Banksy, the UK’s best known street artist is well known for his street art originals popping up on walls all over the UK, mainly London, Brighton, Liverpool and his hometown Bristol. Today, more people than ever are investing in Banksy’s artwork making it one of the most exciting fine art investments in the market. With no release of new commercial prints since 2009, a piece of Banksy art continues to sell at auctions for well above its estimated value.
Has a Banksy painting got you intrigued? Here are some things you need to know before buying one.
1. Is it a Banksy?
With so many Banksy copycats around, be sure the artwork you are investing in is an original. Get the artwork you intend to purchase verified by Pest Control; a team of agents tasked in authenticating an original Banksy. Keep the certification, you will need it when you wish to sell your Banksy.
2. What’s it about?
Choose your image wisely, a popular image holds a better resale value. Banksy’s Girl with a Balloon, holds wide appeal and is easy to resell. However, tastes and preferences change over time so go with what feels right.
3. Is the Price Right?
A Banksy signed edition could range from £80,000 up to £1million. Be sure you are paying the right price. Buying from a gallery is your best bet with more assurances. At a gallery you have the option to see before you buy and speak to the gallery without any obligation.
4. Long Term Investment
Just like any fine art, it is a long term investment. You won’t be seeing profits overnight. Go for something you would really like to add to your collection. Banksy’s value is guaranteed to increase over time.
5. Good Condition
Check the condition before purchasing. Scratches and tears can decrease your resale value. Inspect the artwork before committing to the purchase. Avoid online sellers, unless you are certain of its originality and trust the seller.
6. Get it Insured
For your peace of mind, get your Banksy insured against accidental damage, depreciation, theft and repair costs by a reputable insurance provider. The insurance provider will send over an art appraiser to evaluate the replacement value of your collection with suitable coverage.
After you’ve made the leap of faith and purchased your first Banksy, then comes the BIG Question: “How do I store it?”
Storing your Banksy properly is vital to protect and preserve the artwork. Rolling a mural can cause the ink and paint to stretch and crack, so it’s always better to store them flat or framed up with a quality frame. A Banksy art piece is considered to be of high value so, it’s best to use specialist art storage service, just like ours!
We at Cube Fine Art Services can help manage, handle, move and store your Banksy artwork. We have extensive experience in handling fine art for museums, galleries, international corporations and private collectors. Our climate controlled fine art storage is perfect for keeping your Banksy masterpiece away from sunlight, dust, heat and humidity.
Contact us or speak to our friendly customer service staff on 0800 027 2668 to know more about how you can get the most of your Banksy!