tab1
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September 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by tab1 on Sept 19, 2020 13:03:42 GMT 1, Of course no one knows but my take on it is the people spending these sums aren't stupid, they're not going to spend ยฃ230k on a print that was ยฃ30k a few months back if they didn't know Banksy is going to be heavily backed in the coming years. Fully agree with your post, the people who have the money are not stupid, they are not thinking from month to month or maybe in a period of one year, they are thinking long term. I hope that, a lot of people will put now there works at the market, that the prices fall a bit, so it is a nice opportunity to get them for a nice price.
At these prices , it is bringing more prints to the market That may had not been sold otherwise as seen by the high numbers of banksy posts here , once these sell these will not be seen on the market for many years as noted at these prices are long term investments 10+ Years ? The next stage that may confirm this is when the canvases hit A dedicated auction .
The few that come on the market in the mean time will steady the prices .
The box sets will see a big jump soon with the hotel likely to be closed for the longterm
Of course no one knows but my take on it is the people spending these sums aren't stupid, they're not going to spend ยฃ230k on a print that was ยฃ30k a few months back if they didn't know Banksy is going to be heavily backed in the coming years. Fully agree with your post, the people who have the money are not stupid, they are not thinking from month to month or maybe in a period of one year, they are thinking long term. I hope that, a lot of people will put now there works at the market, that the prices fall a bit, so it is a nice opportunity to get them for a nice price. At these prices , it is bringing more prints to the market That may had not been sold otherwise as seen by the high numbers of banksy posts here , once these sell these will not be seen on the market for many years as noted at these prices are long term investments 10+ Years ? The next stage that may confirm this is when the canvases hit A dedicated auction . The few that come on the market in the mean time will steady the prices . The box sets will see a big jump soon with the hotel likely to be closed for the longterm
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medichead
New Member
Posts โข 575
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January 2017
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by medichead on Sept 19, 2020 13:15:58 GMT 1, Iโve got a feeling that prices wonโt be this high in the coming months... and Flags wonโt continue to sell for ยฃ40,000. Interesting that this was billed as a dedicated Banksy sale, though, perhaps other items have gone unnoticed by people looking for Banksy prints as theyโve been part of a broader theme Of course no one knows but my take on it is the people spending these sums aren't stupid, they're not going to spend ยฃ230k on a print that was ยฃ30k a few months back if they didn't know Banksy is going to be heavily backed in the coming years.
You say they arenโt stupid, I beg to differ.
People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term.
I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist.
Iโve got a feeling that prices wonโt be this high in the coming months... and Flags wonโt continue to sell for ยฃ40,000. Interesting that this was billed as a dedicated Banksy sale, though, perhaps other items have gone unnoticed by people looking for Banksy prints as theyโve been part of a broader theme Of course no one knows but my take on it is the people spending these sums aren't stupid, they're not going to spend ยฃ230k on a print that was ยฃ30k a few months back if they didn't know Banksy is going to be heavily backed in the coming years. You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist.
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irl1
Full Member
Posts โข 9,274
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December 2017
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by irl1 on Sept 19, 2020 13:16:45 GMT 1, Hidden Gallery today Silver Flag , 2006 As Banksy prices continue to soar, limited editions are becoming increasingly difficult to find. Original screenprint on silver chromalux paper 76 ร 114 cm Edition of 1000 - Numbered on the verso Accompanied by Pest Control certification ยฃ28,500 Silver flags ยฃ44,000!!!!! Oh man that's crazy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hidden Gallery today Silver Flag , 2006 As Banksy prices continue to soar, limited editions are becoming increasingly difficult to find. Original screenprint on silver chromalux paper 76 ร 114 cm Edition of 1000 - Numbered on the verso Accompanied by Pest Control certification ยฃ28,500 Silver flags ยฃ44,000!!!!! Oh man that's crazy !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Lazarus II
Junior Member
Posts โข 1,803
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August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 13:22:49 GMT 1, 8 prints for sale on here on 24 hours ! First time I have seen that too ๐ (Yes I realise I am talking to myself) Direct to the market and auctions from now on with the monies involved for most sellers They had a good run Gdp rats, posters and mats from now on ๐ฌ that european court case the other day really hit his market, particularly the flower throwing image...
8 prints for sale on here on 24 hours ! First time I have seen that too ๐ (Yes I realise I am talking to myself) Direct to the market and auctions from now on with the monies involved for most sellers They had a good run Gdp rats, posters and mats from now on ๐ฌ that european court case the other day really hit his market, particularly the flower throwing image...
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tab1
Full Member
Posts โข 8,519
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September 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by tab1 on Sept 19, 2020 13:28:13 GMT 1, Of course no one knows but my take on it is the people spending these sums aren't stupid, they're not going to spend ยฃ230k on a print that was ยฃ30k a few months back if they didn't know Banksy is going to be heavily backed in the coming years. You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist.
A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth
Of course no one knows but my take on it is the people spending these sums aren't stupid, they're not going to spend ยฃ230k on a print that was ยฃ30k a few months back if they didn't know Banksy is going to be heavily backed in the coming years. You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth
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Deleted
Posts โข 0
Likes โข
January 1970
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Deleted on Sept 19, 2020 13:34:20 GMT 1, You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth
In my opinion one of the best posts in this thread!!!
You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth In my opinion one of the best posts in this thread!!!
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Lazarus II
Junior Member
Posts โข 1,803
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August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 13:35:46 GMT 1, You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth hardly a display of wealth if you purchased years ago for ยฃ50 or ยฃ100 and still have them as many have done?
You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth hardly a display of wealth if you purchased years ago for ยฃ50 or ยฃ100 and still have them as many have done?
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vandamme
New Member
Posts โข 297
Likes โข 305
May 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by vandamme on Sept 19, 2020 13:37:01 GMT 1, Thatโs a good point, the courts have probably raised his bad boy profile too just by calling him a criminal.
Originally I would have thought the ruling would have had a negative effect on the flower thrower image
Direct to the market and auctions from now on with the monies involved for most sellers They had a good run Gdp rats, posters and mats from now on ๐ฌ that european court case the other day really hit his market, particularly the flower throwing image...
Thatโs a good point, the courts have probably raised his bad boy profile too just by calling him a criminal. Originally I would have thought the ruling would have had a negative effect on the flower thrower image Direct to the market and auctions from now on with the monies involved for most sellers They had a good run Gdp rats, posters and mats from now on ๐ฌ that european court case the other day really hit his market, particularly the flower throwing image...
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Lazarus II
Junior Member
Posts โข 1,803
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August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 13:41:50 GMT 1, Thatโs a good point, the courts have probably raised his bad boy profile too just by calling him a criminal. Originally I would have thought the ruling would have had a negative effect on the flower thrower image that european court case the other day really hit his market, particularly the flower throwing image... my tongue was in my cheek, i cant see how a ruling on who can use an image thats been on calendars, mugs and mousemats for years could impact the value of this or any of his work but i could easily be wrong.
Thatโs a good point, the courts have probably raised his bad boy profile too just by calling him a criminal. Originally I would have thought the ruling would have had a negative effect on the flower thrower image that european court case the other day really hit his market, particularly the flower throwing image... my tongue was in my cheek, i cant see how a ruling on who can use an image thats been on calendars, mugs and mousemats for years could impact the value of this or any of his work but i could easily be wrong.
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tab1
Full Member
Posts โข 8,519
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September 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by tab1 on Sept 19, 2020 13:44:28 GMT 1, A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth hardly a display of wealth if you purchased years ago for ยฃ50 or ยฃ100 and still have them as many have done?
Take away the fact The time of purchase ,
If you discussed with a stranger you had a banksy and that stranger was aware of banksy prices via the news which always highlights and displays high auction results ,one would assume you were wealthy again if you still owned the banksy at todayโs prices and chose not to sell , may assume you are wealthy not to need the money by still being in possession of the piece
More so statement relates to new buyers at these prices , as just mentioning the artist now equates to expense which some like to name drop in their collections
A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth hardly a display of wealth if you purchased years ago for ยฃ50 or ยฃ100 and still have them as many have done? Take away the fact The time of purchase , If you discussed with a stranger you had a banksy and that stranger was aware of banksy prices via the news which always highlights and displays high auction results ,one would assume you were wealthy again if you still owned the banksy at todayโs prices and chose not to sell , may assume you are wealthy not to need the money by still being in possession of the piece More so statement relates to new buyers at these prices , as just mentioning the artist now equates to expense which some like to name drop in their collections
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coller
Junior Member
Posts โข 2,381
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April 2015
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by coller on Sept 19, 2020 13:45:06 GMT 1, what has happened in the past year is very different than what happened between 2010-2019
i'm not encouraging anyone to buy an unsigned edition in the six figures, i can tell you that much
and i think ppl on this forum should be skeptical of anyone encouraging them to do something like buy a silver flags at 40k
what has happened in the past year is very different than what happened between 2010-2019
i'm not encouraging anyone to buy an unsigned edition in the six figures, i can tell you that much
and i think ppl on this forum should be skeptical of anyone encouraging them to do something like buy a silver flags at 40k
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vandamme
New Member
Posts โข 297
Likes โข 305
May 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by vandamme on Sept 19, 2020 13:49:32 GMT 1, At these kind of figures you should only invest if you can afford to lose it
what has happened in the past year is very different than what happened between 2010-2019 i'm not encouraging anyone to buy an unsigned edition in the six figures, i can tell you that much and i think ppl on this forum should be skeptical of anyone encouraging them to do something like buy a silver flags at 40k
At these kind of figures you should only invest if you can afford to lose it what has happened in the past year is very different than what happened between 2010-2019 i'm not encouraging anyone to buy an unsigned edition in the six figures, i can tell you that much and i think ppl on this forum should be skeptical of anyone encouraging them to do something like buy a silver flags at 40k
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Lazarus II
Junior Member
Posts โข 1,803
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August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 13:50:19 GMT 1, hardly a display of wealth if you purchased years ago for ยฃ50 or ยฃ100 and still have them as many have done? Take away the fact The time of purchase , If you discussed with a stranger you had a banksy and that stranger was aware of banksy prices via the news which always highlights and displays high auction results ,one would assume you were wealthy again if you still owned the banksy at todayโs prices and chose not to sell , may assume you are wealthy not to need the money by still being in possession of the piece More so statement relates to new buyers at these prices , as just mentioning the artist now equates to expense which some like to name drop in their collections if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth, you sound like Trump, โif you take away the Blue statesโ
hardly a display of wealth if you purchased years ago for ยฃ50 or ยฃ100 and still have them as many have done? Take away the fact The time of purchase , If you discussed with a stranger you had a banksy and that stranger was aware of banksy prices via the news which always highlights and displays high auction results ,one would assume you were wealthy again if you still owned the banksy at todayโs prices and chose not to sell , may assume you are wealthy not to need the money by still being in possession of the piece More so statement relates to new buyers at these prices , as just mentioning the artist now equates to expense which some like to name drop in their collections if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth, you sound like Trump, โif you take away the Blue statesโ
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tab1
Full Member
Posts โข 8,519
Likes โข 3,679
September 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by tab1 on Sept 19, 2020 13:53:03 GMT 1, Take away the fact The time of purchase , If you discussed with a stranger you had a banksy and that stranger was aware of banksy prices via the news which always highlights and displays high auction results ,one would assume you were wealthy again if you still owned the banksy at todayโs prices and chose not to sell , may assume you are wealthy not to need the money by still being in possession of the piece More so statement relates to new buyers at these prices , as just mentioning the artist now equates to expense which some like to name drop in their collections if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth, you sound like Trump, โif you take away the Blue statesโ
Pointless having a civil discussion with you
Arrogant Twit comparing me to a racist imbecile
Take away the fact The time of purchase , If you discussed with a stranger you had a banksy and that stranger was aware of banksy prices via the news which always highlights and displays high auction results ,one would assume you were wealthy again if you still owned the banksy at todayโs prices and chose not to sell , may assume you are wealthy not to need the money by still being in possession of the piece More so statement relates to new buyers at these prices , as just mentioning the artist now equates to expense which some like to name drop in their collections if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth, you sound like Trump, โif you take away the Blue statesโ Pointless having a civil discussion with you Arrogant Twit comparing me to a racist imbecile
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Lazarus II
Junior Member
Posts โข 1,803
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August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 13:57:11 GMT 1, if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth, you sound like Trump, โif you take away the Blue statesโ Pointless having a civil discussion with you Arrogant Twit comparing me to a racist imbecile if something cost you ยฃ50 its hardly a display of wealth and you cant discount the date you purchased it as you have chosen to do. Not everyone has purchased Banksy prints at high prices.
I didnt compare you to Trump or his views of policies in general, i was saying you chose to discount date of purchase which i feel is relevant to whether or not owning a banksy is a display of wealth.
if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth, you sound like Trump, โif you take away the Blue statesโ Pointless having a civil discussion with you Arrogant Twit comparing me to a racist imbecile if something cost you ยฃ50 its hardly a display of wealth and you cant discount the date you purchased it as you have chosen to do. Not everyone has purchased Banksy prints at high prices. I didnt compare you to Trump or his views of policies in general, i was saying you chose to discount date of purchase which i feel is relevant to whether or not owning a banksy is a display of wealth.
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therivler1
New Member
Posts โข 979
Likes โข 474
July 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by therivler1 on Sept 19, 2020 14:10:15 GMT 1, if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive.
if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive.
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Number48
New Member
Posts โข 167
Likes โข 206
July 2015
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Number48 on Sept 19, 2020 14:13:51 GMT 1, if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive.
Iโve always love the term โopportunity costโ and itโs definition โthe next most desired alternative forgoneโ
if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. Iโve always love the term โopportunity costโ and itโs definition โthe next most desired alternative forgoneโ
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nex
Junior Member
Posts โข 2,573
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February 2009
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by nex on Sept 19, 2020 14:17:42 GMT 1, if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. that's incorrect, opportunity cost simply means what you've forgone by your decision. It doesn't imply you're buying that possession every day. You bought it once, the opportunity cost simply is what you could buy if you sold it 'one day'.
if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. that's incorrect, opportunity cost simply means what you've forgone by your decision. It doesn't imply you're buying that possession every day. You bought it once, the opportunity cost simply is what you could buy if you sold it 'one day'.
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Lazarus II
Junior Member
Posts โข 1,803
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August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 14:21:29 GMT 1, if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. ive no real idea what that means but thats no surprise given im an arrogant twit.
All i was getting at is if a bloke bought a banksy for ยฃ50 years ago, still hangs it, he doesnt have a heap of money in the bank nor is he broke but would still rather have the print than selling it, isnt really a display of wealth to me.
if something cost you ยฃ50 and you hang it on your wall its hardlty a display of weallth It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. ive no real idea what that means but thats no surprise given im an arrogant twit. All i was getting at is if a bloke bought a banksy for ยฃ50 years ago, still hangs it, he doesnt have a heap of money in the bank nor is he broke but would still rather have the print than selling it, isnt really a display of wealth to me.
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therivler1
New Member
Posts โข 979
Likes โข 474
July 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by therivler1 on Sept 19, 2020 14:25:55 GMT 1, It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. that's incorrect, opportunity cost simply means what you've forgone by your decision. It doesn't imply you're buying that possession every day. You bought it once, the opportunity cost simply is what you could buy if you sold it 'one day'. You say it doesn't, but that is the definition of what it is. Obviously no cash is changing hands, but not doing the alternative is a choice made every day. And not selling every day is implicitly buying. No matter if you paid 50 or 50k. It's a choice against the alternative.
en.wikipedia.org/wiki/Opportunity_cost
It's an opportunity cost. Every day you don't sell it, you are implicitly buying it for the price you could receive. that's incorrect, opportunity cost simply means what you've forgone by your decision. It doesn't imply you're buying that possession every day. You bought it once, the opportunity cost simply is what you could buy if you sold it 'one day'. You say it doesn't, but that is the definition of what it is. Obviously no cash is changing hands, but not doing the alternative is a choice made every day. And not selling every day is implicitly buying. No matter if you paid 50 or 50k. It's a choice against the alternative. en.wikipedia.org/wiki/Opportunity_cost
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Lazarus II
Junior Member
Posts โข 1,803
Likes โข 2,429
August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 19, 2020 14:31:11 GMT 1, ive no real idea what that means but thats no surprise given im an arrogant twit. All i was getting at is if a bloke bought a banksy for ยฃ50 years ago, still hangs it, he doesnt have a heap of money in the bank nor is he broke but would still rather have the print than selling it, isnt really a display of wealth to me. If a guy gets a million dollar house when his parents die, is it also not a display of wealth since he didn't pay for it? i dunno, he could be $2m in debt.
ive no real idea what that means but thats no surprise given im an arrogant twit. All i was getting at is if a bloke bought a banksy for ยฃ50 years ago, still hangs it, he doesnt have a heap of money in the bank nor is he broke but would still rather have the print than selling it, isnt really a display of wealth to me. If a guy gets a million dollar house when his parents die, is it also not a display of wealth since he didn't pay for it? i dunno, he could be $2m in debt.
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Charlie Bronson
Junior Member
Posts โข 1,443
Likes โข 3,171
February 2014
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Charlie Bronson on Sept 19, 2020 14:35:02 GMT 1, You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth
So true. Any younger collector with deep pockets, be it a stock/commodities trader, Silicon Valley exec etc, is all about Banksy. The number of young multi-millionaires in their 30โs/40โs has skyrocketed and theyโre well aware of B, and foaming at the mouth to show off to their friends when they come by for a visit. Why spend $60 million for a Monet or Picasso when they can achieve the same desired level of โIโm so coolโ by spending a few million on a B original? Shallow, but imho a factor in what weโre seeing unfold.
You say they arenโt stupid, I beg to differ. People spending ยฃ200k on an unsigned, or ยฃ500k on a signed, Banksy edition are dumb. They are buying it as an investment. I truly believe it is a poor one, long term. I know the whole โpeople said this 1/2/4/10 yearsโ ago shtick. But these prices are essentially unheard of in the art world for unsigned editions of a living artist. A new era , that no artist before has taken advantage of the new technologies of social media , influencers , constant news outlets used for public relations which has had a big impact On the market Only serious collectors had access to closed group galleries and artists before the internet and knowledge of auctions were only known if you were in the circle of Influencers and high spenders now all this information And chance to participate In the market is accessible to everyone via the internet Which draws a significantly bigger market and input of money . There is a Younger generation in age of collectors that resonates with banksy Ask a group of city traders who they would invest in the art market . A lot more to come to the market over the years Just modern times and tastes and like it or not banksy is a display of wealth So true. Any younger collector with deep pockets, be it a stock/commodities trader, Silicon Valley exec etc, is all about Banksy. The number of young multi-millionaires in their 30โs/40โs has skyrocketed and theyโre well aware of B, and foaming at the mouth to show off to their friends when they come by for a visit. Why spend $60 million for a Monet or Picasso when they can achieve the same desired level of โIโm so coolโ by spending a few million on a B original? Shallow, but imho a factor in what weโre seeing unfold.
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duffer31
New Member
Posts โข 382
Likes โข 359
November 2016
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by duffer31 on Sept 19, 2020 17:25:25 GMT 1, ive no real idea what that means but thats no surprise given im an arrogant twit. All i was getting at is if a bloke bought a banksy for ยฃ50 years ago, still hangs it, he doesnt have a heap of money in the bank nor is he broke but would still rather have the print than selling it, isnt really a display of wealth to me. If a guy gets a million dollar house when his parents die, is it also not a display of wealth since he didn't pay for it?
You still have to pay inheritance tax on it. Nothing in life is free.
ive no real idea what that means but thats no surprise given im an arrogant twit. All i was getting at is if a bloke bought a banksy for ยฃ50 years ago, still hangs it, he doesnt have a heap of money in the bank nor is he broke but would still rather have the print than selling it, isnt really a display of wealth to me. If a guy gets a million dollar house when his parents die, is it also not a display of wealth since he didn't pay for it? You still have to pay inheritance tax on it. Nothing in life is free.
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thor
New Member
Posts โข 175
Likes โข 100
March 2015
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by thor on Sept 20, 2020 4:07:21 GMT 1, Why is no one on here talking about the Reaper ? Is it just me or are people deliberately avoiding the GR subject because they are just not sure if they like the image or not? Or are members frightened of the responses they might recieve for actually daring to concede that it's a great iconic image ? Which it patently is, and has been underrated on this forum for years, and now I think its popularity and value will only grow as demonstrated by this result at Sothebys. Anyway peeps all input on Reaper greatly recieved ( if you dare) !!!
Why is no one on here talking about the Reaper ? Is it just me or are people deliberately avoiding the GR subject because they are just not sure if they like the image or not? Or are members frightened of the responses they might recieve for actually daring to concede that it's a great iconic image ? Which it patently is, and has been underrated on this forum for years, and now I think its popularity and value will only grow as demonstrated by this result at Sothebys. Anyway peeps all input on Reaper greatly recieved ( if you dare) !!!
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tab1
Full Member
Posts โข 8,519
Likes โข 3,679
September 2011
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by tab1 on Sept 20, 2020 4:35:37 GMT 1, Wait until laz collection hits the auctions.
With bbay approaching all the prints held back , aps etc and the rest of gdp releases will be one big payday at market rates
Wait until laz collection hits the auctions.
With bbay approaching all the prints held back , aps etc and the rest of gdp releases will be one big payday at market rates
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saint
Junior Member
Posts โข 4,887
Likes โข 1,881
September 2010
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by saint on Sept 20, 2020 6:35:10 GMT 1, Why is no one on here talking about the Reaper ? Is it just me or are people deliberately avoiding the GR subject because they are just not sure if they like the image or not? Or are members frightened of the responses they might recieve for actually daring to concede that it's a great iconic image ? Which it patently is, and has been underrated on this forum for years, and now I think its popularity and value will only grow as demonstrated by this result at Sothebys. Anyway peeps all input on Reaper greatly recieved ( if you dare) !!!
Donโt like it, itโs not one I would want in my house if I had the choice of all prints. But then there are a few I could say that about, I donโt like the placard rats, I donโt like VLH, and I donโt like GS. Just because itโs now expensive doesnโt mean I like it anymore than I used to.
Why is no one on here talking about the Reaper ? Is it just me or are people deliberately avoiding the GR subject because they are just not sure if they like the image or not? Or are members frightened of the responses they might recieve for actually daring to concede that it's a great iconic image ? Which it patently is, and has been underrated on this forum for years, and now I think its popularity and value will only grow as demonstrated by this result at Sothebys. Anyway peeps all input on Reaper greatly recieved ( if you dare) !!! Donโt like it, itโs not one I would want in my house if I had the choice of all prints. But then there are a few I could say that about, I donโt like the placard rats, I donโt like VLH, and I donโt like GS. Just because itโs now expensive doesnโt mean I like it anymore than I used to.
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Graham H
Junior Member
Posts โข 2,302
Likes โข 2,416
November 2012
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Graham H on Sept 20, 2020 8:34:26 GMT 1, Didnโt think I he had much left after he sold most of it at Sothebys a few years back
Wait until laz collection hits the auctions. With bbay approaching all the prints held back , aps etc and the rest of gdp releases will be one big payday at market rates
Didnโt think I he had much left after he sold most of it at Sothebys a few years back Wait until laz collection hits the auctions. With bbay approaching all the prints held back , aps etc and the rest of gdp releases will be one big payday at market rates
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Balboa
New Member
Posts โข 975
Likes โข 1,407
November 2007
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Balboa on Sept 20, 2020 8:54:22 GMT 1, Why is no one on here talking about the Reaper ? Is it just me or are people deliberately avoiding the GR subject because they are just not sure if they like the image or not? Or are members frightened of the responses they might recieve for actually daring to concede that it's a great iconic image ? Which it patently is, and has been underrated on this forum for years, and now I think its popularity and value will only grow as demonstrated by this result at Sothebys. Anyway peeps all input on Reaper greatly recieved ( if you dare) !!! I hate Grin Reaper - but only because I sold one years ago for ยฃ1,800 and it's now worth almost 50 times that.ย
I have nothing against the image though and the print quality is amazing!
Why is no one on here talking about the Reaper ? Is it just me or are people deliberately avoiding the GR subject because they are just not sure if they like the image or not? Or are members frightened of the responses they might recieve for actually daring to concede that it's a great iconic image ? Which it patently is, and has been underrated on this forum for years, and now I think its popularity and value will only grow as demonstrated by this result at Sothebys. Anyway peeps all input on Reaper greatly recieved ( if you dare) !!! I hate Grin Reaper - but only because I sold one years ago for ยฃ1,800 and it's now worth almost 50 times that.ย I have nothing against the image though and the print quality is amazing!
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18921892
New Member
Posts โข 639
Likes โข 362
May 2020
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by 18921892 on Sept 20, 2020 9:05:42 GMT 1, Didnโt think I he had much left after he sold most of it at Sothebys a few years back Wait until laz collection hits the auctions. With bbay approaching all the prints held back , aps etc and the rest of gdp releases will be one big payday at market rates I also heard he doesn't have much left , just a piece or two but he sold almost all a few years ago at the selling exhibition. Those pieces at Sothebys seemed expensive at the time. The Sothebys catalogue for that show is great, I suggest people check them out.
Didnโt think I he had much left after he sold most of it at Sothebys a few years back Wait until laz collection hits the auctions. With bbay approaching all the prints held back , aps etc and the rest of gdp releases will be one big payday at market rates I also heard he doesn't have much left , just a piece or two but he sold almost all a few years ago at the selling exhibition. Those pieces at Sothebys seemed expensive at the time. The Sothebys catalogue for that show is great, I suggest people check them out.
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Woodey1001
New Member
Posts โข 662
Likes โข 265
September 2014
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Woodey1001 on Sept 20, 2020 9:05:44 GMT 1, Forget GR.. Nola is fucking creepy. Wouldn't want that hung over my bed! ๐ณ
Forget GR.. Nola is fucking creepy. Wouldn't want that hung over my bed! ๐ณ
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