spanksy
Junior Member
Posts • 1,002
Likes • 114
December 2007
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Banksy Popularity or Credit Crunch, by spanksy on Nov 5, 2008 13:52:30 GMT 1, Has the buzz around Banksy and the Urban street art market finnally started to decrease or has the dramatic dash in prices been as a result of the credit crunch alone?
My personal opinion is a mix of the two. The financail crisis has tightened up peoples luxury expenditiure and the low end art market (i.e. not the oligarth prices ;-)) has inevitably taken a hit however i dont think the decrease is entirley down too the credit crunch.
Banksy himself has gone quite without a major release for a while?
Was the main popularity due to the ability to 'flip' a banksy realease and the profit, more than the art piece itself?
Has Banksys popularity faded? did he cement himself in artistic history before this decrease in consumer spending and interest in the art market, therefore allowing his art to return to the prices they were prior the cruch? or will they stabilise at this price?
Opinions Please?
Has the buzz around Banksy and the Urban street art market finnally started to decrease or has the dramatic dash in prices been as a result of the credit crunch alone?
My personal opinion is a mix of the two. The financail crisis has tightened up peoples luxury expenditiure and the low end art market (i.e. not the oligarth prices ;-)) has inevitably taken a hit however i dont think the decrease is entirley down too the credit crunch.
Banksy himself has gone quite without a major release for a while?
Was the main popularity due to the ability to 'flip' a banksy realease and the profit, more than the art piece itself?
Has Banksys popularity faded? did he cement himself in artistic history before this decrease in consumer spending and interest in the art market, therefore allowing his art to return to the prices they were prior the cruch? or will they stabilise at this price?
Opinions Please?
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Banksy Popularity or Credit Crunch, by Daniel Silk on Nov 5, 2008 14:03:23 GMT 1, The current money problems around the world must be having a certain amount of impact, but from my position I have been watching a big increase of Americans on this forum after finding out about Banksy from to his work in LA, New Orleans & New York.
God knows how many more people around the world are only just finding out about Banksy and his work, so I think we are still in the very early days ;D
The current money problems around the world must be having a certain amount of impact, but from my position I have been watching a big increase of Americans on this forum after finding out about Banksy from to his work in LA, New Orleans & New York.
God knows how many more people around the world are only just finding out about Banksy and his work, so I think we are still in the very early days ;D
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spanksy
Junior Member
Posts • 1,002
Likes • 114
December 2007
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Banksy Popularity or Credit Crunch, by spanksy on Nov 5, 2008 14:09:04 GMT 1, good point silky! Lets hope that he carries on growing and we see some new stuff from him!
good point silky! Lets hope that he carries on growing and we see some new stuff from him!
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horizonmike
New Member
Posts • 80
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October 2008
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Banksy Popularity or Credit Crunch, by horizonmike on Nov 5, 2008 14:26:28 GMT 1, Recession has to have an impact. Theres a lot of job uncertainty going around so the idea of buying a Banksy may have been put on the backburner. Perhaps the housing market declining has more people interested in saving for that house they havent been able to afford in the last few years rather then buying a print. The lack of media attention may have also resulted in less "one off" buyers looking into his works, smaller bonuses etc.....just my opinions.
Recession has to have an impact. Theres a lot of job uncertainty going around so the idea of buying a Banksy may have been put on the backburner. Perhaps the housing market declining has more people interested in saving for that house they havent been able to afford in the last few years rather then buying a print. The lack of media attention may have also resulted in less "one off" buyers looking into his works, smaller bonuses etc.....just my opinions.
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G-Man
Junior Member
Posts • 3,529
Likes • 33
November 2007
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Banksy Popularity or Credit Crunch, by G-Man on Nov 5, 2008 14:47:03 GMT 1, I agree with Silky on this one in that the scene is in its early days at the moment.
Banksy has now such appeal across a number of art audiences that I think that we will see lots more over the next few years.
The recession is hitting all markets art included, the recent releases that haven't made ppl much if any money hopefully will cool off many of the ppl just in the scene for the money leaving the good stuff to get into the hand of those of us that want it on our walls?
As has been said before on here there are a few artists that will stand the test of time and some that will disappear without trace in a few years.
I agree with Silky on this one in that the scene is in its early days at the moment.
Banksy has now such appeal across a number of art audiences that I think that we will see lots more over the next few years.
The recession is hitting all markets art included, the recent releases that haven't made ppl much if any money hopefully will cool off many of the ppl just in the scene for the money leaving the good stuff to get into the hand of those of us that want it on our walls?
As has been said before on here there are a few artists that will stand the test of time and some that will disappear without trace in a few years.
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spanksy
Junior Member
Posts • 1,002
Likes • 114
December 2007
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Banksy Popularity or Credit Crunch, by spanksy on Nov 5, 2008 14:57:43 GMT 1, i dont think we will ever see the people who are just after the money leave the scene as people buy art as an 'invesment' so most people are looking for a return someday. :-)
so we think no is just a good time to buy rather than an indication to the future of prices?
i dont think we will ever see the people who are just after the money leave the scene as people buy art as an 'invesment' so most people are looking for a return someday. :-)
so we think no is just a good time to buy rather than an indication to the future of prices?
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Banksy Popularity or Credit Crunch, by bobbymeachamjr on Nov 5, 2008 16:14:07 GMT 1, Price appreciation way too fast too soon + global credit/economic woes = lethal combination. We're seeing major haircuts across the board. Oh and appropriately so, seems like Morons is the only piece thats holding strong!
Price appreciation way too fast too soon + global credit/economic woes = lethal combination. We're seeing major haircuts across the board. Oh and appropriately so, seems like Morons is the only piece thats holding strong!
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pezlow
Junior Member
Posts • 5,388
Likes • 254
January 2007
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Banksy Popularity or Credit Crunch, by pezlow on Nov 5, 2008 16:38:56 GMT 1, Banksy is still massively popular but the only reason you saw his prints sell out so quickly for the last few releases is because they were priced below their market value.
If you have the cash you can buy any number of prints by Damien Hirst on the primary market, it doesn't bother him in the slightest that his prints don't sell out immediately.
I think going forward you are unlikely to see the massive hikes in price of banksy prints. You may seem some falls but more than likely you will see some stability returning to his market.
He will definitely remain the most important artist of our generation, and his place in the history books is secured. I hope he continues to make art which makes us laugh, makes us think and inspires us for years to come. He will remain popular and will always be popular and this has nothing to do with how much a grin reaper is worth on the bay 
Banksy is still massively popular but the only reason you saw his prints sell out so quickly for the last few releases is because they were priced below their market value. If you have the cash you can buy any number of prints by Damien Hirst on the primary market, it doesn't bother him in the slightest that his prints don't sell out immediately. I think going forward you are unlikely to see the massive hikes in price of banksy prints. You may seem some falls but more than likely you will see some stability returning to his market. He will definitely remain the most important artist of our generation, and his place in the history books is secured. I hope he continues to make art which makes us laugh, makes us think and inspires us for years to come. He will remain popular and will always be popular and this has nothing to do with how much a grin reaper is worth on the bay |
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Banksy Popularity or Credit Crunch, by ejvaze on Nov 5, 2008 16:57:45 GMT 1, Well said Pez
Well said Pez
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Deleted
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January 1970
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Banksy Popularity or Credit Crunch, by Deleted on Nov 5, 2008 16:59:50 GMT 1, cream always rises to the top, Banksy along with a select few others will be around long after this scene has fully merged into art world 'proper'....
cream always rises to the top, Banksy along with a select few others will be around long after this scene has fully merged into art world 'proper'....
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Banksy Popularity or Credit Crunch, by jonpud on Nov 5, 2008 17:36:57 GMT 1, Hmmmm, Banksy not popular anymore!? I'll have a months wages with you that his next print release sells out as quickly as in the past.
Price fall and low sales totally and utterly due to the 'Credit Crunch'
People have the money but don't want to spend it! Great time to buy, bad time to sell, ask again in two years, i think you will get your answer!
Hmmmm, Banksy not popular anymore!? I'll have a months wages with you that his next print release sells out as quickly as in the past.
Price fall and low sales totally and utterly due to the 'Credit Crunch'
People have the money but don't want to spend it! Great time to buy, bad time to sell, ask again in two years, i think you will get your answer!
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Heavyconsumer
Junior Member
Posts • 4,974
Likes • 5
February 2008
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Banksy Popularity or Credit Crunch, by Heavyconsumer on Nov 5, 2008 18:14:44 GMT 1, Good points Pez and Pud, I think it's worth noting though, as Bobby mentioned above, that prices were probably out of whack at their peak, so as Pez says, a little stability won't do any harm in the long run. When we look at all the great artists whose prints are now selling for below cost price, I think it's a little shallow and neglects the big picture to consider this a "price fall" as such, more a natural correction, brought on suddenly by unrelated economic changes! And the impact of the pending recession is clear. I would agree that Banksy, as a young man, has a long, bright future. Any of us lucky enough to have been able to get ANY of his prints at source, should be grateful, as it isn't likely to get any easier to do so imo, unless they start selling them for £2k.
Good points Pez and Pud, I think it's worth noting though, as Bobby mentioned above, that prices were probably out of whack at their peak, so as Pez says, a little stability won't do any harm in the long run. When we look at all the great artists whose prints are now selling for below cost price, I think it's a little shallow and neglects the big picture to consider this a "price fall" as such, more a natural correction, brought on suddenly by unrelated economic changes! And the impact of the pending recession is clear. I would agree that Banksy, as a young man, has a long, bright future. Any of us lucky enough to have been able to get ANY of his prints at source, should be grateful, as it isn't likely to get any easier to do so imo, unless they start selling them for £2k.
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