Banksy has long been noted for his disdain of fame, yet the unpredictability of when a new mural will appear or what his next project might be arguably serves as the clearest example of how scarcity is generated. Whether by design or not, Banksy’s anonymity combined with the sudden emergence of his murals has made his work incredibly sought after.
It is natural to wonder how the excitement and publicity surrounding a new mural might affect the value of the Banksy pieces in your own collection. In this blog we explore the influence of Banksy’s murals on the art market, with a particular focus on his limited edition works.
To start, it is helpful to revisit the early days of Banksy’s career and the street art scene at the time. In 1999, Banksy’s mural Mild Mild West appeared in Bristol, widely regarded as his first publicly recognised work, painted in broad daylight.
That same year also saw Invader’s mosaic on the Hollywood sign and the release of KAWS’s first Companion collectible. The rise of the internet, along with graphic design software and digital photography, provided street artists with new tools to plan, document and share their work more widely.
By 2000, Banksy had adopted stencilling as a faster and more discreet method, marking the beginning of a series of murals that attracted growing attention. His first commercial print, Rude Copper, was released in 2002, soon followed by screenprints such as Gangsta Rat and Girl with Balloon.
During the mid to late 2000s, the value of Banksy’s prints had begun to rise substantially, and in 2007, secondary market sales had surged, with auction totals exceeding $1.3 million. In response to growing demand, Banksy established Pest Control to authenticate his works and combat counterfeits.
By 2010, he had produced a total of 47 prints. These modern art prints bolstered his reputation in the art world and opened doors for other street artists, helping to secure street art’s place within the realm of fine art. Banksy’s prints were also seen as a way of democratising art, making it more accessible to a wider public.
High-profile stunts, such as the 2018 Sotheby’s auction where Girl with Balloon partially shredded itself, and Stormzy wearing a signed vest at Glastonbury, further amplified interest in his work.
In 2021 the original Game Changer appeared in the foyer of Southampton General Hospital during the first wave of the pandemic, a gesture from Banksy that underscored the cultural significance of his art. Following such events, prints were selling at markedly higher prices, driven by rising online art sales, the pandemic and an influx of younger collectors.
Today, with the benefit of hindsight, history shows that investing in Banksy has become highly lucrative for collectors, as he releases editions far less frequently than at the start of his career. Whether its homeware via Gross Domestic Product, an original painting or a limited edition screenprint, each release contributes to the growth of the Banksy market. Murals, at the heart of his street art origins, continue to keep him visible in the public eye, despite his anonymity.
With the insights from this blog, you can better appreciate the growth of Banksy’s limited edition secondary market. Explore our Banksy collection at Hancock Gallery and discover your options for investing in Banksy.
