BANKSY
Laugh Now, 2003
Screenprint in colors on wove paper
Sheet: 70×50 cm (27 1/2 x 19 3/4 inches)
Printer & Publisher: Pictures on Walls, London
Editions: 600 unsigned, 150 signed, 69 signed AP
Numbering and Signature
Numbered in pencil without the pubisher’s blindstamp, lower right
Signed and dated in black ink, lower right
Auction Market Overview
Laugh Now (unsigned)
The market trajectory of Laugh Now unsigned presents one of the clearest examples of speculative expansion and normalization within the Banksy print market. More than many other unsigned editions, Laugh Now benefits from the extraordinary recognizability of its image. The monkey motif became one of Banksy’s most enduring visual signatures, functioning simultaneously as satire, social criticism, and self-portrait of the outsider artist.
Before 2020, the market remained relatively stable. Prices generally fluctuated between approximately $18,000 and $40,000, positioning the work as an important but still accessible Banksy edition. The dramatic acceleration began during the second half of 2020. As global liquidity increased and online auctions expanded aggressively during the pandemic, Banksy prints became highly speculative assets. Laugh Now emerged as one of the strongest beneficiaries of this market frenzy. The December 2020 Phillips Hong Kong result at approximately $113,645 marked the symbolic peak of this euphoric period. Multiple additional sales above $90,000 confirmed that the phenomenon was broad rather than isolated.
The market remained elevated throughout 2021 and most of 2022, with median prices frequently exceeding $70,000. However, the correction progressively accelerated afterward as supply increased and speculative demand faded. From 2023 onward, the market entered a normalization phase. Prices compressed into the $25,000–$50,000 range before stabilizing closer to $20,000–$32,000 in 2024 and 2025.
Importantly, liquidity remains strong. Laugh Now continues to trade regularly through Sotheby’s, Christie’s, Phillips, Bonhams, Forum Auctions, and regional auction houses, indicating continued collector interest despite the correction.
Several important conclusions emerge:
- Laugh Now experienced one of the strongest pandemic-era speculative cycles among major Banksy unsigned editions.
- The monkey image retains exceptional cultural and market recognition.
- The current market appears substantially healthier and more rational than the speculative conditions observed during 2020–2021.
- Even after correction, valuation levels remain structurally above pre-pandemic prices.
- Laugh Now remains one of the cornerstone unsigned Banksy editions and continues to function as a key market barometer for Banksy prints overall.
Laugh Now (signed)
The market for Laugh Now (signed) occupies a very different position from its unsigned counterpart. While both editions benefited from the extraordinary Banksy market expansion during the pandemic years, the signed version established itself as one of the strongest and most desirable signed Banksy editions overall. The image itself plays a central role in this valuation dynamic. Laugh Now is widely considered one of Banksy’s definitive compositions: the monkey carrying the phrase “Laugh now, but one day we’ll be in charge” became one of the artist’s most recognizable and historically important motifs. The work combines humor, political cynicism, anti-authoritarian commentary, and self-referential irony in a single instantly legible image.
Before 2020, the market remained relatively stable. Signed impressions generally traded between approximately $40,000 and $65,000. Already at this stage, Laugh Now (signed) was viewed as a major Banksy edition rather than merely an accessible print. The speculative acceleration that transformed the Banksy market during 2020 and especially 2021 pushed Laugh Now signed into an entirely different valuation category. Prices rapidly moved into six-figure territory, culminating in the extraordinary Bonhams London result from February 2021 at approximately $282,720. This sale remains one of the clearest symbols of the speculative exuberance that defined the Banksy market during the pandemic era. Importantly, however, multiple additional results above $180,000 and even above $200,000 confirm that the work possessed exceptional market momentum at the time.
Compared with the unsigned version, the signed edition demonstrated significantly greater resilience after the market correction began. While prices gradually normalized during 2022, 2023, and 2024, the decline was substantially less severe than for many secondary Banksy editions.
Recent results between approximately $66,000 and $95,000 suggest that Laugh Now (signed) has entered a more stable collector-driven valuation phase. This is particularly significant given the broader correction observed across the Banksy print market.
Several conclusions emerge clearly from the data:
- Laugh Now signed remains one of the most important and culturally recognizable signed Banksy editions.
- The work experienced an extraordinary speculative expansion during 2020–2021, but retained stronger long-term value support than many other Banksy prints.
- Collector confidence appears materially stronger in the signed market than in the unsigned market.
- The image’s iconic status within Banksy’s mythology contributes directly to its resilience.
- Even after correction, prices remain dramatically above pre-pandemic levels, confirming the structural expansion of the Banksy collector base.
The comparison between signed and unsigned editions is especially revealing. While the unsigned market corrected sharply back toward the $20,000–$30,000 range, the signed version continues to maintain values often exceeding $70,000. This demonstrates the growing importance collectors place on rarity, signature authentication, and blue-chip positioning within the Banksy market. Overall, Laugh Now (signed) now appears less like a speculative print and increasingly like a mature trophy edition within the contemporary print market.
Laugh Now (unsigned)
2026 Auction Results
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Forum Auctions: 15 July 2026 London, UK Estimated: GBP 14,000 – 16,000 |
| GBP 14,500 (Hammer) GBP 19,664 / USD 26,620 |
| Laugh Now (unsigned), 2003 Edition: 160/600 |
| Heritage Auctions: 14 July 2026 Dallas, USA Estimated: USD 20,000 |
| USD 32,500 GBP 24,000 / USD 32,500 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| SBI Art Auction: 11 July 2026 Tokyo, Japan Estimated: JPY 1,000,000 – 1,500,000 |
| JPY 4,140,000 GBP 19,260 / USD 26,010 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 24 June 2026 London, UK Estimated: GBP 12,000 – 16,000 |
| GBP 18,750 GBP 18,750 / USD 25,120 |
| Laugh Now (unsigned), 2003 Edition: 372/600 |
| Artnet Auctions: 29 May 2026 New-York, USA Estimated: USD 15,000 – 20,000 |
| USD 18,750 GBP 13,885 / USD 18,750 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Forum Auctions: 19 March 2026 London, UK Estimated: GBP 12,000 – 15,000 |
| GBP 11,500 (Hammer) GBP 15,148 / USD 20,255 |
| Laugh Now (unsigned), 2003 Edition: 160/600 |
| Heritage Auctions: 29 January 2026 Dallas, USA No Estimates Received – No Reserve |
| USD 33,750 GBP 24,435 / USD 33,750 |
2025 Auction Results
| Laugh Now (unsigned), 2003 Edition: 468/600 |
| Deutscher and Hackett: 26 November 2025 Sydney, AUSTRALIA Estimated: AUD 30,000 – 40,000 |
| AUD 36,818 GBP 18,000 / USD 23,830 |
| Laugh Now (unsigned), 2003 Edition: 272/600 |
| Christie’s London: 30 September 2025 London, UK Estimated: GBP 12,000 – 18,000 |
| GBP 15,240 GBP 15,240 / USD 20,485 |
| Laugh Now (unsigned), 2003 Edition: 76/600 |
| Sotheby’s London: 24 September 2025 London, UK Estimated: GBP 15,000 – 20,000 |
| GBP 19,050 GBP 19,050 / USD 25,630 |
2024 Auction Results
| Laugh Now (unsigned), 2003 Edition: Aside (Lazarides Proof) |
| Julien’s Auctions: 31 October 2024 Los Angeles, USA Estimated: USD 30,000 – 50,000 |
| USD 39,000 GBP 30,240 / USD 39,000 |
| Laugh Now (unsigned), 2003 Edition: 554/600 DN |
| Sotheby’s online: 26 September 2024 London, UK Estimated: GBP 15,000 – 25,000 |
| GBP 20,400 GBP 20,400 / USD 27,152 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
|
Forum Auctions: 30 April 2024 |
| GBP 13,000 (Hammer) GBP 17,420 / USD 21,775 |
| Laugh Now (unsigned), 2003 Edition: 493/600 |
| Rosebery’s London: 23 April 2024 London, UK Estimated: GBP 12,000 – 15,000 |
| GBP 26,240 GBP 26,240 / USD 32,800 |
2023 Auction Results
# Lots sold: 8 Lots
# Lots passed: 2 Lots
Average Price: GBP 39,960 (USD 49,585)
Top Price: GBP 75,600 (USD 92,990)
@ Phillips London on 19 January 2023
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| Laugh Now (unsigned), 2003 Edition: 281/600 |
| LA Modern: 12 October 2023 Los Angeles, USA Estimated: USD 30,000 – 40,000 |
| USD 27,720 GBP 22,790 / USD 27,720 |
| Laugh Now (unsigned), 2003 Edition: 406/600 |
| Sotheby’s online: 26 September 2023 London, UK Estimated: GBP 20,000 – 30,000 |
| GBP 31,750 GBP 31,750 / USD 38,620 |
| Laugh Now (unsigned), 2003 Edition: 302/600 DN |
| Roseberys London: 5 September 2023 London, UK Estimated: GBP 25,000 – 35,000 |
| GBP 20,800 GBP 20,800 / USD 26,165 |
| Laugh Now (unsigned), 2003 Edition: 311/600 |
| International Art Center: 25 July 2023 Aukland, NEW ZEALAND Estimated: NZD 80,000 – 100,000 |
| NZD 81,855 GBP 39,500 / USD 50,940 |
| Laugh Now (unsigned), 2003 Edition: 546/600 |
| Sotheby’s online: 20 April 2023 London, UK Estimated: GBP 30,000 – 40,000 |
| GBP 50,800 GBP 50,800 / USD 63,240 |
| Laugh Now (unsigned), 2003 Edition: 258/600 |
| Bonhams London: 19 April 2023 London, UK Estimated: GBP 30,000 – 50,000 |
| GBP 38,100 GBP 38,100 / USD 47,400 |
| Laugh Now (unsigned), 2003 Edition: 457/600 |
| Christie’s online: 14 March 2023 London, UK Estimated: GBP 30,000 – 50,000 |
| GBP 40,320 GBP 40,320 / USD 49,595 |
| Laugh Now (unsigned), 2003 Edition: 325/600 |
| Phillips London: 23 January 2023 London, UK Estimated: GBP 25,000 – 35,000 |
| GBP 75,600 GBP 75,600 / USD 92,990 |
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| Laugh Now (unsigned), 2003 Edition: 325/600 |
| Bonhams Los Angeles: 3 October 2023 Estimated: USD 40,000 – 60,000 PASSED |
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| Laugh Now (unsigned), 2003 Edition: 300/600 DN |
| Bonhams London: 2 June 2023 Estimated: GBP 30,000 – 50,000 PASSED |
2022 Auction Results
# Lots sold: 6 Lots
# Lots passed: 3 Lots
Average Price: GBP 51,815 (USD 65,025)
Top Price: GBP 56,280 (USD 76,540)
@ Forum Auctions on 3 March 2022
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| Laugh Now (unsigned), 2003 Edition: 197/600 |
| New Auction: 26 November 2022 Tokyo, JAPAN Estimated: JPY 4,500,000 – 6,500,000 |
| JPY 9,775,000 GBP 57,640 / USD 70,300 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| SBI Art Auction: 29 October 2022 Tokyo, JAPAN Estimated: JPY 4,000,000 – 7,000,000 |
| JPY 9,545,000 GBP 55,835 / USD 64,725 |
| Laugh Now (unsigned), 2003 Edition: 172/600 |
| Sotheby’s online: 17 August 2022 London, UK Estimated: GBP 24,000 – 35,000 |
| GBP 37,800 GBP 37,800 / USD 45,360 |
| Laugh Now (unsigned), 2003 Edition: 264/600 DN |
|
Sotheby’s online: 26 April 2022
London, UK Estimated: GBP 35,000 – 45,000 |
| GBP 52,920 GBP 52,920 / USD 66,680 |
| Laugh Now (unsigned), 2003 Edition: 99/600 |
| Christie’s online: 15 March 2022 London, UK Estimated: GBP 20,000 – 30,000 |
| GBP 50,400 GBP 50,400 / USD 66,530 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Forum Auctions: 3 March 2022 London, UK Estimated: GBP 35,000 – 50,000 |
| GBP 42,000 (Hammer) GBP 56,280 / USD 76,540 |
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| Laugh Now (unsigned), 2003 Edition: 160/600 |
| Duke’s Auctioneers: 30 September 2022 Estimated: GBP 30,000 – 50,000 PASSED |
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| Laugh Now (unsigned), 2003 Edition: 311/600 |
| Christie’s online: 21 September 2022 Estimated: GBP 40,000 – 60,000 PASSED |
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| Laugh Now (unsigned), 2003 Edition: 300/600 DN |
| Bonhams London: 21 September 2022 Estimated: GBP 30,000 – 50,000 PASSED |
2021 Auction Results
# Lots sold: 7 Lots
Average Price: GBP 58,075 (USD 80,135)
Top Price: GBP 68,750 (USD 95,565)
@ Tate Ward Auctions on 24 March 2021
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| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 17 November 2021 London, UK Estimated: GBP 30,000 – 40,000 |
| GBP 43,750 GBP 43,750 / USD 59,063 |
| Laugh Now (unsigned), 2003 Edition: 341/600 |
| Bonhams London: 11 November 2021 London, UK Estimated: GBP 30,000 – 50,000 |
| GBP 60,250 GBP 60,250 / USD 81,340 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 29 September 2021 London, UK Estimated: GBP 30,000 – 50,000 |
| GBP 48,300 GBP 48,300 / USD 67,135 |
| Laugh Now (unsigned), 2003 Edition: 468/600 |
| Christie’s online: 23 September 2021 London, UK Estimated: GBP 50,000 – 70,000 |
| GBP 56,250 GBP 56,250 / USD 78,190 |
| Laugh Now (unsigned), 2003 Edition: 522/600 |
| Sotheby’s online: 17 September 2021 London, UK Estimated: GBP 35,000 – 45,000 |
| GBP 56,700 GBP 56,700 / USD 78,815 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 DN |
| Forum Auctions: 23 April 2021 London, UK Estimated: GBP 60,000 – 80,000 |
| GBP 51,000 (Hammer) GBP 68,340 / USD 94,995 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 24 March 2021 London, UK Estimated: GBP 50,000 – 70,000 |
| GBP 68,750 GBP 68,750 / USD 95,565 |
2020 Auction Results
# Lots sold: 11 Lots
Average Price: GBP 61,315 (USD 80,440)
Auction Record Price: HKD 882,000 / USD 113,645 / GBP 84,810
@ Phillips Hong-Kong on 4 December 2020
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| Laugh Now (unsigned), 2003 Edition: 93/600 |
| Bonhams London: 10 December 2020 London, UK Estimated: GBP 25,000 – 35,000 |
| GBP 75,250 GBP 75,250 / USD 101,245 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 9 December 2020 London, UK Estimated: GBP 50,000 – 70,000 |
| GBP 72,500 GBP 72,500 / USD 97,545 |
| Laugh Now (unsigned), 2003 Edition: 279/600 |
| Phillips Hong-Kong: 4 December 2020 Hong-Kong Estimated: HKD 120,000 – 180,000 |
| HKD 882,000 GBP 84,810 / USD 113,645 AUCTION RECORD FOR LAUGH NOW (UNSIGNED) |
| Laugh Now (unsigned), 2003 Edition: 463/600 |
| International Art Center: 17 November 2020 Aukland, NEW ZEALAND Estimated: NZD 80,000 – 120,000 |
| NZD 157,650 GBP 81,280 / USD 107,640 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Forum Auctions: 27 October 2020 London, UK Estimated: GBP 25,000 – 35,000 |
| GBP 60,000 (Hammer) GBP 80,640 / USD 105,360 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 14 October 2020 London, UK Estimated: GBP 55,000 – 75,000 |
| GBP 72,500 GBP 72,500 / USD 95,700 |
| Laugh Now (unsigned), 2003 Edition: 540/600 |
| Bonhams London: 8 October 2020 London, UK Estimated: GBP 15,000 – 20,000 |
| GBP 68,812 GBP 68,812 / USD 90,830 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Forum Auctions: 21 July 2020 London, UK Estimated: GBP 15,000 – 20,000 |
| GBP 38,000 (Hammer) GBP 51,160 / USD 65,145 |
| Laugh Now (unsigned), 2003 Edition: 433/600 |
| Sotheby’s online: 26 March 2020 London, UK Estimated: GBP 8,000 – 12,000 |
| GBP 30,000 GBP 30,000 / USD 36,370 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 25 March 2020 London, UK Estimated: GBP 22,000 – 26,000 |
| GBP 27,500 GBP 27,500 / USD 32,285 |
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 25 March 2020 England, UK Estimated: GBP 22,000 – 26,000 |
| GBP 30,000 GBP 30,000 / USD 39,085 |
2019 Auction Results
| Laugh Now (unsigned), 2003 Edition: 459/600 |
| Sotheby’s online: 19 September 2019 England, London Estimated: GBP 8,000 – 12,000 |
| GBP 16,250 GBP 16,250 / USD 20,275 |
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| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Tate Ward Auctions: 10 April 2019 Estimated: GBP 11,000 – 13,000 PASSED |
2018 Auction Results
| Laugh Now (unsigned), 2003 Edition: XXX/600 |
| Forum Auctions: 28 November 2018 England, UK Estimated: GBP 8,000 – 12,000 |
| GBP 11,000 (Hammer) GBP 14,430 / USD 18,415 |
| Laugh Now (unsigned), 2003 Edition: 365/600 |
| Bonhams London: 28 March 2018 London, UK Estimated: GBP 5,000 – 7,000 |
| GBP 13,750 GBP 13,750 / USD 19,400 |
Prior Years Auction Results
Laugh Now (signed)
2025 Auction Results
|
Laugh Now (signed), 2003 |
| Tate Ward: 10 December 2025 London, UK Estimated: GBP 30,000 – 50,000 |
| GBP 47,500 GBP 47,500 / USD 63,510 |
2024 Auction Results
|
Laugh Now (signed), 2003 |
| Tate Ward Auctions: 11 December 2024 London, UK Estimated: GBP 40,000 – 60,000 |
| GBP 51,250 GBP 51,250 / USD 66,625 |
|
Laugh Now (signed), 2003 |
| Christie’s online: 1 October 2024 London, UK Estimated: GBP 40,000 – 60,000 |
| GBP 50,400 GBP 50,400 / USD 67,030 |
|
Laugh Now (signed), 2003 |
| Sotheby’s online: 26 September 2024 London, UK Estimated: GBP 50,000 – 70,000 |
| GBP 60,000 GBP 60,000 / USD 79,860 |
2023 Auction Results
# Lots sold: 3 Lots
Average Price: GBP 71,345 (USD 88,655)
Top Price: GBP 76,200 (USD 94,855)
@ Sotheby’s online on 20 April 2023
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| Laugh Now (signed), 2003 Edition: 45/150 |
| Sotheby’s London: 26 September 2023 England, UK Estimated: GBP 50,000 – 70,000 |
| GBP 76,200 GBP 76,200 / USD 92,690 |
| Laugh Now (signed), 2003 Edition: XXX/150 |
| Forum Auctions: 30 August 2023 England, UK Estimated: GBP 50,000 – 70,000 |
| GBP 46,000 (Hammer) GBP 61,640 / USD 78,420 |
| Laugh Now (signed), 2003 Edition: Aside Inscribed with a gift, heart and peace symbol, lower left |
| Sotheby’s online: 20 April 2023 England, UK Estimated: GBP 60,000 – 80,000 |
| GBP 76,200 GBP 76,200 / USD 94,855 |
2022 Auction Results
| Laugh Now (signed), 2003 Edition: XXX/150 |
| SBI Art Auction: 12 March 2022 Tokyo, JAPAN Estimated: JPY 8,000,000 – 14,000,000 |
| JPY 15,525,000 GBP 100,240 / USD 132,320 |
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| Laugh Now (signed), 2003 Edition: XXX/150 |
| Tate Ward Auctions: 5 October 2022 Estimated: GBP 65,000 – 85,000 PASSED |
2021 Auction Results
# Lots sold: 7 Lots
Average Price: GBP 134,455 (USD 187,875)
Auction Record Price: GBP 200,250 / USD 282,720
@ Bonhams London on 25 February 2021
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| Laugh Now (signed), 2003 Edition: 122/150 |
| Christie’s online: 23 September 2021 England, UK Estimated: GBP 80,000 – 120,000 |
| GBP 100,000 GBP 100,000 / USD 139,000 |
| Laugh Now (signed), 2003 Edition: ASIDE Inscribed ‘4 BRENDAN’ and with a peace symbol |
| Sotheby’s online: 17 September 2021 England, UK Estimated: GBP 60,000 – 80,000 |
| GBP 100,800 GBP 100,800 / USD 140,110 |
| Laugh Now (signed), 2003 Edition: 85/150 |
| Bonhams online: 29 June 2021 England, UK Estimated: GBP 70,000 – 100,000 |
| GBP 100,250 GBP 100,250 / USD 138,660 |
| Laugh Now (signed), 2003 Edition: 56/150 |
| Phillips London: 14 June 2021 England, UK Estimated: GBP 70,000 – 90,000 |
| GBP 151,200 GBP 151,200 / USD 214,705 |
| Laugh Now (signed), 2003 Edition: 142/150 |
| Christie’s online: 1 April 2021 England, UK Estimated: GBP 120,000 – 180,000 |
| GBP 137,500 GBP 137,500 / USD 189,750 |
| Laugh Now (signed), 2003 Edition: 76/150 |
| Sotheby’s online: 18 March 2021 England, UK Estimated: GBP 30,000 – 50,000 |
| GBP 151,200 GBP 151,200 / USD 214,705 |
| Laugh Now (signed), 2003 Edition: 86/150 |
| Bonhams London: 25 February 2021 England, UK Estimated: GBP 60,000 – 80,000 |
| GBP 1200,250 GBP 200,250 / USD 282,720 AUCTION RECORD FOR LAUGH NOW (SIGNED) |
2019 Auction Results
| Laugh Now (signed), 2003 Edition: 108/150 |
| Sotheby’s online: 19 September 2019 London, UK Estimated: GBP 24,000 – 28,000 |
| GBP 47,500 GBP 47,500 / USD 58,190 |
| Laugh Now (signed), 2003 Edition: XXX/150 |
| Forum Auctions: 29 January 2019 London, UK Estimated: GBP 30,000 – 50,000 |
| GBP 35,000 (Hammer) GBP 47,140 / USD 61,665 |
2018 Auction Results
| Laugh Now (signed), 2003 Edition: 53/150 |
| Christie’s online: 26 September 2018 England, UK Estimated: GBP 15,000 – 25,000 |
| GBP 35,000 GBP 35,000 / USD 45,800 |
| Laugh Now (signed), 2003 Edition: 20/150 |
| Phillips London: 7 June 2018 London, UK Estimated: GBP 15,000 – 20,000 |
| GBP 30,000 GBP 30,000 / USD 40,280 |
Prior Years Auction Results
Laugh Now (signed AP)
| Laugh Now (signed AP), 2003 Edition: AP/15 |
| Sotheby’s online: 17 August 2022 London, UK Estimated: GBP 60,000 – 80,000 |
| GBP 75,600 GBP 75,600 / USD 90,720 |
| Laugh Now (signed AP), 2003 Edition: AP/37 |
| John Moran: 18 February 2020 Monrovia, CA, USA Estimated: USD 35,000 – 45,000 |
| USD 93,750 GBP 72,090 / USD 93,750 |
