Pafori
New Member
Posts โข 92
Likes โข 109
May 2017
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Christie's Art Auctions , by Pafori on Mar 14, 2023 22:42:58 GMT 1, What's the logic in having so many Banksy's in a online only auction that is titled 'Contemporary Edition: London' ?
I wonder if too few people saw this auction, if having so many Banksy's in one place (I counted 28) undermined buyer perception of scarcity, and without in-person bidding, was energy missing?
Not trying to diminish the current underlying economic climate, just seems this auction had poor market positioning given the times.
I'm interested in others' comments who have more experience?
What's the logic in having so many Banksy's in a online only auction that is titled 'Contemporary Edition: London' ?
I wonder if too few people saw this auction, if having so many Banksy's in one place (I counted 28) undermined buyer perception of scarcity, and without in-person bidding, was energy missing?
Not trying to diminish the current underlying economic climate, just seems this auction had poor market positioning given the times.
I'm interested in others' comments who have more experience?
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Dice
Junior Member
Posts โข 2,195
Likes โข 1,487
October 2011
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Christie's Art Auctions , by Dice on Mar 15, 2023 8:22:39 GMT 1, Itโs funny world. If the drones were painted onto canvas in an edition of 50 they would be selling for hundreds of thousands.
Hand painted edition of 50 with COA this does feel like a bit of a bargain.
Itโs funny world. If the drones were painted onto canvas in an edition of 50 they would be selling for hundreds of thousands.
Hand painted edition of 50 with COA this does feel like a bit of a bargain.
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Christie's Art Auctions , by Carl Cashman Art on Mar 15, 2023 11:02:44 GMT 1, Itโs funny world. If the drones were painted onto canvas in an edition of 50 they would be selling for hundreds of thousands. Hand painted edition of 50 with COA this does feel like a bit of a bargain. 50 sets is quite a lot though, I remember the grappling hooks not doing great in the first few auctions and they are proper museum grade works of Art. If the drones are the same as what was at The Walled off, they are pretty small... they are quality though.
Itโs funny world. If the drones were painted onto canvas in an edition of 50 they would be selling for hundreds of thousands. Hand painted edition of 50 with COA this does feel like a bit of a bargain. 50 sets is quite a lot though, I remember the grappling hooks not doing great in the first few auctions and they are proper museum grade works of Art. If the drones are the same as what was at The Walled off, they are pretty small... they are quality though.
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Christie's Art Auctions , by netforeignquotient on Mar 16, 2023 0:06:13 GMT 1, One Banksquiat sells for 113k USD last month at Phillips and then this one at Christie's doesn't even hit 55k GBP/66k USD. What changed so rapidly?
One Banksquiat sells for 113k USD last month at Phillips and then this one at Christie's doesn't even hit 55k GBP/66k USD. What changed so rapidly?
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withnail69
New Member
Posts โข 527
Likes โข 378
April 2018
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Christie's Art Auctions , by withnail69 on Mar 20, 2023 11:25:38 GMT 1, What's the logic in having so many Banksy's in a online only auction that is titled 'Contemporary Edition: London' ? I wonder if too few people saw this auction, if having so many Banksy's in one place (I counted 28) undermined buyer perception of scarcity, and without in-person bidding, was energy missing? Not trying to diminish the current underlying economic climate, just seems this auction had poor market positioning given the times. I'm interested in others' comments who have more experience? I sold at this equivalent auction in March 2022. I'm so I glad I did now. My only regret is not selling in 2021. Christies seem to do zero advertising. Their comms to sellers and pretty much everyone else is awful. I'm talking months just for an email reply and right up until the hammer strike I was being pressured to lower my reserve which I didn't and the sale just about made reserve. I don't understand why these online only auctions aren't advertised more in the national press
What's the logic in having so many Banksy's in a online only auction that is titled 'Contemporary Edition: London' ? I wonder if too few people saw this auction, if having so many Banksy's in one place (I counted 28) undermined buyer perception of scarcity, and without in-person bidding, was energy missing? Not trying to diminish the current underlying economic climate, just seems this auction had poor market positioning given the times. I'm interested in others' comments who have more experience? I sold at this equivalent auction in March 2022. I'm so I glad I did now. My only regret is not selling in 2021. Christies seem to do zero advertising. Their comms to sellers and pretty much everyone else is awful. I'm talking months just for an email reply and right up until the hammer strike I was being pressured to lower my reserve which I didn't and the sale just about made reserve. I don't understand why these online only auctions aren't advertised more in the national press
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Manty
New Member
Posts โข 210
Likes โข 279
June 2022
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Christie's Art Auctions , by Manty on Mar 20, 2023 12:05:40 GMT 1, What's the logic in having so many Banksy's in a online only auction that is titled 'Contemporary Edition: London' ? I wonder if too few people saw this auction, if having so many Banksy's in one place (I counted 28) undermined buyer perception of scarcity, and without in-person bidding, was energy missing? Not trying to diminish the current underlying economic climate, just seems this auction had poor market positioning given the times. I'm interested in others' comments who have more experience? I sold at this equivalent auction in March 2022. I'm so I glad I did now. My only regret is not selling in 2021. Christies seem to do zero advertising. Their comms to sellers and pretty much everyone else is awful. I'm talking months just for an email reply and right up until the hammer strike I was being pressured to lower my reserve which I didn't and the sale just about made reserve. I don't understand why these online only auctions aren't advertised more in the national press
Profit and lazy cash cow for them. They are not adding value but are diluting
What's the logic in having so many Banksy's in a online only auction that is titled 'Contemporary Edition: London' ? I wonder if too few people saw this auction, if having so many Banksy's in one place (I counted 28) undermined buyer perception of scarcity, and without in-person bidding, was energy missing? Not trying to diminish the current underlying economic climate, just seems this auction had poor market positioning given the times. I'm interested in others' comments who have more experience? I sold at this equivalent auction in March 2022. I'm so I glad I did now. My only regret is not selling in 2021. Christies seem to do zero advertising. Their comms to sellers and pretty much everyone else is awful. I'm talking months just for an email reply and right up until the hammer strike I was being pressured to lower my reserve which I didn't and the sale just about made reserve. I don't understand why these online only auctions aren't advertised more in the national press Profit and lazy cash cow for them. They are not adding value but are diluting
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adknow
New Member
Posts โข 8
Likes โข 0
March 2007
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Christie's Art Auctions , by adknow on Sept 13, 2023 19:43:43 GMT 1, I was considering buying a new Banksy print and a friend send me a link to an ongoing Christie's auction.
onlineonly.christies.com/s/contemporary-edition/lots/3309?page=2&sortby=LotNumber
They had a total of 17 prints for sale, with some excellent pieces. The starting bid prices seem to be fairly competitive. Anyone bought from them in the past?
Do you know the upsides and downsides from buying from them? Would love to hear people's opinion.
I was considering buying a new Banksy print and a friend send me a link to an ongoing Christie's auction. onlineonly.christies.com/s/contemporary-edition/lots/3309?page=2&sortby=LotNumberThey had a total of 17 prints for sale, with some excellent pieces. The starting bid prices seem to be fairly competitive. Anyone bought from them in the past? Do you know the upsides and downsides from buying from them? Would love to hear people's opinion.
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Sundowner
Junior Member
Posts โข 4,221
Likes โข 2,425
September 2008
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Christie's Art Auctions , by Sundowner on Sept 13, 2023 19:52:58 GMT 1, Christieโs are a very reputable auction house and Iโve bought from them many times and never had an issue. I think some of the prices are reasonable, some are ambitious in the current market (even at the low estimate) when you factor in that you will have to add c35% to the hammer price for Buyers Premium, VAT and ARR when you buy.
Christieโs are a very reputable auction house and Iโve bought from them many times and never had an issue. I think some of the prices are reasonable, some are ambitious in the current market (even at the low estimate) when you factor in that you will have to add c35% to the hammer price for Buyers Premium, VAT and ARR when you buy.
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Christie's Art Auctions , by Pete the Post on Sept 13, 2023 21:15:01 GMT 1, Christieโs are a very reputable auction house and Iโve bought from them many times and never had an issue. I think some of the prices are reasonable, some are ambitious in the current market (even at the low estimate) when you factor in that you will have to add c35% to the hammer price for Buyers Premium, VAT and ARR when you buy. I chucked a bid on something earlier, they now have a little calculator to work all that out when you bid.
It is also possible its been there years and i only just noticed!
Christieโs are a very reputable auction house and Iโve bought from them many times and never had an issue. I think some of the prices are reasonable, some are ambitious in the current market (even at the low estimate) when you factor in that you will have to add c35% to the hammer price for Buyers Premium, VAT and ARR when you buy. I chucked a bid on something earlier, they now have a little calculator to work all that out when you bid. It is also possible its been there years and i only just noticed!
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robo
Junior Member
Posts โข 1,578
Likes โข 1,002
November 2006
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Christie's Art Auctions , by robo on Sept 13, 2023 21:33:49 GMT 1, Some great pieces in this sale including 3 excellent Bridget Rileys.
Some great pieces in this sale including 3 excellent Bridget Rileys.
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Christie's Art Auctions , by concrete jungle on Sept 13, 2023 22:26:19 GMT 1, Agreed - great auction. Loads of top quality pieces - very little filler. Think (for the most part) estimates look reasonable on the works and artists I know. Agree the Bridget Rileyโs are a highlight - love that Ra (inverted)๐ฌ
Agreed - great auction. Loads of top quality pieces - very little filler. Think (for the most part) estimates look reasonable on the works and artists I know. Agree the Bridget Rileyโs are a highlight - love that Ra (inverted)๐ฌ
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met
Junior Member
Posts โข 2,675
Likes โข 6,276
June 2009
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Christie's Art Auctions , by met on Sept 14, 2023 3:40:50 GMT 1, I was considering buying a new Banksy print and a friend send me a link to an ongoing Christie's auction. onlineonly.christies.com/s/contemporary-edition/lots/3309?page=2&sortby=LotNumberThey had a total of 17 prints for sale, with some excellent pieces. The starting bid prices seem to be fairly competitive. Anyone bought from them in the past? Do you know the upsides and downsides from buying from them? Would love to hear people's opinion.
1. Leaving aside purchasing directly from source, it would be difficult to get better provenance than for an auction item coming from Christie's or Sotheby's โ even if it is but a mere online‑only sale.
The flipside is that there is often a premium attached to such desirable provenance.
All other things being equal, including any condition issues, you may very well be able to secure the same editioned artworks more cheaply at second or thirdโtier auction houses. Or at frankly-dodgy auction houses or other platforms like eBay, where much greater caution and enhanced verification checks become necessary.
2. If serious about any of the Christie's lots, make sure to attend one of the viewing days at 8 King Street, London SW1Y 6QT*.
Relying solely on condition reports can be unwise in my opinion, especially if you have the opportunity to see the relevant lots in person.
3. Should you decide to register to bid, do your pricing due diligence beforehand on any artworks of interest.
Then set maximum bid limits for yourself. It is worth writing these figures down on a sheet of paper, and undertaking to not exceed them.
Provided you've done your homework thoroughly on recent sale results for identical or comparable editioned pieces (in the current market, stick to auction results from the last 12 months), your maximum bid limits should normally be defensible.
What you should seek to expressly avoid is becoming emotional while bidding. This easily occurs in the heat of the moment.
When others are competing against us for the same lots, our egos can interfere with the rational decision-making process. We then risk "winning" stupidly, by paying above the odds, instead of walking away if the bidding goes beyond our preset limits.
4. As already referred to in this thread, remember to add 35โ36% on top of each bid you make.
The final amount due to the auction house will be the hammer price, plus the buyer's premium of 26%, VAT at 20% on the buyer's premium, and the droit de suite / artist's resale royalty. You may also need to factor in separate shipping charges.
See section D of the Christie's Conditions of Sale*.
__________
Scanning this Contemporary Edition sale, what strikes me most is the following:
The two Josh Sperling items (lots 4* and 11*) and the Javier Calleja diptych (lot 135*) have already received bidding at levels in excess of their artistic value.
And there are still two weeks left to go.
Sadly, that leaves me out of the running for those pieces.
Just can't compete with the highโrollin' sneaker boyz. All I can do is eat their dust.
Lot 4
Lot 11
Lot 135
I was considering buying a new Banksy print and a friend send me a link to an ongoing Christie's auction. onlineonly.christies.com/s/contemporary-edition/lots/3309?page=2&sortby=LotNumberThey had a total of 17 prints for sale, with some excellent pieces. The starting bid prices seem to be fairly competitive. Anyone bought from them in the past? Do you know the upsides and downsides from buying from them? Would love to hear people's opinion. 1. Leaving aside purchasing directly from source, it would be difficult to get better provenance than for an auction item coming from Chris tie's or Soth eby's โ even if it is but a mere online‑only sale. The flipside is that there is often a premium attached to such desirable provenance. All other things being equal, including any condition issues, you may very well be able to secure the same editioned artworks more cheaply at second or thirdโtier auction houses. Or at frankly-dodgy auction houses or other platforms like eB ay, where much greater caution and enhanced verification checks become necessary. 2. If serious about any of the Chris tie's lots, make sure to attend one of the viewing days at 8 King Street, Lon don SW1Y 6QT *. Relying solely on condition reports can be unwise in my opinion, especially if you have the opportunity to see the relevant lots in person. 3. Should you decide to register to bid, do your pricing due diligence beforehand on any artworks of interest. Then set maximum bid limits for yourself. It is worth writing these figures down on a sheet of paper, and undertaking to not exceed them. Provided you've done your homework thoroughly on recent sale results for identical or comparable editioned pieces (in the current market, stick to auction results from the last 12 months), your maximum bid limits should normally be defensible. What you should seek to expressly avoid is becoming emotional while bidding. This easily occurs in the heat of the moment. When others are competing against us for the same lots, our egos can interfere with the rational decision-making process. We then risk "winning" stupidly, by paying above the odds, instead of walking away if the bidding goes beyond our preset limits. 4. As already referred to in this thread, remember to add 35โ36% on top of each bid you make. The final amount due to the auction house will be the hammer price, plus the buyer's premium of 26%, VAT at 20% on the buyer's premium, and the droit de suite / artist's resale royalty. You may also need to factor in separate shipping charges. See section D of the Chris tie's Conditions of Sale *. __________ Scanning this Contemporary Edition sale, what strikes me most is the following: The two Josh Sperling items (lots 4 * and 11 *) and the Javier Calleja diptych (lot 135 *) have already received bidding at levels in excess of their artistic value. And there are still two weeks left to go. Sadly, that leaves me out of the running for those pieces. Just can't compete with the highโrollin' sneaker boyz. All I can do is eat their dust. Lot 4Lot 11Lot 135
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sevrin
New Member
Posts โข 537
Likes โข 619
February 2022
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Christie's Art Auctions , by sevrin on Sept 20, 2023 21:21:39 GMT 1, Some fantastic pieces there, Thanks for posting!
Some fantastic pieces there, Thanks for posting!
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cemltz
New Member
Posts โข 396
Likes โข 702
October 2022
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Christie's Art Auctions , by cemltz on Sept 21, 2023 0:33:11 GMT 1, Selling both of the Warhol Moonwalks as one lot seems to me a strange decision. I am in the market for one. But not buying two.
Selling both of the Warhol Moonwalks as one lot seems to me a strange decision. I am in the market for one. But not buying two.
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Hubble Bubble
Junior Member
Posts โข 4,094
Likes โข 3,525
December 2010
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Christie's Art Auctions , by Hubble Bubble on Sept 21, 2023 11:50:31 GMT 1, I only hope nobody copies this in a reply! HB
I only hope nobody copies this in a reply! HB
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robo
Junior Member
Posts โข 1,578
Likes โข 1,002
November 2006
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robo
Junior Member
Posts โข 1,578
Likes โข 1,002
November 2006
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Christie's Art Auctions , by robo on Sept 28, 2023 13:24:53 GMT 1, Wonder if the Banksys will get some last minute bidding. Collectors could scoop some bargains here.
onlineonly.christies.com/s/contemporary-edition/3309
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Christie's Art Auctions , by The Italian One on Sept 28, 2023 14:07:06 GMT 1, the richter HENI ed of 200 unsigned already at 15k
the richter HENI ed of 200 unsigned already at 15k
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topper
New Member
Posts โข 252
Likes โข 377
February 2023
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Christie's Art Auctions , by topper on Sept 28, 2023 18:32:47 GMT 1, Some absolute bargains had here.
Some absolute bargains had here.
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Blue
New Member
Posts โข 292
Likes โข 339
September 2021
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Christie's Art Auctions , by Blue on Sept 28, 2023 18:59:59 GMT 1, Are we at the bottom yet?
Are we at the bottom yet?
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Londown 01
New Member
Posts โข 883
Likes โข 775
September 2021
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Christie's Art Auctions , by Londown 01 on Sept 28, 2023 19:17:53 GMT 1, wow the results are an exciting read
wow the results are an exciting read
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jp
New Member
Posts โข 421
Likes โข 480
September 2006
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Christie's Art Auctions , by jp on Sept 28, 2023 21:05:36 GMT 1, Do the results include premium? I could not see any indication one way or another.
Either way, a very mixed bag. The most sought after prints from several artists (Banksy, Shrigley, Hirst, Miller),generally are doing well as long as they were not priced at 2022 estimates. Mid tier prints are struggling. Less desirable prints not getting bids at all. A flight to quality it seems.
Do the results include premium? I could not see any indication one way or another.
Either way, a very mixed bag. The most sought after prints from several artists (Banksy, Shrigley, Hirst, Miller),generally are doing well as long as they were not priced at 2022 estimates. Mid tier prints are struggling. Less desirable prints not getting bids at all. A flight to quality it seems.
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Blue
New Member
Posts โข 292
Likes โข 339
September 2021
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Christie's Art Auctions , by Blue on Sept 28, 2023 21:08:23 GMT 1, Do the results include premium? I could not see any indication one way or another. Either way, a very mixed bag. The most sought after prints from several artists (Banksy, Shrigley, Hirst, Miller),generally are doing well as long as they were not priced at 2022 estimates. Mid tier prints are struggling. Less desirable prints not getting bids at all. A flight to quality it seems. Yep, prices include BP
Do the results include premium? I could not see any indication one way or another. Either way, a very mixed bag. The most sought after prints from several artists (Banksy, Shrigley, Hirst, Miller),generally are doing well as long as they were not priced at 2022 estimates. Mid tier prints are struggling. Less desirable prints not getting bids at all. A flight to quality it seems. Yep, prices include BP
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Cardiff
Junior Member
Posts โข 1,697
Likes โข 1,471
January 2009
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Christie's Art Auctions , by Cardiff on Sept 28, 2023 21:43:58 GMT 1, Do the results include premium? I could not see any indication one way or another. Either way, a very mixed bag. The most sought after prints from several artists (Banksy, Shrigley, Hirst, Miller),generally are doing well as long as they were not priced at 2022 estimates. Mid tier prints are struggling. Less desirable prints not getting bids at all. A flight to quality it seems. Yep, prices include BP Yikes...didn't realize that.
Do the results include premium? I could not see any indication one way or another. Either way, a very mixed bag. The most sought after prints from several artists (Banksy, Shrigley, Hirst, Miller),generally are doing well as long as they were not priced at 2022 estimates. Mid tier prints are struggling. Less desirable prints not getting bids at all. A flight to quality it seems. Yep, prices include BP Yikes...didn't realize that.
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topper
New Member
Posts โข 252
Likes โข 377
February 2023
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Christie's Art Auctions , by topper on Sept 28, 2023 21:58:28 GMT 1, Are we at the bottom yet? Well plenty of people certainly don't seem to think so, looking at these results. Fill your boots if you have the balls/money imo.
Are we at the bottom yet? Well plenty of people certainly don't seem to think so, looking at these results. Fill your boots if you have the balls/money imo.
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jaws2000
New Member
Posts โข 22
Likes โข 9
July 2022
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Christie's Art Auctions , by jaws2000 on Sept 28, 2023 23:53:57 GMT 1, Totally agree,hit the bottom in the art market and the stock market only way now is up !
Totally agree,hit the bottom in the art market and the stock market only way now is up !
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tonys
New Member
Posts โข 424
Likes โข 344
July 2012
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Christie's Art Auctions , by tonys on Sept 29, 2023 12:46:17 GMT 1, So long as Interest Rates remain high, there'll be less speculation in the art market for sure.
So long as Interest Rates remain high, there'll be less speculation in the art market for sure.
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robo
Junior Member
Posts โข 1,578
Likes โข 1,002
November 2006
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