Qualifying sales by year since 2018. Bars: median price. Line: number of lots sold.
Medians are computed on qualifying sales only — artist's proofs, colourways and other exceptional variants are excluded. A year with no bar had no qualifying sale.
HMV (unsigned) — price dispersion
Every qualifying sale since 2018, one dot per lot.
Where several lots sold at the same price, the dots are spread sideways so none is hidden behind another.
HMV (signed) — median price and lots sold
Qualifying sales by year since 2018. Bars: median price. Line: number of lots sold.
Medians are computed on qualifying sales only — artist's proofs, colourways and other exceptional variants are excluded. A year with no bar had no qualifying sale.
HMV (signed) — price dispersion
Every qualifying sale since 2018, one dot per lot.
Where several lots sold at the same price, the dots are spread sideways so none is hidden behind another.
Key Takeaways
HMV (unsigned)
The auction history of HMV unsigned offers a particularly clear account of the expansion and correction of Banksy’s early print market. With 60 qualifying transactions recorded since 2018, the edition possesses substantial liquidity and a deep body of comparable sales. The image’s appeal rests on a classic Banksy reversal: the obedient dog from the familiar His Master’s Voice logo is no longer listening passively but turning a weapon on the gramophone—and, by extension, on the authority speaking through it.
The market expanded dramatically during 2020 as international online bidding transformed Banksy prints into speculative assets. The auction record was established at Bonhams London in December 2020, when an unsigned impression achieved £62,750. Strong results continued throughout 2021, supported by unusually high transaction volume. This confirms that the expansion was broad, although the record itself belongs firmly to the exceptional conditions of the pandemic-era boom.
The correction began in 2022 and continued through 2023 and 2024 as prices returned to a more disciplined range. Recent figures indicate that the adjustment has not yet entirely concluded. The median declined from £12,208 across four qualifying sales in 2025 to £10,278 across four sales in 2026, representing a further decrease of 16%. Nevertheless, the relatively narrow distribution of recent results suggests that the market is becoming more orderly, even if the direction remains slightly negative.
The most recent sale, at Forum Auctions in July 2026, achieved £11,552—approximately 18% of the historical peak but above the current annual median. Although most of the speculative appreciation has disappeared, liquidity remains strong and current prices remain above the edition’s longer-term pre-boom baseline. HMV has therefore returned to its natural position: an accessible but historically important Banksy print, valued for its early date, graphic economy and characteristically irreverent critique of obedience.
HMV (signed)
The signed edition occupies a much thinner market. Produced in an edition of 150, it combines the historical importance of the image with the scarcity and authentication premium associated with Banksy’s signature. However, only four qualifying transactions have been recorded since 2018, which is insufficient to support reliable annual medians, performance comparisons or formal value-retention statistics.
The available results nevertheless trace the broader market cycle. A signed impression achieved £19,995 at Christie’s New York in 2018, before the market reached its high point at Bonhams London in November 2021, when another example sold for £62,750. The scale of this appreciation reflects the extraordinary demand for signed Banksy editions at the height of the market rather than a stable long-term valuation level.
Subsequent sales demonstrate a progressive correction. A signed impression achieved £48,885 at Bonhams New York in May 2023, followed by £27,720 at Christie’s online in October 2024. No qualifying signed example was recorded in either 2025 or 2026. With such limited activity, these individual results should be read as isolated market observations rather than as a continuous price index.
The signed edition clearly retains a substantial premium over the unsigned version, but its current value is difficult to define with precision. Condition, provenance and auction placement assume particular importance when so few impressions reach the market. HMV signed remains genuinely scarce and desirable, but additional transactions will be required before any convincing conclusion can be drawn about stabilization or recovery.
HMV (unsigned)
2026 Auction Results
Forum AuctionsXXX/600 DN
15 July 2026
UK
Est. GBP 7,000 – 9,000
GBP 8,500 (Hammer)
GBP 11,552
USD 15,640
Tate Ward AuctionsXXX/600
24 June 2026
UK
Est. GBP 8,000 – 12,000
GBP 10,000
USD 13,395
Roseberys London399/600
16 April 2026
UK
Est. GBP 7,000 – 10,000
GBP 9,184
USD 12,430
Forum AuctionsXXX/600
19 March 2026
UK
Est. GBP 8,000 – 12,000
GBP 8,000 (Hammer)
GBP 10,556
USD 14,115
2025 Auction Results
Deutscher & Hackett287/600
26 November 2025
Australia
Est. AUD 20,000 – 30,000
AUD 24,545
GBP 12,000
USD 15,885
Forum AuctionsXXX/600
15 October 2025
UK
Est. GBP 8,000 – 12,000
GBP 8,200 (Hammer)
GBP 10,818
USD 14,495
SBI Art AuctionXXX/600
12 July 2025
Japan
Est. JPY 1,500,000 – 2,500,000
JPY 2,415,000
GBP 12,415
USD 16,385
Lyon & Turnbull323/600
26 March 2025
UK
Est. GBP 10,000 – 15,000
GBP 12,600
USD 16,255
2024 Auction Results
Forum AuctionsXXX/600
4 December 2024
UK
Est. GBP 8,000 – 12,000
GBP 11,000 (Hammer)
GBP 14,740
USD 19,135
Forum AuctionsXXX/600
29 October 2024
UK
Est. GBP 10,000 – 15,000
GBP 10,000 (Hammer)
GBP 13,400
USD 17,395
Christie's online37/600
1 October 2024
UK
Est. GBP 10,000 – 15,000
GBP 15,120
USD 20,110
Tate Ward Auctions285/600
18 September 2024
UK
Est. GBP 12,000 – 18,000
GBP 15,000
USD 19,485
Tate Ward AuctionsXXX/600
19 June 2024
UK
Est. GBP 12,000 – 18,000
GBP 15,000
USD 19,125
New AuctionXXX/600
27 April 2024
Japan
Est. JPY 1,800,000 – 2,800,000
JPY 2,645,000
GBP 13,155
USD 16,700
Christie's online350/600
26 March 2024
UK
Est. GBP 10,000 – 15,000
GBP 17,640
USD 22,370
Bonhams online250/600
20 March 2024
UK
Est. GBP 8,000 – 12,000
GBP 12,160
USD 15,420
2023 Auction Results
Bonhams London427/600
20 September 2023
UK
Est. GBP 12,000 – 18,000
GBP 11,520
USD 14,055
SBI Art AuctionXXX/600
15 July 2023
Japan
Est. JPY 2,000,000 – 3,000,000
JPY 3,680,000
GBP 20,250
USD 26,515
SBI Art AuctionXXX/600
27 May 2023
Japan
Est. JPY 2,500,000 – 3,500,000
JPY 2,875,000
GBP 16,425
USD 20,445
Mainichi AuctionXXX/600
18 May 2023
Japan
Est. JPY 2,000,000 – 3,000,000
JPY 3,220,000
GBP 18,730
USD 23,250
2022 Auction Results
SBI Art AuctionXXX/600
29 October 2022
Japan
Est. JPY 2,000,000 – 3,000,000
JPY 3,910,000
GBP 22,875
USD 26,515
Bonhams London460/600 DN
21 September 2022
UK
Est. GBP 15,000 – 20,000
GBP 19,125
USD 21,670
Forum AuctionsXXX/600
1 September 2022
UK
Est. GBP 12 and up
GBP 15,000 (Hammer)
GBP 20,100
USD 23,185
Sotheby's online192/600
17 August 2022
UK
Est. GBP 12,000 – 18,000
GBP 25,200
USD 30,240
Bonhams London458/600 DN
27 April 2022
UK
Est. GBP 15,000 – 20,000
GBP 21,037
USD 26,505
Sotheby's online98/600
26 April 2022
UK
Est. GBP 15,000 – 20,000
SEK 340,000
GBP 25,200
USD 31,750
Bukowskis58/600
25 April 2022
Sweden
Est. SEK 300,000 – 350,000
SEK 425,000
GBP 34,040
USD 43,355
Leonard Joel248/600
6 April 2022
Australia
Est. AUD 38,000 – 48,000
AUD 47,500
GBP 27,140
USD 35,825
Artnet Auction447/600
9 February 2022
USA
Est. USD 30,000 – 50,000
USD 37,500
GBP 27,370
USD 37,500
Forum AuctionsXXX/600
3 February 2022
UK
Est. GBP 20,000 – 30,000
GBP 22,000 (Hammer)
GBP 29,720
USD 40,425
SBI Art AuctionXXX/600
29 January 2022
Japan
Est. JPY 2,000,000 – 3,000,000
JPY 6,325,000
GBP 40,075
USD 54,900
2021 Auction Results
Forum AuctionsXXX/600 DN
14 December 2021
UK
Est. GBP 20 and up
GBP 24,000 (Hammer)
GBP 32,400
USD 42,855
Bonhams London226/600
9 December 2021
UK
Est. GBP 18,000 – 25,000
GBP 24,000
USD 32,400
Tate Ward AuctionsXXX/600
7 December 2021
UK
Est. GBP 15,000 – 25,000
GBP 25,000
USD 33,500
Phillips NY206/600
21 October 2021
USA
Est. USD 30,000 – 40,000
USD 32,760
GBP 23,700
USD 32,760
Forum AuctionsXXX/600
20 October 2021
UK
Est. GBP 20,000 – 30,000
GBP 21,000 (Hammer)
GBP 28,380
USD 39,225
Bonhams London90/600
22 September 2021
UK
Est. GBP 18,000 – 25,000
GBP 24,000
USD 33,360
Forum AuctionsXXX/600
2 September 2021
UK
Est. GBP 18,000 – 25,000
GBP 20,000 (Hammer)
GBP 27,040
USD 37,385
Forum AuctionsXXX/600 DN
13 July 2021
UK
Est. GBP 20,000 – 30,000
GBP 21,000 (Hammer)
GBP 28,380
USD 39,295
Bonhams London429/600
28 April 2021
UK
Est. GBP 25,000 – 35,000
GBP 25,520
USD 35,145
Forum AuctionsDN XXX/600
23 April 2021
UK
Est. GBP 15,000 – 25,000
GBP 29,000 (Hammer)
GBP 39,100
USD 54,135
Christie's online275/600
1 April 2021
UK
Est. GBP 30,000 – 50,000
GBP 47,500
USD 65,550
Lawsons287/600
30 March 2021
Australia
Est. AUD 60,000 – 80,000
AUD 91,250
GBP 50,300
USD 69,415
Sotheby's online476/600
18 March 2021
UK
Est. GBP 6,000 – 8,000
GBP 52,920
USD 73,560
Forum Auctions14/600
5 March 2021
UK
Est. GBP 35,000 – 45,000
GBP 47,140
USD 65,105
Bonhams London357/600
25 February 2021
UK
Est. GBP 18,000 – 25,000
GBP 47,750
USD 67,415
SBI Art AuctionXXX/600
30 January 2021
Japan
Est. JPY 1,500,000 – 2,500,000
JPY 8,255,000
GBP 58,800
USD 81,400
Forum AuctionsXXX/600
27 January 2021
UK
Est. GBP 25,000 – 35,000
GBP 36,000 (Hammer)
GBP 48,480
USD 66,370
2020 Auction Results
Bonhams London267/600Auction Record
10 December 2020
UK
Est. GBP 8,000 – 12,000
GBP 62,750
USD 84,425
Forum AuctionsXXX/600
27 October 2020
UK
Est. GBP 20,000 – 30,000
GBP 38,000 (Hammer)
GBP 51,160
USD 66,575
Christie's online92/600
23 September 2020
UK
Est. GBP 10,000 – 15,000
GBP 50,000
USD 66,000
Forum AuctionsXXX/600
24 March 2020
UK
Est. GBP 10,000 – 15,000
GBP 12,000 (Hammer)
GBP 16,224
USD 19,115
2019 Auction Results
Heritage Auctions31/600
4 November 2019
USA
Est. USD 5,000 – 7,000
USD 15,000
GBP 11,580
USD 15,000
Forum AuctionsXXX/600
25 September 2019
UK
Est. GBP 6,000 – 8,000
GBP 8,000 (Hammer)
GBP 10,816
USD 13,365
Sotheby's online85/600 DN
19 September 2019
UK
Est. GBP 4,000 – 6,000
GBP 9,375
USD 11,485
Tate Ward AuctionsXXX/600
12 July 2019
UK
Est. GBP 7,500 – 9,500
GBP 9,375
USD 11,810
Chiswick AuctionsXXX/600
11 June 2019
UK
Est. GBP 6,000 – 8,000
GBP 7,680
USD 9,770
Forum AuctionsXXX/600
29 January 2019
UK
Est. GBP 6,000 – 8,000
GBP 6,500 (Hammer)
GBP 8,788
USD 11,495
2018 Auction Results
Artnet Auctions334/660
27 November 2018
USA
Est. USD 9,000 – 11,000
USD 13,200
GBP 10,335
USD 13,200
Forum Auctions24/600
26 September 2018
UK
Est. GBP 5,000 – 7,000
GBP 5,000 (Hammer)
GBP 6,760
USD 8,910
Prior Years Auction Results
New Est-Ouest446/600
27 November 2017
Hong-kong
GBP 5,670
USD 7,555
Bruun Rasmussen105/600
27 September 2017
Denmark
GBP 6,185
USD 8,290
Artnet Auctions230/600
27 January 2016
USA
USD 13,200
GBP 9,265
USD 13,200
Dreweatts238/600
2 December 2015
UK
GBP 4,810
USD 7,185
Tajan497/600
1 October 2015
France
GBP 2,960
USD 4,480
Dreweatts419/600
3 July 2014
UK
GBP 4,340
USD 7,445
Dreweatts84/600
3 December 2009
UK
GBP 1,430
USD 2,375
Christie's London255/600
19 November 2008
UK
GBP 1,875
USD 2,830
Dreweatts528/600
28 November 2007
UK
GBP 1,400
USD 2,895
HMV (signed)
2024 Auction Results
Christie's online55/150 DN
1 October 2024
UK
Est. GBP 10,000 – 15,000
GBP 27,720
USD 36,870
2023 Auction Results
Bonhams NY19/150 DN
9 May 2023
USA
Est. USD 50,000 – 70,000
USD 60,855
GBP 48,885
USD 60,855
2021 Auction Results
Bonhams London59/150
11 November 2021
UK
Est. GBP 40,000 – 60,000
GBP 62,750
USD 84,715
2020 Auction Results
Forum AuctionsAsideAuction Record
27 October 2020
UK
Est. GBP 50,000 – 70,000
Inscribed ‘Chu’ and dedicated with a gift sign in pencil
GBP 62,000 (Hammer)
GBP 80,400
USD 106,130
2018 Auction Results
Christie's NY19/150
28 February 2018
USA
Est. USD 20,000 – 30,000
USD 27,500
GBP 19,995
USD 27,500
Prior Years Auction Results
Forum AuctionsXXX/150
21 March 2017
UK
GBP 24,000 (Hammer)
GBP 32,400
USD 40,440
Christie's London42/150
27 October 2016
UK
GBP 13,750
USD 16,735
Artnet Auctions14/150
26 September 2013
USA
USD 11,760
GBP 7,335
USD 11,760
Dreweatts33/150
21 April 2010
UK
GBP 5,800
USD 8,930
Bonhams London59/150
1 July 2009
UK
GBP 3,840
USD 6,330
Bonhams London19/150
5 February 2008
UK
GBP 13,200
USD 25,910
Prices are inclusive of buyer’s premium unless stated otherwise, as reported by the auction houses. “DN” stands for “Duplicate Number”.
Prices are hammer plus premium, in GBP, not adjusted for inflation. Only standard editions are included: artist’s proofs, special proofs, colorways and other exceptional variants are excluded, and signed and unsigned impressions are never combined. Medians are preferred to averages, which exceptional results distort. Figures are drawn from sales documented by Banksy Explained and are not an exhaustive record of the market. Compiled 3 September 2026.
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