Banksy's online store open for business
The artist Banksy’s new online store is open for business.
The store, dubbed “Gross Domestic Product,” lists 22 products that fans and art collectors have a chance to buy. They are only allowed to register for a chance to win the right to buy one product on the site.
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Prices range from 10 British pounds (about $13) for the Banksy Mug and Banksy Black spray paint can, which have unlimited editions, to 850 British pounds (about $1,100) for the Banksy Vest, which is limited to an edition of one.
MALAGA, SPAIN - 2019/05/23: A painting of 'Girl with a balloon' seen during the exhibition. 'Banksy The art of Protest' at cultural center 'La Térmica' is an exhibition showing for the first time in Malaga. the work of famous and mysterious British s
Other items like Banksy Baby Mobile, Banksy Goldfish and Banksy Ultra HD TV are listed as “coming soon.”
Banksy’s art has become a hot commodity since he stopped releasing prints in 2010. There have been years where prices have exploded by 25, 30 or even 40 percent.
“With Banksy, in general, it’s been going nothing but up for about the last seven or eight years, probably even longer than that,” Brian Swarts, president of Taglialatella Galleries told FOX Business in September.
“Sort of in a period where he stopped releasing a lot of public, limited edition prints and things like that. People realized there was a limited supply and demand kept going up.”
On Oct. 3, Banksy’s “Devolved Parliament,” a satirical oil painting depicting the House of Commons filled with chimpanzees, sold for 9.9 million British pounds ($12.1 million), setting a Sotheby’s record for his work. Prior to the auction, the artwork was expected to sell for between 1.5 million British pounds and 2 million British pounds.
A few weeks prior, a print of Banksy’s “Girl with Balloon” sold at Sotheby’s for 200,000 British pounds, well above the presale estimate of 60,000 British pounds to 80,000 British pounds.
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“There might be a bubble, but I don’t know if it’s particular to something like street art,” Swarts said. “I think it would be across the board if there’s a little bit of over inflation.”