[Neate Michael]

Hi

I have 3 Banksy's... A signed colour trolleys and unsigned Monkey Queen and Love Rat.

Looking at recent prices I think I could get over £200k for all 3.

How should I go about selling? I am based in Sweden which for all kinds of reasons is a pain right now (such as not being able to go back to London to see my mum and dad).

But I do feel the market has reached it's peak. I think that once we go back to some kind of normal, buyers will spend their money elsewhere. And also that kind of money whacks a huge amount off my mortgage.

So any help would be gratefully received.

Thanks to all
Michael

[Judgement day]

I can’t see we have reached its peak and maybe once we go back to normal and people start going back into auction houses prices may go up
Hold onto them

[Argiebaji]

Hold IMO too.

[Deleted]

The wealthy are buying up everything, and Banksy is still a growing market around the world, I don't see things dropping anytime soon. I would also hold if you can...

[sharky]

Agree on holding them

[Alchemy Art]

The post is not about advice whether to sell or hold, so I will answer with a priceless advice : auction houses only, Sotheby's or Christie's as you are based in Sweden. This is your best route to achieve the best possible price and the safest option to sell.

[Neate Michael]

Thanks. And the advice on holding on to them is heard and understood. I think every year I think I should sell the prints. Certainly a year ago when I could have got near 100k for all of them I thought I should sell. And now they have doubled since then. But if someone would pay (for example) 70k for a coloured trolleys, I would be hugely surprised if they would then go to 120k. But then I have not being stopped surprised yet.

[theclash]

Mar 22, 2021 10:54:59 GMT 1 Neate Michael said:

Thanks. And the advice on holding on to them is heard and understood. I think every year I think I should sell the prints. Certainly a year ago when I could have got near 100k for all of them I thought I should sell. And now they have doubled since then. But if someone would pay (for example) 70k for a coloured trolleys, I would be hugely surprised if they would then go to 120k. But then I have not being stopped surprised yet.

If you end up being on the fence of what to do sell 1 or 2 of them. That way you bring in a meaningful amount of money and still have exposure. Best course is probably an auction as stated. Good luck and well done having and holding these pieces so long

[irl1]

Mar 22, 2021 9:15:38 GMT 1 Neate Michael said:

Hi

I have 3 Banksy's... A signed colour trolleys and unsigned Monkey Queen and Love Rat.

Looking at recent prices I think I could get over £200k for all 3.

How should I go about selling? I am based in Sweden which for all kinds of reasons is a pain right now (such as not being able to go back to London to see my mum and dad).

But I do feel the market has reached it's peak. I think that once we go back to some kind of normal, buyers will spend their money elsewhere. And also that kind of money whacks a huge amount off my mortgage.

So any help would be gratefully received.

Thanks to all
Michael

Sotheby's or Christies. 

Make sure you haggle the fees, they will want to take all 3. 

Having 3 will give you a much better chance to do a good deal. Best of luck 

[Neate Michael]

What is a good fee to ask for?

[Neate Michael]

Mar 22, 2021 10:59:59 GMT 1 theclash said:

Mar 22, 2021 10:54:59 GMT 1 Neate Michael said:

Thanks. And the advice on holding on to them is heard and understood. I think every year I think I should sell the prints. Certainly a year ago when I could have got near 100k for all of them I thought I should sell. And now they have doubled since then. But if someone would pay (for example) 70k for a coloured trolleys, I would be hugely surprised if they would then go to 120k. But then I have not being stopped surprised yet.

If you end up being on the fence of what to do sell 1 or 2 of them. That way you bring in a meaningful amount of money and still have exposure. Best course is probably an auction as stated. Good luck and well done having and holding these pieces so long

It is the one time my indecisiveness has really helped. And I still am. I concede I may be here this time next year asking if now is the right time to sell. But they are worth so much right now, selling them would take a lot of money off our mortgage. And even if they do go up, I will be saving hundreds of pounds on my mortgage each month anyway.

[GMA]

Mar 22, 2021 11:07:43 GMT 1 Neate Michael said:

Mar 22, 2021 10:59:59 GMT 1 theclash said:

If you end up being on the fence of what to do sell 1 or 2 of them. That way you bring in a meaningful amount of money and still have exposure. Best course is probably an auction as stated. Good luck and well done having and holding these pieces so long

It is the one time my indecisiveness has really helped. And I still am. I concede I may be here this time next year asking if now is the right time to sell. But they are worth so much right now, selling them would take a lot of money off our mortgage. And even if they do go up, I will be saving hundreds of pounds on my mortgage each month anyway.

Don't forget to calculate the interest too

[reg]

And tax.

[Neate Michael]

Mar 22, 2021 11:18:03 GMT 1 reg said:

And tax.

Tax is an absolute fucker. It is 23% in Sweden. No real way out of it that I can see either. But still say I could get 200k for all 3, 175k is a lot off my mortgage.

[T-Bro]

154 off the mortgage...

[Dice]

Yeah keep one if you can so you’re still in the game

[GMA]

Put it all on black

[reg]

Probably best to think about how well you've benefited from Banksy and thank him for changing your life whilst also paying a sum into the country you live in, to pay for schools and hospitals.

From that point on you'll be a "used to own a Banksy" person to your friends and always have that niggling feeling whether you sold for the right price at the right time, but with a much smaller mortgage.

[Eastend Boy 13]

People are generally recommending the large auction houses, but with the very substantial buyers' AND sellers' fees, is there not an argument to sell on consignment via a gallery taking say 10% commission, and with room to still give the buyer a fair price? Unless prices are completely run-away at a particular time, this seems a fair compromise to me.....

[Dive Jedi]

Mar 22, 2021 11:07:43 GMT 1 Neate Michael said:

Mar 22, 2021 10:59:59 GMT 1 theclash said:

If you end up being on the fence of what to do sell 1 or 2 of them. That way you bring in a meaningful amount of money and still have exposure. Best course is probably an auction as stated. Good luck and well done having and holding these pieces so long

It is the one time my indecisiveness has really helped. And I still am. I concede I may be here this time next year asking if now is the right time to sell. But they are worth so much right now, selling them would take a lot of money off our mortgage. And even if they do go up, I will be saving hundreds of pounds on my mortgage each month anyway.

Money is very cheap at the moment. Interest is very low, so paying of your morgage might not be the best way to go now. Although this of course depends on your personal situation. Giving advice without knowing all the facts is kinda useless. My advice in general would be to see if re-closing your morgage to a lower interest rate is possible. Shorter periods have a fixed interest rate, and since interest will be low for years to come , so that can save you a lot of money as well. I pay 1.2 % for a 1-year fixed interest rate. It's not worth paying of.

Concerning the Banksy :

1. Keep the signed one.
2. Keep the Rat.
3. Keep the image you like most

Do NOT sell all three of them. 
Keep at least one - preferably 2.

In any case : congratulations - you did well what ever you do.  

[Argiebaji]

Actually agree with the last few posts.

I'm no expert but if you want the cash, then sell some and keep some?!

You're still in the game.

IMO The Love Rat has more room to increase, so keep that one!?

[Pawel]

Destroy one of them and sell the nft. Problem with shipping and handling solved

Go to the kochał shooting range and shoot the rat in the head (nice slow motion image), then tie it to fireworks or something.

Btw i Olson believe the peak is still ahead, but the the market should show down a little bit, so putting your money elsewhere shouldn’t be necessarily such a bad idea.

[damo]

Without taking this too far down a dull financial cul-de-sac.. there is a fair argument that high inflation will be a big consequence of the global financial reaction to Covid. And high inflation is a killer for anyone sat in cash. It also equates to higher interest rates so your mortgage becomes a far bigger burden. Most asset classes (stocks) perform badly during inflationary periods but there are exceptions in gold and tangible assets. Not least Investment grade art. And I think it is now a reasonable fact that Banksy qualifies in that class (as much as we would all like to dismiss the fact).

I sold mine years ago and it would be a great problem to have but my suggestion would be A) if you are wanting to sell now.. use the money to pay off cheap debt now, and B) don't assume the market for Banksy is just those interested in the artistic merit/message and will end when we go back to normal. It isn't and actually it could be further fuelled (if it isn't already) by a whole new wave of 'investors' looking for a home for their cash as the threat of inflation kicks up.

However, no one really knows anything when all is said and done. So the advice from others above is probably best - sell 1 and keep 2, and then review again in a year. No financial return can match having any of those three up on your walls/the ever nagging feeling of regret once they are gone!

Congrats though, you hopefully win with whatever path you follow.

[jimmyjam]

Like posted above - a strong Auction house like Sotheby’s or Christie’s will get the best results. Some auction houses may give you a better seller rate than those. See which one gives the best rate and then also gets the best results and figure it out from there.

After watching Banksy and Invader prices continue to rise over the past decade. I have seen many people sell Banksy prints and Invader kits to trade for other artists who’s markets have completely collapsed.

Unless you need to buy a house or pay off debt. Invader and Banksy - just hold on to. If not, make sure the sellers rate is low and it’s with a well known auction house.

[Deleted]

I'd keep them all if I could. Depends how much You need the money and your age I suppose.

Go back 10 or so years and look at where the prices are today.

Now fast forward 10 years, and guessimate. I don't think they'll be less than now? Do You?

I sold a few about 2 years, it's a not a great feeling when you see what they are worth now, ie trolleys I sold for £20k I think, bought it for £3k, still shit loads of money for doing nothing, but.....

It takes quite a lot to earn that type of money so to see that kind of return from a bit of paper is pretty wonderful or obscene dependant on Your viewpoint.

Good luck, and I agree with reg above

[njr911]

Interest rate on mortgage vs annual increase in Banksy market would suggest hold but doesn't take into account real life.

[Deleted]

I also see You have been around here about the same time as me

I remember A guy on here selling via ebay about 12 Signed prints, cashing out, all ending on a Sunday Night. We were shocked at how much he got, some of them as much as £5k, think he cleared about £50k from his sale


He would be pretty chuffed 10 or so years on looking here now!!

[Neate Michael]

The worst decision I made, was to swap a Stop and Search for a Calm Fear at the height of the Adam Neate craze. I did not like the Stop and Search image and the wife loved the Adam Neate. I think I maybe chucked in some cash too. Crazy.

But then the Monkey Queen was a swap for a Parla print. To be fair the Parla print was amazing (one of the Elms Lester ones) but it was not going to make the wall. I still chat with the fella I swapped with occassionally. He professes no hard feelings.

And of course, all those who have been on here for as long as some of use (since just before Flags for me) must have wished we bought at the second hand prices back then... (£3k for a signed Banksy! Mad!)

[aki]

I’m in a similar position, could weight them in for half a million but by the time I’ve worked out what to do with the cash they will probably go up. Unless you really need the money try to hang on to them.

No point me paying mortgage yet with interest so low and it gives me motivation to get my ass to work.

[Neate Michael]

Mar 22, 2021 17:10:08 GMT 1 aki said:

I’m in a similar position, could weight them in for half a million but by the time I’ve worked out what to do with the cash they will probably go up. Unless you really need the money try to hang on to them.

No point me paying mortgage yet with interest so low and it gives me motivation to get my ass to work.

If I could get half a million I definitely cash out!