While the art world has been sleeping and Londoners have been away on their summer holidays, Bristol’s biggest asset, Banksy, has been busy…
Dubbed “London Zoo,” the first of nine murals painted by the anonymous street artist started appearing across Greater London on August 5th, with the final instalment of this animal-themed series being discovered this past Tuesday.
As a heatwave gripped the capital, Banksy’s fresh stencilled works offered a bit of artistic excitement, sparking discussions in what is otherwise a lethargic time of the year. News of his latest creations quickly spread, captivating both local and international audiences. Legions of fans—and thieves—scrambled to catch a glimpse or a piece of the new graffiti.
After only a few days, two of the artworks have reportedly been stolen, and another vandalised. Even after decades of public interventions, Banksy has proven he still has the ability to draw a crowd.
Beyond the public buzz, one question lingers: What impact will this resurgence have on the Banksy market?
It’s been a turbulent few years in the art-world. But prior to 2019, the Banksy market had shown nothing but slow and steady growth, both privately and in the auction houses, with a visible track record online. Sotheby’s, Christie’s, and other major auction houses eagerly accepted Banksy pieces, instilling confidence in buyers that they were investing in something dependable. As demand surged, galleries worldwide jumped on the bandwagon, promoting Banksy as a top-tier investment—and for a while, they were right.
The COVID-19 lockdown further bolstered Banksy’s value. As people were confined to their homes, many found themselves reassessing their financial positions. With living rooms or kitchens becoming the new office, people started to notice their empty walls, sparking an interest in art collecting. Banksy quickly became a favoured choice for those looking to make their savings work harder.
In 2021, his works were fetching record prices. From unsigned editions to unique canvases, there was a two-year period when collectors and even new investors couldn’t get enough of his art.
By the end of that same year, the post-pandemic boom was beginning to ease off. That wave of new investors and collectors entering the market started realising that things were softening, leading to what financial experts would classify as a market correction. Today, you can buy Banksy works for prices similar to those in 2019.
Spending habits have shifted dramatically over the past few years, both in the art world and beyond. But with the recent hype surrounding Banksy’s latest works, there’s been a fresh wave of buyers looking to enter the market—and they might be onto something.
In the last six months, we’ve sourced Banksy pieces of significant value for our clients and are currently consigning some rare and highly sought-after prints. The market feels like it’s gaining momentum once again, suggesting this could be an opportune moment to buy.
If there’s a Banksy work you once admired but found out of reach in recent years, now might be the time to take another look. You could be pleasantly surprised.
