Urban Art Association

Day job today irl1, golf at the weekend.

Might go for a beer in a bit though. Celebrate the monthly 7% !!!

Hi all
What's your thoughts on the values of unsigned HC and CND these gays? 

CND - £16-20k depending on condition. HC - £20-25k depending on condition. These are private treaty levels.

I’m guessing if the last one sold for £30k ish a few months ago then it’s probably closer to £35k ish now?

Yeah that was my gut feel. Don’t think these are at £40k yet but £30k feels cheap.

And an unsigned Because I'm Worthless? Red.

Thanks!
I always try to include VAT and ARR where it is payable.
There are two valuation metrics: automatic one is based on latest auction estimate + how many % index has gone up since last sale; and in the expert one I try to correct for outliers in results of that. I manually go through it every month. However I only update it based on factual auction trades and index development. This means that if there is eg a massive jump in short period on private market like right now, some estimates will be on low side until either the print is sold on auction or index is updated gradually.

Happy to take people’s steer on whether above is a good methodology. My thinking was to keep any hype or claimed sales outside of auction as much out of it as possible, but that has its weakness also.

Finally, I recently added a feature to allow for people to list their prints for sale. So far being tested with only a few ones know, but also wondering if there is interest in such place to aggregate prints available for private sale without having to pay big fees eg for Artsy or send them off to a gallery/auction?

www.banksy-value.com

its missing Choose Your Weapon Queue Jumper Grey fusion0001

Although I've only had a superficial glance at the site, you've done an impressive job. One can only imagine the number of hours that were put in.

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Perhaps an unrealistic ask from a workload perspective, but have you considered adding condition details (where available) for each piece sold? Depending on the collector, this aspect is sometimes crucial. [While no longer applicable to Banksy's market, with editioned works on paper at the three-figure level, I'm often willing to pay a high premium (x2 or x3) for those in pristine condition.]


A mechanism giving the user an option to exclude certain works from the search results could also be helpful — e.g. prints that are in distinctly poor condition, or unaccompanied by a certificate of authenticity from Pest Control Office. This would allow like-for-like comparisons to be made with greater accuracy.

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Regarding listed prices, my advice would be to follow the approach taken by high-end auction houses.

When posting results, most will typically list the hammer price plus buyer's premium. Nothing else. And for good reason (see especially point 3 below).


Some advantages of excluding VAT and ARR from sale results:


1.  Convenience; less work for you

Opting for the format used by many auction houses would allow you to just copy the sale results directly from their websites, without the need for separate arithmetic. Clearly, the easiest option. [Do note that initial results posted (while a sale is live or in the immediate aftermath) sometimes reflect the hammer price only.]


2.  Consistency

Most buyers who follow auction-house sales are very used to the manner in which their results are presented. There is an attractive logic in being consistent with the unambiguous, simple format that collectors are already familiar with.


3.  Elimination of unhelpful guesswork, artifice, and ethnocentricity

You mention always trying to include VAT and ARR "where it is payable". How would you find out? Presumably, you're relying on assumptions that could easily be false. The exclusion of VAT and ARR from sale-results figures would reduce the scope for erroneous / misleading data on your site.

3.1  Whether or not VAT is payable is dependent on the jurisdiction of the buyer. And this is information you generally won't be privy to. Quick illustration: With a winning bid at Sotheby's London, a UK- or France-based client would currently be liable to pay VAT on the buyer's premium. However, the same would not apply to a US-based client.

3.2  As for ARR, this is dependent on the location of sale (in some cases, a seller's residence may also be a relevant factor). Remember that the concept of droit the suite / artist's resale right isn't recognised everywhere. See the United States, for example. And when ARR is applicable, a country's laws might provide that liability rests with the seller, not with the buyer. Likewise (and again where applicable), the sliding scale and percentages used for ARR calculations may vary according to the jurisdiction where the sale took place. Uniformity in this respect isn't a luxury you can therefore count on.

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Hope the above comments are of assistance. Good luck to you going forward.

Do you mean June ? 

I love the way you have slipped in you're now a 'dealer' of Banksy prints and you will pay the hammer prices.

I cant wait to see the correlation on this. For your tool / Banksy dealing service to be taken seriously this will have to be in line going forward.

For example, we have had two unsigned GS's print @ £28k all in, am I right in saying you will now pay hammer price ? 

Looking forward to how this evolves.

Seems like the cyw section could use the most help, you’re not going to be able to buy a red for anywhere near 55k, and the silver from the Williams auction had condition issues and may have been stuck to the matte, ditto you won’t find a silver near 55k.  Which (the silver) should possibly be excluded anyway, as the site mentioned “special prints excluded”.  (Also confused by the no AP used , but theres a section on multicolored Nola’s which are AP’s)

writing this strictly to try and be constructive and not dismissive.  I’d think “weaker colors “ cyw could fall into the 45-55 range, but not for others, some which may command 50 to 100 percent more than the estimates. 

Probably more likely that someone here made it than Banksy... if that’s what you’re asking!?

Say what you see 😂

Sorry if its a silly question but why do you have two different listings on the Banksy value site for coloured soup cans? one gives a max price of £25k and the other says £50k? both are coloured soup cans - any clues on this?