Urban Art Association

This is very common and I'd say a large portion of Banksy "gift" pieces don't have and will never get a COA. Most of the time we will never know the circumstances and reasoning but it is what it is. Know several amazing gift pieces that were refused COAs. It has caused a great deal of animosity for many but is what it is. IMO without COA, they are basically worthless on the market place and have value only to the original owner, which may have been the original intention of the gift in the first place. 

I've actually seen a few gift prints with COAs, so its not set in stone. It seems to be done on a case by case basis. But I agree with Black Apple that they are basically worthless or have very little value with out the COA, especially if its been denied one. I wouldn't invest a large some in to a Banksy piece with out it, that being said I may pay a couple of grand for the right piece if I liked it enough and believed it was done by Banksy. But certainly wouldn't be paying big money for anything as you'd struggle to sell it. There was a piece on ebay in the last year that looked like a Banksy Playboy of the month piece, the seller wanted a lot for it but without the COA no one was going to buy it.
As for why some pieces get authenticated and others don't, well only the guys at PC know that.

I have seen a dedicated signed original colourway Kate, but not for sale. Banksy had sent it to the framers he uses to be framed and I was shown it whilst I was there.

Here is a link

www.worthpoint.com/worthopedia/banksy-peace-love-glitter-2010-411427332

This was the craziest gift granted a COA I had ever seen. Was at Basel Miami last year and was actually gifted as a stencil on paper. The recipient then mounted the paper to a canvas and by pull of the gods got a COA. I actually didn't believe the Gallery and was shown a picture of it. Must have been a very close friend or did one hell of a favor.

I own a gift print with COA issued in the past two years; am not the original owner. From what I gathered it is completely on a case-by-case basis. That's all I'd like to go into on that one.

The 'gift was only intended for the recipient' thing may come into play when it seems like the person selling it doesn't need the money and is a bit greedy, but that's a complete guess.

Like others said, I wouldn't put too much money into a B without a COA. I love some of the ones I've seen, but you just know that it won't hold up - same philosophy behind selling the street pieces once they get denied Pest Control, more or less.

At $650k it was an easy pass but this Barcode was a steal at $850k

that barcode is fantastic

I saw the Barcode at Miami and the cutout, I wasn't too impressed by the cutout but loved the Barcode. I think the Barcode was from a time when Banksy stretched his own canvases on to wood frames that he put together. As you can see the lines aren't really clean. I heard he used to do make his own stretchers as he couldn't afford to buy them.
As for the paste up, just looked odd being cut out and pasted on a canvas. Not something Banksy usually does, something just was off about it. I would love it if Banksy had spray painted the image on the canvas, just doesn't work appeal to me as is. The prices were nuts, I think this Barcode came up at auction a couple of years back and the hammer dropped at £80k if if recall correctly.

I thought you had one of these in the collection? :-)

Nice! Potential commission? Only thing is half the lady's back is on the first square which would feel odd to paint. Maybe it's a large print. Looks great though.

Do you remember if the COA said it was paper mounted on canvas, or just on paper.
Maybe the cut and paste job was done after the COA was given... which would be even more crazy!!

An artwork/image made up of 3 seperate panels/canvas/prints....

No worries I thought it was funny. 

I thought it was Kunstrasen but wan't sure. I did a quick search for it but can't find it anywhere. Thank you for the confirmation.