Q2 2021 Auction Results
Banksy Prints
Auction Fatigue…
117 Banksy prints sold during Q2 of 2021 for a total value of GBP 7,790,995 / USD 10,887,684, which represents around half the revenues generated during Q1 2021, which has always been a strong Quarter for Banksy with both Sotheby’s and Christie’s online auctions.
More interestingly, one can see some decrease in average values, and a higher level of bought-ins during Q2 of 2021.
Q2 2021 ended on a low note with Bonhams debut at online auction of Banksy prints. With very little communication, and what appeared to be an awkward timing to present no less than 29 prints for sale, of which 19 sold, some at record low prices…
One might easily understand there could be somewhat of an auction “fatigue” for some of those wonderful prints such as Love Is In The Air which was presented at auction no less than 14 times since 1 January 2021… One might think, that maybe with a bit of common sense, auctioneers themselves would advise their consignors to wait for a bit before selling at auction for their own good… Some of the results achieved today were somewhat predictable, and they do not serve any parties whatsoever, nor the auctions houses, nor the buyers, nor the sellers, nor the artist…
Sotheby’s London, 1 July 2021
Signed and numbered AP/03, lower right
Sotheby’s London, 1 July 2021
PASSED
Bonhams London, 29 June 2021
Banksy Prints Online Sale
29 prints were offered for sale, out of which 10 did not, quite a record for Banksy at auction… Di-Faced Tenners, the only “fresh” lot of the sale, broke its world auction record. On the other hand, one can easily understand there could be somewhat of an auction “fatigue” for some prints such as Love Is In The Air which was presented at auction no less than 14 times since 1 January 2021…
Auction Statistics
Total Revenues: GBP 1,386,000 / USD 1,917.052
Number of Lots Sold: 19 (7 unsigned prints)
Sell-Through Rate: 65.5%
Top Lot: Choose Your Weapon (Bright Purple) sold for GBP 175,250 / USD 242,399
Auction Results
Auction Highlights
Pulp Fiction (signed), 2004
Signed and dated in felt-tip pen, lower right
Numbered 30/150 in pencil, lower left
Bonhams online, 29 June 2021
GBP 100,250 / USD 138,661
Barcode (signed), 2004
Signed in black ink, lower left with the artist’s stamp in red ink
Numbered 68/150 in pencil with the publisher’s blindstamp, lower right
Bonhams online, 29 June 2021
GBP 94,000 / USD 130,017
Di-Faced Tenners, 2004
Signed and dated in black ball-point pen, lower right
Numbered 30/50 in black ink with the publisher’s blindstamp, lower left
Bonhams online, 29 June 2021
GBP 94,000 / USD 130,017
Girl with Balloon (unsigned), 2004
Numbered 27/600 in pencil with the publisher’s blindstamp, lower right
Bonhams online, 29 June 2021
GBP 150,250 / USD 207,820
Choose Your Weapon (Bright Purple), 2010
Signed in purple crayon, lower right
Numbered 11/25 in purple crayon, lower left
Bonhams online, 29 June 2021
GBP 175,250 / USD 242,399
Nola (White Rain), 2008
Signed in pencil, lower right
Numbered 176/289 in pencil, lower left
Bonhams online, 29 June 2021
GBP 125,250 / USD 173,241
Barcode (unsigned), 2004
Numbered 352/600 in pencil with the publisher’s blindstamp, lower right
Bonhams online, 29 June 2021
GBP 31,500 / USD 43,569
Love Rat (unsigned), 2004
Numbered 260/600 in pencil with the publisher’s blindstamp, lower left
Bonhams online, 29 June 2021
GBP 40,250 / USD 55,672
Tate Ward Auctions, 24 June 2021
FX GBP/USD @ 1.42
Tate Ward Auctions included no less than 17 Banksy Prints to its urban art auction on 24 June 2021.
With 10 lots bought-in and 2 lots withdrawn, it might have broken the record of the worse performance ever for Banksy Prints at auction.
That does not necessarily reflect any major issue in the Banksy Prints market. Poor results at auctions often are the result of a conjunction of many potential different factors: (1) the quality of the prints offered (condition issues result in bought-ins or lower prices): (2) the content and organization of the auction (a very long auction and prints presented towards the end would not give good results); (3) the timing (in this case this auction was handled while Bonhams is running its first online auction for Banksy Prints); (4) more generally the lack of targeted marketing of the auction house itself (lack of preparedness); and/or (5) simply bad luck (no bidders are available at that time in the case of live auctions).
Sotheby’s Hong-Kong, 22 June 2021
Grannies (unsigned), 2006
Numbered 438/500 in pencil with the publisher’s blindstamp, lower right
Sotheby’s Hong-Kong, 22 June 2021
GBP 37,700 / USD 52,300
Phillips, June 2021
Phillips London, 14 June 2021
Signed and dated in black ink, lower right
Numbered 82/150 in pencil, lower right
Numbered 661/750 in pencil, lower right
Signed and dated in black ink, lower right
Numbered 56/150 in pencil, lower right
Signed and dated in pencil, lower right
Numbered 90/150 in pencil with the publisher’s blindstamp, lower left
Numbered 547/750 in pencil, lower right
Phillips Hong-Kong, 7 June 2021
GBP 126,000 / USD 179,000
GBP 74,600 / USD 106,000
GBP 48,200 / USD 68,200
Forum Auctions, 10 June 2021
Various Auctions, May 2021
Various Auction Houses
Bonhams London, 28 April 2021
Forum Auctions, 25 April 2021
Heritage Auction, 22 April 2021
Sotheby’s, April 2021
Sotheby’s New-York, 22 April 2021
Sotheby’s Hong-Kong, 21 April 2021
Various Auctions, April 2021
