The auction hall of Sotheby’s, which has seen Monets and Picassos among other things, will be featuring the work of street artists like Barry McGee and Banksy. February will have something of a street art takeover at the major London auction houses. Of course, this isn’t just any street art. At projected prices of over $1 million, this is ultra-swanky street art.
Among the pieces up for auction are Banksy’s ‘You Told That Joke Twice,’ featuring a clown being hauled off by police, and Barry McGee’s ‘Car boot,’ a sculpture of the trunk of a car filled with spray paint. Check out the gallery for more ultraswanky street art.
Ultra-Swanky Street Art
Sotheby's, Christie's and Phillips De Pury Hold Street Art Auctions
Trend Themes
1. High-end Street Art - The rising demand for high-end street art presents an opportunity for luxury auction houses to tap into a new market.
2. Price Surge in Street Art - The projected prices of over $1 million for street art auctions indicate the potential for a lucrative investment opportunity in the art market.
3. Street Art Market Expansion - The inclusion of street art in major auction houses suggests the growing acceptance and mainstream appeal of this art form.
Industry Implications
1. Art Auction Houses - Auction houses like Sotheby's, Christie's, and Phillips De Pury can capitalize on the market demand for high-end street art by hosting specialized auctions and attracting affluent collectors.
2. Luxury Art Market - The luxury art market can benefit from the rising prices and growing interest in street art, expanding its offerings to cater to a wider range of buyers.
3. Art Investment - Investors looking for alternative investments can consider street art as a potentially disruptive opportunity to generate substantial returns.