Urban Art Association

Pink ap a quarter of a milly ?

Is that Christie’s auction result on the NOLA (white) (127k gbp) an outlier or do we think that’s where Nola prices really are right now?

That’s wild. There was one on prescription art a few months ago for like half that. Lucky buyer.

Ed 25 Choose your weapon 135000 £

I wanted to post here a short report I pulled together with some nice data on price development for Banksy prints in 2020. I posted it on banksy-value last week, but wanted to post the full thing here for discussion:

What do the numbers say?

Banksy print prices have performed well during 2020 with an overall increase of 104% in Banksy Price Index, implying on average doubling of print value. While the recent rally make most of us feel like the performance was totally immune to the pandemic this was not necessarily the case. During early 2020 there was a clear and pronounced "hesitation" in the market, as shown in the figure below, which has been indexed vs August 2019 price levels. The downside was minimal, which definitely has helped with the confidence in print pricing over the summer and contributed towards the rally over last months.



At the same time we have seen a significant volume of auctions. While the volumes and prices achieved at auction may feel high, they are fully in line with historical volumes and auction premiums vs Banksy Print Index. During last 12 months there has been 314 Banksy prints sold at auction, while during previous period the number was 300. This is only a 5% increase, while same increase last year was >45%. Despite what it may feel like, we are not seeing much more prints flowing to auction. Average print price at auction has also increased from £23k to 42.5k£, which seems below the value increase of prints, but is likely justified by increased number of lower-end unsigned prints coming to auction. These trends are illustrated below (keep in mind that the data is mapped in periods from September to September to make it comparable to last 12 months).



Is the price increase unprecedented?

We have never seen a 50% month-on-month price increase in Banksy Print Index and we have also never seen a 100% increase year-on-year. However, there are a few situations that have come close:

• >10% increases are fairly common month-on-month with strong performance on major auctions, last one being the 14% increase on Sotheby's Online in September 2019
  
• >50% annual increases have also happened several times:
  55% increase in 2017, 60% increase from mid-2014 to mid-2015, 45% increase from mid-2010 to mid-2011 

There are indeed significant differences in performance across prints. Firstly, signed have clearly outperformed unsigned. The value increase in unsigned has been as far as 2x compared to signed prints. Historically there has never been such separation in value.



There has also been separation in performance of different print categories. I have split all prints into high-end and low-end to illustrate this. As high-end I have defined signed with value £>75k as of September and unsigned with value £>45k, while other prints fall into low-end. The resulting chart is interesting, as it shows that low-end unsigned have by far outperformed other print segments (e.g. prints like Flags, Napalm and Toxic Mary that were unwanted last year are now selling in £30k range), while for signed prints the high-end prints have performed better than low-end.

Khaki and olive have historically traded below the brighter ones. 

It was two weeks ago and I bought it (and yes it was cheap).....

What unsigned prints are available in the $30-$35K USD range?

Yeah, I thought flags for sure. If anyone is selling DM me. 

Toxic Mary, Napalm, middle england.

Should have added sweetheart, sound even more condesending.  

So what are the current paid prices for the bristol museum show posters, excluding monkey parliament? Stored flat like new

Wsm