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Because I’m Worthless, 2004

BY

Because I’m Worthless, 2004
Edition: 75 signed, 175 unsigned
Because I’m Worthless is part of a series of three prints known as the Placard Rats. The inspiration behind the series comes from a book written by George Marshall entitled “Get Out While You Can, Escape the Rat Race”, explaining how to find a way out of “salary slavery”.
Because I’m Worthless portrays a rat standing up on two feet, like a human, and holding up a placard reading “Because I’m Worthless” in bright red or pink writing.
The rat, wearing a necklace bearing a peace sign, is seemingly engaged in a form of social protest as well as a warning of a danger still to come. The violence of the message is contrasted by the peace sign around the rat’s neck in a complex double meaning, characteristic of Banksy’s work. The sign, in bright red splattered paint inevitably reminds the viewer of blood. Because I’m Worthless is also clear reference to L’Oreal tagline “Because I’m Worth it”.

All Placard Rats were issued by Pictures on Walls at GBP 74.99 for an unsigned print, and GBP 150 for a signed print.

Rats are one of Banksy’s greatest sources of inspiration and one of the most prolific subjects in his work. An anagram of “ART”, the rat is an allegorical tool used by Banksy to reveal the vices and flaws of the human race.
The symbol of the rat is also closely associated with Banksy himself. Hunted down by the authorities, rats, like graffiti artists, tend to appear by night under the cover of darkness, and considered by much of society to be a pest (at least up to a few years ago…). By giving the figure of the rat a voice Banksy is speaking for those oppressed and defeated by the endless competition and consumerism of late capitalism.

Pest Modernism

Banksy, Cut It Out, December 2004

Banksy’s appreciation for rats is often attributed to French stencil artist Blek le Rat, who is widely considered to be the father of stencil graffiti and is famous for introducing urban art to France in the 80’s, some 20 years before Banksy.

 

DESCRIPTION


Because I’m Worthless

Year: 2004
Medium: Screen-print in colors on wove paper
Size: 50×35 cm (19 1/2 x 13 1/2 inches)
Publisher: Pictures on Walls
 

Editions

Signed Edition: 75
Unsigned Edition: 175
Some in red, some in pink (exact counts not specified)

 

AUCTION RESULTS

1. BIMW (unsigned)

Because I’m Worthless (unsigned) last sold at auction on 5 March 2021, at Forum Auctions for GBP 60,300 (USD 83,817). It sold once in 2021. It sold 4 times in 2020, at an average price of GBP 34,317 (USD 45,541). It sold at Tate Ward Auctions on 24 November 2020 for GBP 50,000 (USD 66,000).

Forum Auctions: 5 March 2021
Estimated: GBP 40,000 – 60,000
GBP 45,000 (Hammer)
GBP 60,300 / USD 83,817
AUCTION RECORD FOR BECAUSE I’M WORTHLESS (UNSIGNED)

BANKSY (b.1974)
Because I’m Worthless (Pink) (unsigned), 2004
Screenprint in colors on wove paper
Numbered from the edition of 175 in pencil, with the publisher’s blindstamp

Phillips Hong-Kong: 4 December 2020
Estimated: HKD 100,000 – 150,000
HKD 504,000 / USD 65,025

BANKSY
Because I’m Worthless (unsigned), 2004
Screenprint in colours on wove paper
Numbered ‘139/175’ with publisher’s blindstamp lower left

 

2. BIMW (signed)

Because I’m Worthless (signed) did not sell at auction in 2024.

Because I’m Worthless (signed) sold twice at auction in 2023, at Tate Ward Auctions on 29 March 2023 for GBP 46,000 (USD 56,629), and at Christie’s online on 14 March 2023 for GBP 56,700 (USD 69,441).

Because I’m Worthless (signed) did not sell at auction in 2022.

Because I’m Worthless (signed) sold twice in 2021, at Artnet Auctions on 14 October 2021 for USD 144,000, its all-time high auction record, and at Bonhams London, on 25 February 2021 for GBP 94,000 (USD 132,990).

2023 Auction Results

Because I’m Worthless (signed) sold twice at auction in 2023, at Tate Ward Auctions on 29 March 2023 for GBP 46,000 (USD 56,629), and at Christie’s online on 14 March 2023 for GBP 56,700 (USD 69,441).

Tate Ward Auctions: 29 March 2023
Estimated: GBP 40,000 – 60,000
GBP 46,000 / USD 56,629

BANKSY
Because I’m Worthless (signed), 2004
Screenprint in colors on wove paper
Signed and dated in pencil, lower right
Numbered 15/75 in pencil with the publisher’s blindstamp, lower right

Christie’s Online: 14 March 2023
Estimated: GBP 50,000 – 70,000
GBP 56,700 / USD 69,441

BANKSY
Because I’m Worthless, 2004-2005
Screen-print in black and red on wove paper
Signed and dated 05, lower left
Numbered 53/75 in pencil with the publisher’s blindstamp, lower right

2021 Auction Results

Because I’m Worthless (signed) sold twice in 2021, at Artnet Auctions on 14 October 2021 for USD 144,000, its world auction record, and at Bonhams London, on 25 February 2021 for GBP 94,000 (USD 132,990).

Artnet Auctions: 14 October 2021
Estimated: USD 60,000 – 80,000
USD 144,000
WORLD AUCTION RECORD FOR BECAUSE I’M WORTHLESS SIGNED

BANKSY
Because I’m Worthless (signed), 2004
Screenprint in colors on wove paper
Signed, dated and numbered 57/75 in pencil

Bonhams London: 25 February 2021
Estimated: GBP 40,000 – 60,000
GBP 94,000 / USD 132,990

BANKSY (British, born 1975)
Because I’m Worthless (signed), 2004
Screenprint in colors on wove paper
Signed, dated and numbered ’17/75′ in pencil, with the publisher’s blindstamp

2020 Auction Results

Sotheby’s online: 18 September 2020
Estimated: GBP 20,000 – 30,000
GBP 94,500 / USD 122,850
BANKSY
Because I’m Worthless (signed), 2004
Screenprint in colors on wove paper
Signed and dated in pencil, lower left
Numbered 56/75 in pencil with the publisher’s blindstamp, lower right

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