Police called in by council to find Peckham art valued at £500,000 by Banksy. A gallery owner suggests the art’s potential worth, indicating its significant value.
One gallery owner has told the BBC he believes the banksy artwork could be worth up to £500,000.
Jasmine Ali from Southwark Council expressed strong confidence in the retrieval of the item, emphasizing its significance beyond a mere street sign, referring to it as a piece of community-centric street art intended for the people. The Metropolitan Police mentioned the installation of a new traffic sign to ensure the safety of road users.
On Friday around 12:30 GMT, one observer expressed being in awe as they witnessed the sign being taken down. Alex, aged 26, mentioned the collective uncertainty among onlookers, stating, “We simply observed it unfold.” A person steadied a Lime hire bike for another individual, who then balanced on its saddle, reaching up to disconnect the artwork. With a swift wrench, the piece was freed from its post, and the individual swiftly disappeared down the street out of view.
After the incident was reported to the Met Police, art gallery owner John Brandler raised doubts about it being a “publicity stunt.”
Brandler speculated on its potential value, estimating it could fetch anywhere between £250,000 to £500,000, possibly even more due to increased media attention.
“I’m inclined to think it was orchestrated as a Christmas gift for someone, if I’m being cynical,” he remarked.
Banksy’s recent artwork, confirmed by the artist on Instagram, was widely perceived by his followers as a plea for a ceasefire in the Gaza Strip. This piece echoes a similar drone art installment from 2017 at Banksy’s Walled Off hotel in Bethlehem, known for its view of Israel’s contentious West Bank wall, described by the artist as “the worst view of any hotel in the world.”
Professor Paul Gough, vice-chancellor at Arts University Bournemouth, highlighted Banksy’s art as thriving on ambiguity, noting that the artist deliberately places his work. Gough emphasized Banksy’s intentional approach, citing the artist’s absence of Instagram follows, despite amassing around 40,000 comments on his posts, leading to a multitude of interpretations.
Ulrich Blanche, a street art expert from Heidelberg University, remarked that Banksy’s impactful creations are often seen as making political statements. He interprets the placement of Banksy’s work on Commercial Way, adjacent to a funeral home with the imagery of departing drones, as a commentary on the global arms trade.
While this particular Banksy piece could fetch hundreds of thousands of pounds, Blanche suggested that finding a buyer might not be as simple due to the circumstances surrounding its acquisition.
“Although it holds considerable value,” Mr. Blanche added, “the owner might encounter challenges selling it because of its origin.”
Throughout the year, Banksy has unveiled other installations, such as the Valentine’s Day Mascara mural weighing 3.8 tonnes, which emerged on a Margate house wall depicting a 1950s housewife and a confronting scene with symbolic elements. This piece was later exhibited for public viewing at The Art of Banksy exhibition in central London in September.
Four years ago, Banksy opened a shop in Croydon showcasing various artworks, including the stab vest he designed for Stormzy’s headline performance at the Glastonbury festival.
Source: BBC News
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