after being the famous ‘Girl with Balloon’. A piece (in good condition) is worth up to £70,000 on the open market. Not a bad investment considering its initial retail ticket was around £200.

As I mentioned there are a number of pieces in various galleries and adorning the walls of collectors. Some more exciting and deemed more collectable than others. The gallery is pleased to announce a number of signed and unsigned pieces by Banksy are on display. You are welcome to view works below with further more in our studio. If you would like information regarding his works or any particular pieces do contact us.

Pulp Fiction -

‘Pulp Fiction’ by Banksy

Released in 2004 and signed by the artist.

This work is presented within a large card mount and modern black frame.

£16,000

 

Grannies - Edition 150 - 56 x 76 - £20,000

‘Grannies’ by Banksy

Released in 2006. This work is an unsigned, limited edition by the artist.

This work is presented within a large card mount and modern black frame.

£6,000

 

banksy-morons-brown

‘Morons’ by Banksy

Released in 2007. This work is an unsigned, limited edition by the artist.

This work is presented within a large card mount and modern black frame.

£7,000

Kind Regards,

George Thornton Art

12A Flying Horse Walk, Nottingham, NG1 2HN – Tel : 01159243555

 

Is Art an Asset Class?

I don’t want you to think that I am changing my mind about the investment value of art.  According to artnetmarketing.com the demand for the top-selling artists has remained consistently high and done better than most investment classes consistently over the last ten years.

During the last week I was asked by a trustee to explain the asset value of some works of art in an estate.  The key criteria for establishing an asset is that the price is set efficiently.  This requires an effective method of aggregating opinions into a price as is done on the stock market.  In the art market a very small group of people set the price.  Also a painting is only sold once in about 20 years.  Also it is not clear that value sets the price.  If art is sold at auction there are buyer and seller premiums that inflate the price paid.

So my answer to the trustee was: art is a wealth store.  It does not pay dividends or interest and can cost money to keep, such as insurance or cleaning.   But for those artists whose work is desired the tax free capital gain has historically been large.

Economists and financiers do have a soul and many of them are collectors not just because of the monetary gain but also because as humans we are natural collectors of things of beauty that up lift our spirits.  Art is probably top of the list of items that full fill this need as we live in our urban landscape.

So collect your art as a wealth store and enjoy it.