Author: Charlotte Bearn

Banksy breaks auction record with ‘Devolved Parliament’

This piece reached over £9 million at Sotheby's.

Banksy breaks auction record with ‘Devolved Parliament’ | Image

Combining dark humour with graffiti executed in a distinctive stencilling technique, Banksy’s satirical works of political and social commentary have made him one of the most notorious and sought-after street artists in the world.

His ability to condense society's most complicated political situations into just one, deceptively simple image that is easy to share in our social media age means every piece he releases has a viral effect. The appearance of a new Banksy street art piece has the capacity to impact any location at any given moment known as ‘The Banksy effect’.

With a limited number circulating since the early days of his career, his printed artwork is extremely rare. The hunger for his art was heightened since his infamous shredding stunt in 2018 when, ‘Girl With Balloon (2006)’ sold at Sotheby’s for £1 million before promptly shredding itself with a built-in mechanism within the frame in front of an aghast auction room. The prank only increased the value of the artwork which hangs in shreds in the Staatsgalerie museum in Stuttgart, Germany alongside Rembrant and Picasso.

This month, Banksy’s ‘Devolved Parliament’ broke his previous record as it was auctioned at Sotheby’s this month. The depiction of the House of Parliament overrun with chimpanzees smashed the £2m estimate, reaching a staggering £9.9 million after a 13-minute bidding battle. Banksy’s reaction; “Record Price for a Banksy painting set at auction tonight. Shame I still didn’t own it”.

In true maverick Banksy style, the latest surprise installation from the artist has popped up in Croydon town centre as a response to a greeting card company attempting to obtain legal rights to the name, Banksy. To prevent this, Banksy began selling his own trademarked merchandise in the shop named, ‘Gross Domestic Product’ which can only be viewed from the outside.

He explains the goods available are handmade using “existing or recycled materials wherever possible. Including the ideas.”

As one of the first galleries to invest in Banksy we are proud to have a selection of highly collectable Banksy prints available in our Brighton gallery. Contact our expert team if you are looking to invest in any of these artworks by Banksy – +44 (0)1273 724829

Banksy breaks auction record with ‘Devolved Parliament’ | Image'Napalm' by Banksy

Banksy breaks auction record with ‘Devolved Parliament’ | Image

Banksy breaks auction record with ‘Devolved Parliament’ | Image 'Gangsta Rat' by Banksy
Banksy breaks auction record with ‘Devolved Parliament’ | Image
'Very Little Helps' by Banksy

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Origin - Remix, 2020
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