Urban Art Association

These have been selling for 26/27 - don't let someone on here try and talk the price down so they can sell it on.

If you can, keep it... I have a feeling these prices are just warming up..

Would love to know where they sold at 27?

I know of at least two recent sales over 22k

Are there any others currently for sale? if not charge what you want. There's way more buyers than sellers out there.

Talk all they want. If there's nothing else for sale then the current market spread is about 5k. 22 bid 27 offered.

Bump

This is 25k all day long.

I will said £28k

Perfectly agree that the seller can do whatever the fck he wants with his print.

But in general, can someone explain to me the logic here :
- In the Banksy market, there is more demand than offer.
- This print is well priced in the market
- This well priced Banksy print is not selling in the market where there is more demand than offer

Something doesn't seem rational here, one of these three statement has got to be wrong...

I wish I was as smart as you...

Me too... it must feel great

I think that's a reasonable thought. I've said before that I think galleries and auction houses are providing a service and some prestige over private sales. Established galleries and auction houses provide some veracity to the artwork and its authenticity, in my mind. I think if you're going to quote gallery prices, you probably should knock off somewhere from 15-25%. I think if you're going to quote auction sales, the private sale price is somewhere around the hammer price, maybe a bit higher.

Just my opinion, of course.

I also think a seller of a piece in this price range who is trying to maximize profit is probably better off trying to work out a deal with an established auction house for a low or 0% commission. It's nice to be able to sell to people within the forum, but I think you have to realize that you're not going to make as much. For instance, coming here to sell a rare Banksy Nola and expecting someone on here to give you 90K GBP via PayPal friends and family or a wire transfer seems a bit ludicrous.

Totally agree. I think your price is too low if it sells in 15 minutes, especially if you're talking high-end stuff.

Basic supply and demand but the problem is here you don't know the volume of bidders or the volume of offers to help with decisions. If we do know the last traded price is £25k. If someone is £23k bid and the only offer is £27k someone has to move or something has to affect the market or persons to affect that change. We know there are only 199 in the world and a fraction of these will potentially be offered for sale. Added to that of those 199 a lot will be owned by collectors who won't sell at any price. some may of been damaged or lost, badly framed, sun damaged etc so potentially even less in existence.
Prices are rising better than most investments (not all) and unlike shares you will always have a picture you like if the market falls.
What can make the market fall?
The economy, but there will still be people with money for art.
Banksy releases more colour ways of the print or starts producing prints weekly? doubt it will ever happen.
WW3 started by those 2 plonkers. Will still look nice on a bunker wall.

The offer price is £27k if you want it pay it. You can't shop around if there isn't an alternative. If you have one to sell offer for £26k or wait to see if someone buys the one for £27k then offer yours for £28k.
Sellers market imho

Bit like footballers but there's more on offer unless you want a particular one.