Monday 23rd October 2017,

ART AUCTION

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Two Banksy Works Purchased for $60 Apiece Sell for $215,00

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Two Banksy Works Purchased for $60 Apiece Sell for $215,00

Winnie The Pooh, one of the Banksy works sold for $60 at the Central Park. Sold for £56,250 (US$ 96,432). Image: Bonhams

ART AUCTION

During  Bonhams Post-War & Contemporary Art sale in London, two Banksy works bought for $60 apiece sell for $215,00

LONDON— Two Banksy works purchased for $60 apiece at a Central Park market stall in New York in 2013 have sold for  $215,00 at Bonhams Auction House in London. During the Bonhams Post-War & Contemporary Art sale, Kids on Guns sold for $117, 433 and Winnie the Pooh  for $ 96,432.

Kids on Guns and Winnie the Pooh were acquired during Banksy’s residency in New York. In what is now known to be a stunt, Banksy gave his original black and white stenciled canvases to a Central Park market trader who sold them to passing tourists.

Banksy: New York Residency and Controversy

During his residency in New York, Banksy generated so much controversy with his works. The graffiti artist was very critical of everybody, including himself. With works executed in different part of the city, he ridiculed the police, media and everyone he thought deserved a dose of his venom. Banksy works are created to poke anyone whose beliefs are antithetical to his own.

The sale of the Banksy paintings according to Bonham’s auctioneers “reflects their true value.” With the art sale, Banksy gifted the lucky buyer 1,800% profit on the investment.

Of late, Banksy has been a major point of attention in the United Kingdom where his murals have been removed and sold at auctions for great sums. The removal of the murals in London and his home town of Bristol has created a lot of storms, especially from those who thought the murals should be left alone.

Image- Banksy, ‘Kids on Guns’, one of the works to be auctioned at Bonhams Contemporary Art sale

Banksy, ‘Kids on Guns’. Estimate: £50,000 – 70,000. Image courtesy of Bonhams

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