Lot 116. Put Out More Flags, Howard Hodgkin. Phillips Evening and Day Editions Sale, 2015. Sold for £3,750.
Lot 123. Soft Blue Landscape. Richard Hamilton. Phillips Evening and Day Editions Sale, 2015. Sold for £1,125.
Lot.43. Ups and Downs. KAWS. Phillips Evening and Day Editions Sale, 2015. Sold for £25,000.
The demand for owning affordable high-roller names on the walls is now palpable and more evident than ever. That became clear after Bonhams' evening urban art sale from 28th January (covered here), where a significant number of the Banksy's limited- edition prints were auctioned, raising a total of £434,600.
Steve Lazarides ( former Banksy gallerist and dealer of his works) claims that 'When the prices of originals rise above a certain point, it drives the sales of prints' (New York Times, Feb 2015).
That, combined with the fact that Banksy no longer produces commercially-marketed prints, sets the current valuation for the artist's most notable images on paper between £10,000 and upwards of £30,000.
Stop and Search, 2007; CND Soldiers, 2005; Barcode, 2004. Banksy.
'The print market will be always important for Banksy as it allows collectors and entry point into the market that a canvas or a painting does not', notes Ben Cotton, from the Hang-Up Gallery. 'Over 80 % of our sales are from limited editions. They offer a collector an opportunity to buy high quality artworks from big names in the art world; names without paying the high price tags associated with original artworks', continues Cotton. 'A Banksy painting will cost upwards of £100, 000 yet an authentic limited edition can start at around £2,000 making it considerably more attainable for a young collector'.
Owning limited edition prints can be the solution for obtaining a piece of work by high profile, well-regarded artists, without needing to pay the overly inflated prices that many contemporary artwork are currently sold at. Furthermore, with the advanced role of the world wide web in taking art to broader audiences, the market can continue its methodical opening up, creating new wider opportunities for both artists and first time buyers.
As for those who wonder what the future holds, Ben Cotton adds 'The editions have consistently performed well at auctions and continue to break records year on year. This has been happening for pretty much a decade now. I do not see this stopping anytime soon, although it's Banksy we are talking about so I guess anything could happen!'
So we are safe for now... Buying printed editions does not end today!
Sales End Today, Banksy, 2006.
All images unless stated otherwise are via Phillips.
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