Banksy Grappling Hook

[mose]

Fascinating decision. Thank you for sharing this.

My natural instinct would be to say 'no' unless you line up a buyer before putting the money down, take a hefty deposit from them, have a written contract outlining payment terms and the handling of the Pest Control COA, and get a handsome commission given the hassle/risk involved.  It's gotta be worth it.

I look at something like this as a trap. It beckons you in 'look, a rare Banksy, oh buy me' but then, after the glow wears off, several months or years later, you have a pricey item with a very small market. This is niche, very niche and, as a result, will be harder to move and will appreciate slower(or depreciate faster as the case may be) than items with more broad-based appeal(for example, a 'Girl with Balloon' that will easily hang above the sofa).

Look at the past history of the Watchtowers from 2007. Does that make you more or less confident?

To me, the Banksy print/edition market is a massively overinflated bubble and bubbles pop, making a big mess for everyone caught in 'em.  Further, I was taught, and have learned hard lessons, that you never buy atypical works.  EVER.  Like special edition artist books, the atypical work tends to be a sucker bet.  This current piece combines both of these and, IMO, rather loudly yells 'pass'.

[iamzero]

That’s a lot of money dude.

[nobokov]

See if you can trade in the opportunity for a £500 Sale Ends. That would be the better deal, unless you have an immediate need to scale a wall to reach a pot of gold.

I'd definitely go with the house, at least you can live in it with your regrets.

[.dappy]

Dec 14, 2017 7:22:13 GMT 1 @bonjourboutique said:

So I was at the Walled Off in September and put my name down for the Crucifix Grappling Hook lottery.
Randomly got an email from [e-mail] offering me the crucifix saying my name was pulled from the "hat" ...a fedora perhaps? 

It's 40K GBP?! Signed edition of less than 30.

Not an easy cheap purchase, more like a new home deposit 

Should I buy? Thoughts? Or should I just buy a home?

Who thinks it is a good investment and would guesstimate it's possible future value?

Details of the offer below via The Walled Off Hotel. Sounds like POW UK handling the sale:


"Commiserations.

Your name has been pulled out of the hat to purchase one of Banksy’s limited-edition Grappling Hooks. Full details below.

Banksy
'Grappling Hook'

Wooden cross finished with woodstain and shellac,
painted aluminium hooks and bolts,
painted polyurethane Jesus,
synthetic hemp rope,
steel bracket and pin,
instruction sheet,
stainless steel screws.

signed and numbered by artist
Executed in 2017
H:60cm x W:42cm x D:24cm deep - plus rope
£40,000 + VAT (if applicable)


Grappling Hooks will be shipped w/c 15th January 2018.

Please note: applications for Pest Control Certificates of Authenticity will not be invited for these works until January 2019 and will only be issued to the original owner."

... really difficult decision ... I suppose the first question is ' have you got £40k lying around?'. and then as you say whether you have it for other other parts of your life and what is more important for you?

[mose]

additional note. The cynic in me would think something like 'If I randomly got an email, that likely means they already offered the edition to their VIP list, enough of whom didn't see value and passed, before they reached out to someone who just put their name down'.

[Gunny]

No brainer IMO

[jluhiex]

Dec 14, 2017 7:22:13 GMT 1 @bonjourboutique said:

So I was at the Walled Off in September and put my name down for the Crucifix Grappling Hook lottery.
Randomly got an email from [e-mail] offering me the crucifix saying my name was pulled from the "hat" ...a fedora perhaps? 

It's 40K GBP?! Signed edition of less than 30.

Not an easy cheap purchase, more like a new home deposit 

Should I buy? Thoughts? Or should I just buy a home?

Who thinks it is a good investment and would guesstimate it's possible future value?

Details of the offer below via The Walled Off Hotel. Sounds like POW UK handling the sale:


"Commiserations.

Your name has been pulled out of the hat to purchase one of Banksy’s limited-edition Grappling Hooks. Full details below.

Banksy
'Grappling Hook'

Wooden cross finished with woodstain and shellac,
painted aluminium hooks and bolts,
painted polyurethane Jesus,
synthetic hemp rope,
steel bracket and pin,
instruction sheet,
stainless steel screws.

signed and numbered by artist
Executed in 2017
H:60cm x W:42cm x D:24cm deep - plus rope
£40,000 + VAT (if applicable)


Grappling Hooks will be shipped w/c 15th January 2018.

Please note: applications for Pest Control Certificates of Authenticity will not be invited for these works until January 2019 and will only be issued to the original owner."

If you don't buy it someone else will.

As with anything in life, buy within your means with no regrets. Easier said than done right?

[gd79]

They'll comfortably sell thirty.

Not much advice, but look carefully at any extra charges as well. If it is shipping from UK and attracts VAT then that's another cool 8k. If it's overseas and attracts customs charges it could be more.

In other words, don't sell yourself on it at 40k and then have to find another few grand lying around

[Deleted]

Buy it with the wife's card, she will be fine I'm sure

[helium]

Holy grappling hooks
40k
That's a huge decision
Me personally wouldn't buy it's too much of a risk playing the big figures like that
Could easily see them selling for more in the future but I just couldn't play the game at them numbers

[blerd]

100% buy!

[cyberkid]

i would buy and add it to my collection. wow...a great oportunity to get a banksy from source...!!

but i can understand your thoughts with the home deposit. in your case...share the costs, risk and profit: try to find 2-3 collector friends, make a contract, share the costs and put it to an auction house after getting the coa. i am sure you will make a profit. invest in your home.

[streetartger]

Okay... it's a Banksy... but 40k + Shipping + 19% VAT in Germany ?! Wow...
The PEJAC sculpture for 2.3k seems a steal compared to this price tag...

Hard decision... I would also follow cyberkid's advice...

[Boyle44]

40k plus vat is big money for this I would have a long think about it before you say yes.

[viz]

very difficult decision, i agree with a lot of what mose wrote (especially this one... " Further, I was taught, and have learned hard lessons, that you never buy atypical works. EVER.") but the suggestion by cyberkid seem to be very good, although that would cause to have problems enjoying it as it might need to be put in a secure place agreed by the parties.

This is a piece I would more likely see exhibited in a museum, rather than in a private home...

anyway, probably you already received some PMs making you decision much easier...

[Carl Cashman]

Congrats, unfortunately didnt get the mail... stoked for all that did ✌

[Gunny]

Not many Banksy's sculpture wise, makes this a must buy - It is also exactly what viz says, a museum piece. You would expect to see it exhibited in a museum or similar. Don't forget all proceeds stay in the local community, so Banksy has to be commended for that. A cracking piece and an amazing opportunity, good for you and well done!

[Not 4 The Thril]

BUY IT

WHO NEEDS A HOME WHEN YOU CAN USE THE LORD

TO GRAPPLE INTO OTHER PEOPLES HOMES

[v00d00]

That's a massive amount of pressure to drop on someone.

I'd love to see the instruction sheet though.

[rosac]

buy it

[Nuno]

£1.2m for the locals(?). What a lovely Christmas present

[sanbasoul1]

Dilemma!

[Aubrey 245]

Get 3 friends to share the amount and BUY!!!

[robdog]

Dec 14, 2017 7:22:13 GMT 1 @bonjourboutique said:

Please note: applications for Pest Control Certificates of Authenticity will not be invited for these works until January 2019 and will only be issued to the original owner."

This was an interesting line to me. Wonder if that will affect the Sale Ends prints too.

[v00d00]

Dec 14, 2017 10:09:02 GMT 1 robdog said:

Dec 14, 2017 7:22:13 GMT 1 @bonjourboutique said:

Please note: applications for Pest Control Certificates of Authenticity will not be invited for these works until January 2019 and will only be issued to the original owner."

This was an interesting line to me. Wonder if that will affect the Sale Ends prints too.

This little addition wasn't on the Sale Ends email.

[bjoern]

Amazing. My name was also on the list but had no luck this time. Seems like this is really the same size as the one displayed in the lobby.

40k is really expensive, but besides this it is a must buy and I would share the amount with friends.

CONGRATULATIONS!

[eschiff]

Got the email as well. Tough call!

[bjoern]

Dec 14, 2017 10:25:28 GMT 1 eschiff said:

Got the email as well. Tough call!

when were they sent out?

[Morfx]

40k... Wowzers..

[Deleted]

According to you other post you have already paid for it a couple of months ago.....