Dive Jedi
Junior Member
Posts โข 6,160
Likes โข 9,392
October 2015
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Banksy Auction, by Dive Jedi on Sept 4, 2020 16:33:26 GMT 1, I would imagine it was someone just trying to blow the rest out the water in one hit? Puts people straight on the back foot. Only guessing though, as it was a little odd. Yes this is a good shout and could be the reason as they were on the phone so perhaps not watching online....but the auctioneer had asked 2/3 times already for a starting bid and whilst it would have sold I am pretty sure he could have blown rest out of the water jumping in at 45k or possibly even 40. It just seemed a crazy bid....but then all the pricing is crazy right now. Yeah, that 55K bid was really odd!!
From 32 to 55
Maybe soneone who already has 10 of them..... ? Or more money then brains.
I would imagine it was someone just trying to blow the rest out the water in one hit? Puts people straight on the back foot. Only guessing though, as it was a little odd. Yes this is a good shout and could be the reason as they were on the phone so perhaps not watching online....but the auctioneer had asked 2/3 times already for a starting bid and whilst it would have sold I am pretty sure he could have blown rest out of the water jumping in at 45k or possibly even 40. It just seemed a crazy bid....but then all the pricing is crazy right now. Yeah, that 55K bid was really odd!! From 32 to 55 Maybe soneone who already has 10 of them..... ? Or more money then brains.
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Matt
Junior Member
Posts โข 2,349
Likes โข 3,436
September 2014
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Banksy Auction, by Matt on Sept 4, 2020 16:41:16 GMT 1, People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Brand equity and commercial reach (client list, communication etc...) commands a premium which an individual is unlikely to match.
In a sellerโs market you may be able to get close to it. But mostly you will be selling for less than what an established and recognised trader will.
People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Brand equity and commercial reach (client list, communication etc...) commands a premium which an individual is unlikely to match. In a sellerโs market you may be able to get close to it. But mostly you will be selling for less than what an established and recognised trader will.
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woodman
New Member
Posts โข 236
Likes โข 216
June 2017
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Banksy Auction, by woodman on Sept 4, 2020 16:49:56 GMT 1, I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Brand equity and commercial reach (client list, communication etc...) commands a premium which an individual is unlikely to match. In a sellerโs market you may be able to get close to it. But mostly you will be selling for less than what an established and recognised trader will. I understand that, but I have read many times that "but the seller only gets xxxx" so that is the value of the item. I appreciate a private sale will probably be lower than a final price than an auction house with their reach, but I also think in general a private price sale should be closer to the final "paid" price than the hammer price. Only my opinion though.
I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Brand equity and commercial reach (client list, communication etc...) commands a premium which an individual is unlikely to match. In a sellerโs market you may be able to get close to it. But mostly you will be selling for less than what an established and recognised trader will. I understand that, but I have read many times that "but the seller only gets xxxx" so that is the value of the item. I appreciate a private sale will probably be lower than a final price than an auction house with their reach, but I also think in general a private price sale should be closer to the final "paid" price than the hammer price. Only my opinion though.
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jp226
Junior Member
Posts โข 1,052
Likes โข 907
July 2010
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Banksy Auction, by jp226 on Sept 4, 2020 17:03:02 GMT 1, Brand equity and commercial reach (client list, communication etc...) commands a premium which an individual is unlikely to match. In a sellerโs market you may be able to get close to it. But mostly you will be selling for less than what an established and recognised trader will. I understand that, but I have read many times that "but the seller only gets xxxx" so that is the value of the item. I appreciate a private sale will probably be lower than a final price than an auction house with their reach, but I also think in general a private price sale should be closer to the final "paid" price than the hammer price. Only my opinion though.
I agree. Folks who say โbut the seller only gets XXXXโ are usually the ones who are looking for a deal of some kind. With the private market drying up a bit, I think prices should be close to hammer or at least on par with a gallery. It really comes down to supply and demand.
Brand equity and commercial reach (client list, communication etc...) commands a premium which an individual is unlikely to match. In a sellerโs market you may be able to get close to it. But mostly you will be selling for less than what an established and recognised trader will. I understand that, but I have read many times that "but the seller only gets xxxx" so that is the value of the item. I appreciate a private sale will probably be lower than a final price than an auction house with their reach, but I also think in general a private price sale should be closer to the final "paid" price than the hammer price. Only my opinion though. I agree. Folks who say โbut the seller only gets XXXXโ are usually the ones who are looking for a deal of some kind. With the private market drying up a bit, I think prices should be close to hammer or at least on par with a gallery. It really comes down to supply and demand.
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irl1
Full Member
Posts โข 9,274
Likes โข 9,380
December 2017
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Banksy Auction, by irl1 on Sept 4, 2020 17:17:28 GMT 1, Things are starting to move...... (dont worry I'm here) Things are starting to move......
(dont worry I'm there)
Things are starting to move...... (dont worry I'm here) Things are starting to move...... (dont worry I'm there)
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Lazarus II
Junior Member
Posts โข 1,801
Likes โข 2,427
August 2019
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Banksy Auction, by Lazarus II on Sept 4, 2020 17:21:19 GMT 1, Heโs down the pub buying rounds for everyone all night with one Peckham rock. The bar lady just refused one - silly girl ! keep that peckham rock in your pants perhaps
Heโs down the pub buying rounds for everyone all night with one Peckham rock. The bar lady just refused one - silly girl ! keep that peckham rock in your pants perhaps
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apprint
New Member
Posts โข 583
Likes โข 127
January 2012
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Banksy Auction, by apprint on Sept 4, 2020 17:40:10 GMT 1, Something looked odd there...the Auctioneer was asking for ยฃ30k starting bid for J&J and there was nothing on and then someone bid ยฃ55k from nowhere. No other bids and the item sells for 55k. Makes no sense buyer could have got that for less...anyone else see that or were there already online bids the auctioneer didn't reference???
This was very Fanny , about to be sold for ยฃ30k and some out of the moon ยฃ55k sold
Something looked odd there...the Auctioneer was asking for ยฃ30k starting bid for J&J and there was nothing on and then someone bid ยฃ55k from nowhere. No other bids and the item sells for 55k. Makes no sense buyer could have got that for less...anyone else see that or were there already online bids the auctioneer didn't reference??? This was very Fanny , about to be sold for ยฃ30k and some out of the moon ยฃ55k sold
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irl1
Full Member
Posts โข 9,274
Likes โข 9,380
December 2017
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Banksy Auction, by irl1 on Sept 4, 2020 18:01:19 GMT 1, Something looked odd there...the Auctioneer was asking for ยฃ30k starting bid for J&J and there was nothing on and then someone bid ยฃ55k from nowhere. No other bids and the item sells for 55k. Makes no sense buyer could have got that for less...anyone else see that or were there already online bids the auctioneer didn't reference??? If it's on a few platforms and their own site the auctioneers sometimes call the start price while waiting on all the platforms to gel. There can be hidden bids on platforms that you can't see.
Or there could have been a good few absentee bids and the client with the highest Absentee bid won
Something looked odd there...the Auctioneer was asking for ยฃ30k starting bid for J&J and there was nothing on and then someone bid ยฃ55k from nowhere. No other bids and the item sells for 55k. Makes no sense buyer could have got that for less...anyone else see that or were there already online bids the auctioneer didn't reference??? If it's on a few platforms and their own site the auctioneers sometimes call the start price while waiting on all the platforms to gel. There can be hidden bids on platforms that you can't see. Or there could have been a good few absentee bids and the client with the highest Absentee bid won
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silvermyn
Junior Member
Posts โข 1,611
Likes โข 781
April 2008
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Banksy Auction, by silvermyn on Sept 4, 2020 18:11:03 GMT 1, People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
The buyer pays the hammer price for the print. The additional commission is simply for the services and assurances that you get when buying from a reputable auction house. Remember that they do inspect the print, prepare a condition report, and that forms part of a detailed and formal legal ageement between the buyer and the auction house.
If you offered me the same print as Christieโs just sold for ยฃ100k for the price including commission, then Iโd be wondering why Iโm paying you commission when youโre not providing any of the services or assurances that Iโd get from the auction house. Similarly, I wouldnโt expect to pay a private seller the VAT or ARR charged by an auction house.
People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
The buyer pays the hammer price for the print. The additional commission is simply for the services and assurances that you get when buying from a reputable auction house. Remember that they do inspect the print, prepare a condition report, and that forms part of a detailed and formal legal ageement between the buyer and the auction house. If you offered me the same print as Christieโs just sold for ยฃ100k for the price including commission, then Iโd be wondering why Iโm paying you commission when youโre not providing any of the services or assurances that Iโd get from the auction house. Similarly, I wouldnโt expect to pay a private seller the VAT or ARR charged by an auction house.
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ca
Junior Member
Posts โข 1,920
Likes โข 2,372
March 2011
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Banksy Auction, by ca on Sept 4, 2020 18:20:52 GMT 1, time for originals to catch up with prices like that on US and S prints
time for originals to catch up with prices like that on US and S prints
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LJCal
Junior Member
Posts โข 2,825
Likes โข 4,240
December 2019
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Banksy Auction, by LJCal on Sept 4, 2020 20:26:33 GMT 1, People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Six months back you could easily buy prints at hammer price now youโre lucky to buy privately at hammer+fees as most sellers are expecting prices to rise (rightly or wrongly).
People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for?
Genuinely interested in people's thoughts...
*Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price?
Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Six months back you could easily buy prints at hammer price now youโre lucky to buy privately at hammer+fees as most sellers are expecting prices to rise (rightly or wrongly).
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coller
Junior Member
Posts โข 2,380
Likes โข 2,371
April 2015
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Banksy Auction, by coller on Sept 4, 2020 21:19:31 GMT 1, 55k bid is a red flag
55k bid is a red flag
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pottsy11
New Member
Posts โข 282
Likes โข 131
April 2017
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Banksy Auction, by pottsy11 on Sept 8, 2020 2:02:07 GMT 1, Hi. What would an unsigned Have a nice day be worth in this market ? Thnx.
Hi. What would an unsigned Have a nice day be worth in this market ? Thnx.
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F*X
New Member
Posts โข 556
Likes โข 400
February 2009
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Banksy Auction, by F*X on Sept 8, 2020 9:28:41 GMT 1, Have a look at banksy-value.com
Have a look at banksy-value.com
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pottsy11
New Member
Posts โข 282
Likes โข 131
April 2017
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Banksy Auction, by pottsy11 on Sept 8, 2020 9:56:06 GMT 1, Have a look at banksy-value.com Hi. I have but with that latest auction prices changing so quick.
Have a look at banksy-value.com Hi. I have but with that latest auction prices changing so quick.
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Banksy Auction, by Jonny Wednesday on Sept 8, 2020 11:49:53 GMT 1, Have a look at banksy-value.com Hi. I have but with that latest auction prices changing so quick. banksy-value.com has been updated to reflect those already.
Have a look at banksy-value.com Hi. I have but with that latest auction prices changing so quick. banksy-value.com has been updated to reflect those already.
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tonys
New Member
Posts โข 424
Likes โข 344
July 2012
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Banksy Auction, by tonys on Sept 8, 2020 12:27:06 GMT 1, People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for? Genuinely interested in people's thoughts... *Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price? Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Put in simple terms - your house is worth ยฃ1m, but the estate agent takes 3% commission for selling it, then the buyer has to pay stamp duty
Is your house worth ยฃ1m or ยฃ970k or ยฃ1.03m
Ultimately, the commissions on auctions is a charge for the service and not inclusive of the price. Each auction house adds differing percentages, so the hammer price is the price it sells for IMO
People forget that the hammer price isnโt what the seller actually gets. Take 20% plus vat on the premium off the hammer price plus other fees and the net to seller prices arenโt as spectacular with the exception of a few lots. Reality is itโs the auction house that wins as they get from the seller and the buyer. I've never really understood this. As a seller lets say I have a copy of a print that a buyer has just paid Christie's ยฃ100k for. Obviously the demand is there. When I come to sell my print why would I market it at say 20% less than ยฃ100k when I know there are buyers out there paying ยฃ100k for that print? I appreciate you have a level of security with an auction house but we've recently seen auction houses selling high value prints with pending COA's etc. What exactly am I lowering the price of my print by 20% for? Genuinely interested in people's thoughts... *Obviously appreciate the argument that auction houses have overheads etc and will be marketing your print to a degree, but if I'm doing all that work privately why should there be any deduction from the top end price? Edit* Having read your comment back I've also realised you weren't specifically talking about people selling privately but have always been interested in other people's opinions.
Put in simple terms - your house is worth ยฃ1m, but the estate agent takes 3% commission for selling it, then the buyer has to pay stamp duty Is your house worth ยฃ1m or ยฃ970k or ยฃ1.03m Ultimately, the commissions on auctions is a charge for the service and not inclusive of the price. Each auction house adds differing percentages, so the hammer price is the price it sells for IMO
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samo
Junior Member
Posts โข 1,504
Likes โข 1,201
October 2007
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F*X
New Member
Posts โข 556
Likes โข 400
February 2009
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Banksy Auction, by F*X on Sept 8, 2020 21:58:38 GMT 1, Can someome please move this thread to the Urban Art Auctions page
Can someome please move this thread to the Urban Art Auctions page
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Deleted
Posts โข 0
Likes โข
January 1970
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I dont think it'll stay at 40K US$ + fees
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18921892
New Member
Posts โข 573
Likes โข 291
May 2020
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Banksy Auction, by 18921892 on Sept 9, 2020 7:42:04 GMT 1, I've seen that Flag in about 3 artnet auctions and it hasn't sold, I'm not sure why they don't take it to Sothebys? Or maybe buyers don't want to spend that kind of money on a non canvas piece.
I've seen that Flag in about 3 artnet auctions and it hasn't sold, I'm not sure why they don't take it to Sothebys? Or maybe buyers don't want to spend that kind of money on a non canvas piece.
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Winter
Junior Member
Posts โข 7,139
Likes โข 4,444
March 2007
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Banksy Auction, by Winter on Sept 9, 2020 7:44:24 GMT 1, This No Ball Games might go under a few radars. Surprised itโs not been put into a proper auction after recent results. www.artsy.net/artwork/banksy-no-ball-games-grey-46
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