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LITA Canvas Phillips NY 24th June, by Georgie Poppit on Jun 24, 2021 11:39:33 GMT 1, Don’t think it’s been mentioned but anyone know why the LITA canvas hammered at $950k - seems very low
Don’t think it’s been mentioned but anyone know why the LITA canvas hammered at $950k - seems very low
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Spenie
Junior Member
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November 2014
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LITA Canvas Phillips NY 24th June, by Spenie on Jun 24, 2021 11:59:45 GMT 1, Don’t think it’s been mentioned but anyone know why the LITA canvas hammered at $950k - seems very low
Don’t think it’s been mentioned but anyone know why the LITA canvas hammered at $950k - seems very low That's probably why it's not been mentioned. |
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18921892
New Member
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May 2020
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LITA Canvas Phillips NY 24th June, by 18921892 on Jun 24, 2021 12:07:48 GMT 1, Come on now, all in it cost the buyer over $1.2million, that's a lot of money for an edition canvas. The seller purchased it in 2009 for £46k. Pretty amazing result. What are you expecting it to sell for $5million?
I bet the seller was happy with that. Plus just another original off the market, and now in more stable hands.
Every time an original or long term owner sells a Banksy, the piece will usually be entering a new collection and the price is stabilized as the owner will be holding the piece. It's one less piece on the market and supply is less. So it's positive for the market, don't expect any bargains.
Come on now, all in it cost the buyer over $1.2million, that's a lot of money for an edition canvas. The seller purchased it in 2009 for £46k. Pretty amazing result. What are you expecting it to sell for $5million?
I bet the seller was happy with that. Plus just another original off the market, and now in more stable hands.
Every time an original or long term owner sells a Banksy, the piece will usually be entering a new collection and the price is stabilized as the owner will be holding the piece. It's one less piece on the market and supply is less. So it's positive for the market, don't expect any bargains.
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LITA Canvas Phillips NY 24th June, by Georgie Poppit on Jun 24, 2021 12:12:40 GMT 1, Estimate was $1-2m so I doubt they’re that happy - it must have condition issues at that price
Estimate was $1-2m so I doubt they’re that happy - it must have condition issues at that price
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18921892
New Member
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LITA Canvas Phillips NY 24th June, by 18921892 on Jun 24, 2021 12:19:53 GMT 1, You can put any number you want as an estimate, market will speak ultimately. Seller made 900k on an edition canvas, not even a unique canvas, most reasonable people would be happy with that return in 12 years. But you can't please everyone if their not.
You can put any number you want as an estimate, market will speak ultimately. Seller made 900k on an edition canvas, not even a unique canvas, most reasonable people would be happy with that return in 12 years. But you can't please everyone if their not.
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