Banksy's Mobile Lovers achieves $669,000 in private sale

paulfrasercollectibles

2015-06-26 13:52:34

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Banksy's Mobile Lovers achieves $669,000 in private sale

Banksy's Mobile Lovers achieves a major sum for an ailing youth group

Banksy's Mobile Lovers has sold to an anonymous buyer in a private sale, netting 403,000 ($668,931) for the Broad Plain Boys' Club in Bristol, UK.

Banksy mobileThe controversy over the ownership of Banksy's Mobile Lovers received worldwide press

Mary McCarthy of MM Contemporary Arts, the organisation that facilitated the sale, told the BBC: "I won't be revealing the buyer, but it's a private individual, a philanthropist who was very keen on investing in young people's institutions.

"I was able to find a buyer of significant value to be able to support them, not forever, but a little nest egg for a few years."

The work appeared on a wall near the club in April. The club's owner, Dennis Stinchcombe, moved the work inside the building, and offered members of the public the chance to see it for a donation.

This led to a heated debate over ownership,resulting in the work beingremoved by the counciland housed in the Bristol Museum.

Banksy then weighed in, stating in a letter to the boy's clubthat while he hadn't intended it as a donation "you have my blessing to do what you feel is right with the piece."

Stinchcombe commented: "Mobile Lovers has been a fantastic gift to us; without it, the club would definitely have shut within the next 12 months or so.

"The sale of the work has given us a cushion, to assist us in carrying on with our valuable work with the young people of Bristol."

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