samfrost
New Member
Posts โข 783
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June 2014
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Banksy canvas at Bonhams, by samfrost on Mar 7, 2018 19:40:37 GMT 1, Agree with observations of OP...bidding seemed slow with not a ton of interest. Still it's an iconic image. I always forget how many editions are out there of canvases...this one was out of 25.
Agree with observations of OP...bidding seemed slow with not a ton of interest. Still it's an iconic image. I always forget how many editions are out there of canvases...this one was out of 25.
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Pattycakes
Junior Member
Posts โข 1,379
Likes โข 422
June 2007
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Banksy canvas at Bonhams, by Pattycakes on Mar 7, 2018 19:43:55 GMT 1, Buyer paid ยฃ350k all in approx, pretty solid. Not quite correct, they paid ยฃ280,000, plus 25% premium plus VAT on the 25% which totals ยฃ84,000 and a further 4% ARR so by my calculation it's ยฃ375,200. If the buyer is from outside of the EU they can take off the VAT.
Buyer paid ยฃ350k all in approx, pretty solid. Not quite correct, they paid ยฃ280,000, plus 25% premium plus VAT on the 25% which totals ยฃ84,000 and a further 4% ARR so by my calculation it's ยฃ375,200. If the buyer is from outside of the EU they can take off the VAT.
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lee3
New Member
Posts โข 832
Likes โข 1,289
November 2009
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Banksy canvas at Bonhams, by lee3 on Mar 7, 2018 19:49:04 GMT 1, bidding was really lacklustre on this, auctioneer really had to work to get the bids out, final hammer was ยฃ280,000 which seems low to me. With all the bits added on I figure the final price is more or less ยฃ375,000. It'll be interesting to see what Sotheby's get for their canvas tonight but if I were the Girl With Balloon owner I think I might not be all that happy with the result today. I'm surprised that's your takeaway. That's by far the highest priced editioned work for this artist ever at auciton. At over $500k US with fees the competition in that bracket is often iconic (unique) works from blue chip artists. You can have a perfect 8 inch flowers, a couple works on paper from calder, a large picasso drawing for starters. And lest we forget this was Bonhams which traditionally favors the buyer. I don't know that the seller would have done that much better on secondary once they factor in paying someone to help shift it privately. That was a big result in a sale that did much better overall than i expected. Justt about everything on offer thus far this week has done unbelievably well.
bidding was really lacklustre on this, auctioneer really had to work to get the bids out, final hammer was ยฃ280,000 which seems low to me. With all the bits added on I figure the final price is more or less ยฃ375,000. It'll be interesting to see what Sotheby's get for their canvas tonight but if I were the Girl With Balloon owner I think I might not be all that happy with the result today. I'm surprised that's your takeaway. That's by far the highest priced editioned work for this artist ever at auciton. At over $500k US with fees the competition in that bracket is often iconic (unique) works from blue chip artists. You can have a perfect 8 inch flowers, a couple works on paper from calder, a large picasso drawing for starters. And lest we forget this was Bonhams which traditionally favors the buyer. I don't know that the seller would have done that much better on secondary once they factor in paying someone to help shift it privately. That was a big result in a sale that did much better overall than i expected. Justt about everything on offer thus far this week has done unbelievably well.
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Hubble Bubble
Junior Member
Posts โข 4,099
Likes โข 3,533
December 2010
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Banksy canvas at Bonhams, by Hubble Bubble on Mar 7, 2018 19:57:38 GMT 1, Buyer paid ยฃ350k all in approx, pretty solid. Not quite correct, they paid ยฃ280,000, plus 25% premium plus VAT on the 25% which totals ยฃ84,000 and a further 4% ARR so by my calculation it's ยฃ375,200. If the buyer is from outside of the EU they can take off the VAT. Bonham's quote the price including premium as ยฃ344,750... maybe there's a sliding scale for the premium?
Buyer paid ยฃ350k all in approx, pretty solid. Not quite correct, they paid ยฃ280,000, plus 25% premium plus VAT on the 25% which totals ยฃ84,000 and a further 4% ARR so by my calculation it's ยฃ375,200. If the buyer is from outside of the EU they can take off the VAT. Bonham's quote the price including premium as ยฃ344,750... maybe there's a sliding scale for the premium?
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lee3
New Member
Posts โข 832
Likes โข 1,289
November 2009
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Banksy canvas at Bonhams, by lee3 on Mar 7, 2018 20:04:44 GMT 1, Not quite correct, they paid ยฃ280,000, plus 25% premium plus VAT on the 25% which totals ยฃ84,000 and a further 4% ARR so by my calculation it's ยฃ375,200. If the buyer is from outside of the EU they can take off the VAT. Bonham's quote the price including premium as ยฃ344,750... maybe there's a sliding scale for the premium? You must be correct as it averages out to a 23.125% premium. However, the bonhams quote does not include 4% artist resale rights, any jurisdictional taxes due from buyer nor crating and shipping all of which are going to cost most buyers another 10-20% easily.
Edit: here is the bonhams premium schedule for london:
Buyer's Premium Rates 25% on the first ยฃ175,000 of the hammer price 20% on the excess of ยฃ175,001 and up to ยฃ3,000,000 of the hammer price 12.5% on the excess of ยฃ3,000,001 of the hammer price
Not quite correct, they paid ยฃ280,000, plus 25% premium plus VAT on the 25% which totals ยฃ84,000 and a further 4% ARR so by my calculation it's ยฃ375,200. If the buyer is from outside of the EU they can take off the VAT. Bonham's quote the price including premium as ยฃ344,750... maybe there's a sliding scale for the premium? You must be correct as it averages out to a 23.125% premium. However, the bonhams quote does not include 4% artist resale rights, any jurisdictional taxes due from buyer nor crating and shipping all of which are going to cost most buyers another 10-20% easily. Edit: here is the bonhams premium schedule for london: Buyer's Premium Rates 25% on the first ยฃ175,000 of the hammer price 20% on the excess of ยฃ175,001 and up to ยฃ3,000,000 of the hammer price 12.5% on the excess of ยฃ3,000,001 of the hammer price
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Deleted
Posts โข 0
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January 1970
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Pattycakes
Junior Member
Posts โข 1,379
Likes โข 422
June 2007
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Banksy canvas at Bonhams, by Pattycakes on Mar 7, 2018 20:25:16 GMT 1, bidding was really lacklustre on this, auctioneer really had to work to get the bids out, final hammer was ยฃ280,000 which seems low to me. With all the bits added on I figure the final price is more or less ยฃ375,000. It'll be interesting to see what Sotheby's get for their canvas tonight but if I were the Girl With Balloon owner I think I might not be all that happy with the result today. I'm surprised that's your takeaway. That's by far the highest priced editioned work for this artist ever. At over $500k US with fees the competition in that bracket is often iconic (unique) works from blue chip artists. You can have a perfect 8 inch flowers, a couple works on paper from calder, a large picasso drawing for starters. And lest we forget this was Bonhams which traditionally favors the buyer. I don't know that the seller would have done that much better n secondary once they factor in paying someone to help shift it privately. That was a big result in a sale that did much better overall than i expected. Justt about everything on offer thus far this week has done unbelievably well. Compared to what a signed screen print on paper from an edition of 150 makes, it just does not feel like a lot. I know it's like comparing apples and oranges, but it just feels as though there is a too small a gap between these prices.
bidding was really lacklustre on this, auctioneer really had to work to get the bids out, final hammer was ยฃ280,000 which seems low to me. With all the bits added on I figure the final price is more or less ยฃ375,000. It'll be interesting to see what Sotheby's get for their canvas tonight but if I were the Girl With Balloon owner I think I might not be all that happy with the result today. I'm surprised that's your takeaway. That's by far the highest priced editioned work for this artist ever. At over $500k US with fees the competition in that bracket is often iconic (unique) works from blue chip artists. You can have a perfect 8 inch flowers, a couple works on paper from calder, a large picasso drawing for starters. And lest we forget this was Bonhams which traditionally favors the buyer. I don't know that the seller would have done that much better n secondary once they factor in paying someone to help shift it privately. That was a big result in a sale that did much better overall than i expected. Justt about everything on offer thus far this week has done unbelievably well. Compared to what a signed screen print on paper from an edition of 150 makes, it just does not feel like a lot. I know it's like comparing apples and oranges, but it just feels as though there is a too small a gap between these prices.
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lee3
New Member
Posts โข 832
Likes โข 1,289
November 2009
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Banksy canvas at Bonhams, by lee3 on Mar 7, 2018 20:33:45 GMT 1, I'm surprised that's your takeaway. That's by far the highest priced editioned work for this artist ever. At over $500k US with fees the competition in that bracket is often iconic (unique) works from blue chip artists. You can have a perfect 8 inch flowers, a couple works on paper from calder, a large picasso drawing for starters. And lest we forget this was Bonhams which traditionally favors the buyer. I don't know that the seller would have done that much better n secondary once they factor in paying someone to help shift it privately. That was a big result in a sale that did much better overall than i expected. Justt about everything on offer thus far this week has done unbelievably well. Compared to what a signed screen print on paper from an edition of 150 makes, it just does not feel like a lot. I know it's like comparing apples and oranges, but it just feels as though there is a too small a gap between these prices. I think that's a fair comment and many would suggest the same. To me that's merely a reflection of this artist's popularity. IE, that the unsigned prints went chaotic first, then the signed prints and so on. He has a much wider and younger audience on average than most artists at his stage and I think we see evidence of that in the print prices. From my little window on secondary, the prices of originals are moving higher quickly. I personally believe that it's tougher for anything marked edition 25 to make the move that something unique can make though this result kind of discredits that opinion. It's also fair to note that the print edition of this image holds substantially larger wall space than all of the editioned canvases of this image which is a bit atypical in the collecting pursuit.
I'm surprised that's your takeaway. That's by far the highest priced editioned work for this artist ever. At over $500k US with fees the competition in that bracket is often iconic (unique) works from blue chip artists. You can have a perfect 8 inch flowers, a couple works on paper from calder, a large picasso drawing for starters. And lest we forget this was Bonhams which traditionally favors the buyer. I don't know that the seller would have done that much better n secondary once they factor in paying someone to help shift it privately. That was a big result in a sale that did much better overall than i expected. Justt about everything on offer thus far this week has done unbelievably well. Compared to what a signed screen print on paper from an edition of 150 makes, it just does not feel like a lot. I know it's like comparing apples and oranges, but it just feels as though there is a too small a gap between these prices. I think that's a fair comment and many would suggest the same. To me that's merely a reflection of this artist's popularity. IE, that the unsigned prints went chaotic first, then the signed prints and so on. He has a much wider and younger audience on average than most artists at his stage and I think we see evidence of that in the print prices. From my little window on secondary, the prices of originals are moving higher quickly. I personally believe that it's tougher for anything marked edition 25 to make the move that something unique can make though this result kind of discredits that opinion. It's also fair to note that the print edition of this image holds substantially larger wall space than all of the editioned canvases of this image which is a bit atypical in the collecting pursuit.
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Nuno
Junior Member
Posts โข 1,095
Likes โข 479
November 2007
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Banksy canvas at Bonhams, by Nuno on Mar 7, 2018 21:23:17 GMT 1, Compared to what a signed screen print on paper from an edition of 150 makes, it just does not feel like a lot. I know it's like comparing apples and oranges, but it just feels as though there is a too small a gap between these prices.ย I think that's a fair comment and many would suggest the same.ย To me that's merely a reflection of this artist's popularity.ย IE, that the unsigned prints went chaotic first, then the signed prints and so on.ย He has a much wider and younger audience on average than most artists at his stage and I think we see evidence of that in the print prices.ย From my little window on secondary, the prices of originals are moving higher quickly.ย I personally believe that it's tougher for anything marked edition 25 to make the move that something unique can make though this result kind of discredits that opinion. It's also fair to note that the print edition of this image holds substantially larger wall space than all of the editioned canvases of this image which is a bit atypical in the collecting pursuit.ย ย
Always enjoy reading your posts Lee3. Clear and considered. Thanks ๐๐ผ
Compared to what a signed screen print on paper from an edition of 150 makes, it just does not feel like a lot. I know it's like comparing apples and oranges, but it just feels as though there is a too small a gap between these prices.ย I think that's a fair comment and many would suggest the same.ย To me that's merely a reflection of this artist's popularity.ย IE, that the unsigned prints went chaotic first, then the signed prints and so on.ย He has a much wider and younger audience on average than most artists at his stage and I think we see evidence of that in the print prices.ย From my little window on secondary, the prices of originals are moving higher quickly.ย I personally believe that it's tougher for anything marked edition 25 to make the move that something unique can make though this result kind of discredits that opinion. It's also fair to note that the print edition of this image holds substantially larger wall space than all of the editioned canvases of this image which is a bit atypical in the collecting pursuit.ย ย Always enjoy reading your posts Lee3. Clear and considered. Thanks ๐๐ผ
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Unica
Junior Member
Posts โข 2,058
Likes โข 1,220
November 2013
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Banksy canvas at Bonhams, by Unica on Mar 7, 2018 22:24:10 GMT 1, I think its a fantastic result and I would imagine the owner would be thrilled with it, I believe those canvases were around ยฃ500 at Santas Ghetto in 2003, so I don't believe anyone would be disappointed with that kind of appreciation. And now the Bacchus At the Seaside selling for ยฃ669k, these are strong results. IMO its evidence his market is strengthening, maybe time his originals distanced themselves from the print market.
I think its a fantastic result and I would imagine the owner would be thrilled with it, I believe those canvases were around ยฃ500 at Santas Ghetto in 2003, so I don't believe anyone would be disappointed with that kind of appreciation. And now the Bacchus At the Seaside selling for ยฃ669k, these are strong results. IMO its evidence his market is strengthening, maybe time his originals distanced themselves from the print market.
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iamzero
Full Member
Posts โข 9,190
Likes โข 8,542
May 2011
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Banksy canvas at Bonhams, by iamzero on Mar 7, 2018 22:33:22 GMT 1, Iโd never even seen that canvas before. Madness.
Iโd never even seen that canvas before. Madness.
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Deleted
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January 1970
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Banksy canvas at Bonhams, by Deleted on Mar 7, 2018 22:54:05 GMT 1, Iโd never even seen that canvas before. Madness.
I'd never heard of half the artists that were being auctioned off at mad money
And...... You couldnt put your head in the other artists stuff either
Iโd never even seen that canvas before. Madness. I'd never heard of half the artists that were being auctioned off at mad money And...... You couldnt put your head in the other artists stuff either
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iamzero
Full Member
Posts โข 9,190
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May 2011
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Banksy canvas at Bonhams, by iamzero on Mar 7, 2018 23:31:17 GMT 1, You couldโve stuck your bonce through that million quid slashed canvas.
You couldโve stuck your bonce through that million quid slashed canvas.
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Deleted
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January 1970
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Banksy canvas at Bonhams, by Deleted on Mar 7, 2018 23:50:34 GMT 1, You couldโve stuck your bonce through that million quid slashed canvas. LOL, yeah, you could
You'd get some odd looks though
You couldโve stuck your bonce through that million quid slashed canvas. LOL, yeah, you could You'd get some odd looks though
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Pistol
Artist
Junior Member
Posts โข 2,097
Likes โข 1,759
February 2008
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Banksy canvas at Bonhams, by Pistol on Mar 11, 2018 10:00:06 GMT 1, Can see why POW closed now ๐
Can see why POW closed now ๐
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