Banksy’s $60 Works from New York Stint to Fetch $100,000
We all knew it was coming: two of the works that Banksy sold through a street vendor for $60 while on his self-proclaimed residency in New York last fall are headed to Bonhams, Art Daily reports. Kids on Guns (2013) is estimated to snag anywhere from £50,000–70,000 ($85,000–119,000). It’s partner (pictured above) Winnie the Pooh (2013) is estimated at a slightly more modest £30,000–50,000 ($51,000–85,000).
To put those prices in perspective, even if the lower-valued Pooh work were to hit the bottom bound of its estimate, the sale would represent an 84,900 percent return on investment. If Kids on Guns were to reach its upper estimate, the sale would mark a 198,200 percent return on investment.
Bonhams head of Contemporary art, Gareth Williams, called the stunt, which took place along Central Park “One of Banksy’s greatest coups during Better Out Than In,” the name he gave the residency. During his New York stay, Banksy attempted to make one artwork or intervention each day.
Two other works by the anonymous street artist are being offered in the July 2 London sale. Slow Down is estimated to fetch between £70,000–100,000 ($119,000—169,000). It’s one of the few pieces, which have been released from the studio with an official certificate of authenticity. Heavy Weaponry, a canvas featuring his iconic elephant, is estimated at £30,000–50,000 ($51,000–85,000).
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