Banksy: A prime time to buy

paulfrasercollectibles

2015-06-26 11:36:40

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Banksy: A prime time to buy

The credit crunch means prices are at historical lows...

Banksy artworks are failing to sellat auction due to the credit crunch, accordingto the news site examiner.com.

Out of 76 Banksy paintings to come up for sale, 30 have reportedly remained unsold.

London auction venues are said to be cutting back on their inventories of Banksy art, while other art auctions in the outlying areas have apparently cancelled sales.

If true, then falling artwork prices could provide bargains for investors. Banksy's fame and cultural impact mean that his works can guarantee good appreciation in coming years.

The artist's current expo, Banksy Versus Bristol Museum, at Bristol City Museum, continues to be a huge success. It has attracted a record-breaking 200,000 visitors so far with mile-long queues.

Museum bosses have organised a special late night openings, until 8pm, to cater for the show's popularity.

Recent Banksy sales include $230,500 for a painting at a New York Sotheby's event. Last year, the top price for a Banksy piece was $1.9m at Sotheby's RED charity auction in February.

Ongoing press fascination and celebrity fans including Brad Pitt and Angelina Jolie have also helped to establish the artist's influence.

We doubt prices will remain low for long with Sotheby's alreadycalling the bottom of the market.

This represents a unique buying opportunity.

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