Girl and Balloon Canvas at Christie's

[cemltz]

For those who don't dig deep in to Christie's Hong Kong evening sales...a bit of OG Banksy...21/25 from 2003. Will probably get out of my range, so passing along. Let's see where it ends up...


www.christies.com/en/lot/lot-6497838?ldp_breadcrumb=back

[Newar]

HKD 8,568,000 (HK$6.8m)

[Bridget Riley 10]

Was interested in some of the good Banksy works offered on here recently but thought I’d wait to see what the Christie’s auction today and the Sothebys auction on the 1/10/24 delivered before DM anyone on here. 

The  Christie’s auction today showed 50% of the 26 Banksy lots failed to register a bid and those that did mainly got away with just one or two bids.

The Sotheby’s auction  next week looks potentially worse as large numbers of the Banksy’s on there have no bids but still a few days left I suppose. 

Obviously not great having circa 50/60 Banksys offered within a couple of days at these two auction houses in a falling market but seems the collapse in prices will continue for a while. Will keep my powder dry for now, unless a real bargain becomes available. 

[cemltz]

$1.1M US / $850k GBP ... not bad for a 40x40cm spray painted edition of 25.

I know Sotheby's sold one (#24?) for what, almost $3M a few years ago? The diptych version hit $4M around same time, I believe. The good 'ole days...

[The Italian One]

Sept 26, 2024 13:34:18 GMT 1 Bridget Riley 10 said:

Was interested in some of the good Banksy works offered on here recently but thought I’d wait to see what the Christie’s auction today and the Sothebys auction on the 1/10/24 delivered before DM anyone on here. 

The  Christie’s auction today showed 50% of the 26 Banksy lots failed to register a bid and those that did mainly got away with just one or two bids.

The Sotheby’s auction  next week looks potentially worse as large numbers of the Banksy’s on there have no bids but still a few days left I suppose. 

Obviously not great having circa 50/60 Banksys offered within a couple of days at these two auction houses in a falling market but seems the collapse in prices will continue for a while. Will keep my powder dry for now, unless a real bargain becomes available. 

sothebys was today
Christies the 1st oct

[The Italian One]

on other hands
for long time collectors it is nice to be able on buying at discount at Christies or sothebys without having headaches dealing with privates seller or dealers.

that's a buyers market

[Newar]

most of the the unsold are the unsigned one some people may have do some good deals

[The Italian One]

Sept 26, 2024 13:42:00 GMT 1 Newar said:

most of the the unsold are the unsigned one some people may have do some good deals

2 signed
11 usigned

[violinbloke]

I would just say that the Sotheby's Banksy sale wasn't really publicized. I had a piece in there, so I could find the sale on their page, but otherwise I couldn't find it.

[Someone Like You]

Sept 26, 2024 13:41:54 GMT 1 The Italian One said:

on other hands
for long time collectors it is nice to be able on buying at discount at Christies or sothebys without having headaches dealing with privates seller or dealers.

that's a buyers market

Buyer market waiting? Will they go down for a long time? 

[Daniel Silk]

I think many Banksy pieces have been well over valued, plus collectors are now more selective in what pieces they want.

[Patrick 01]

The condition reports on a lot of the unsold works didn’t read too well and their estimates were strangely aggressive.
All the same it was a disappointing sale.

[Eton Groover]

Sept 26, 2024 13:37:13 GMT 1 cemltz said:

$1.1M US / $850k GBP ... not bad for a 40x40cm spray painted edition of 25.

I know Sotheby's sold one (#24?) for what, almost $3M a few years ago? The diptych version hit $4M around same time, I believe. The good 'ole days...

Turned down a diptych back in the day for £25k on here. My (now ex) wife said it was ridiculous to plough all our savings into a crappy little spraypainted canvas and said no. 

I suppose during the divorce one could have kept the balloon and another the girl  
I think I would have preferred the balloon.....

[7star]

$1.1 million for a canvas out of 25 is amazing ....... the market for his originals are still strong and maybe the unsigned prints have dipped

[The Italian One]

Sept 26, 2024 13:50:16 GMT 1 Daniel Silk said:

I think many Banksy pieces have been well over valued, plus collectors are now more selective in what pieces they want.

2021-2022 everything were overvalued
happy Banksy's art is still holding well

[Daniel Silk]

Banksy collectors will be trying to upgrade their collections, so unsigned are unwanted, they will upgrade to Signed or Canvases.

[loui]

Sept 26, 2024 13:52:35 GMT 1 Eton Groover said:

Sept 26, 2024 13:37:13 GMT 1 cemltz said:

$1.1M US / $850k GBP ... not bad for a 40x40cm spray painted edition of 25.

I know Sotheby's sold one (#24?) for what, almost $3M a few years ago? The diptych version hit $4M around same time, I believe. The good 'ole days...

Turned down a diptych back in the day for £25k on here. My (now ex) wife said it was ridiculous to plough all our savings into a crappy little spraypainted canvas and said no. 

I suppose during the divorce one could have kept the balloon and another the girl  
I think I would have preferred the balloon.....

I don't think the ex-wife is all that mournful about being divorced 🙂

[cemltz]

Just flipped through the Christie's offerings...I suspect most of those will have trouble moving at current opening bids as well...

[Bridget Riley 10]

Agreed . However whilst time is still left in the auction you would think Christie’s would try and get their sellers to reduce prices mid auction .

[goose]

Just no consistency with these results atm - Colour Trolleys failed to sell at £25k today but back in July one sold for $54k (~£40k).

www.sothebys.com/en/search?locale=en&lotFilter=AllLots&query=banksy&tab=objects

No one has a clue what anything is worth anymore.

[Zippy]

A coloured trolleys sold at Phillips last week for £17k hammer / £21,590 all in