Banksy Graffiti Doubles Derelict Pub's Value

Posted by Alex in Arts & Crafts, Money & Finance, Travel & Places on November 1, 2008 at 1:45 pm


A derelict pub in Liverpool, England, just saw its value more than doubled because it has a Banksy graffiti:

A bizarre bidding frenzy has broken out over a derelict pub… because it is adorned with Britain’s most valuable piece of Banksy graffiti.

The Whitehouse pub is on the market for just £495,000, but art experts say the huge image of a rat holding a machine gun that covers the building could be worth £1 million.

Despite the housing market slump, with average prices in Liverpool falling by 16 per cent, estate agents Sutton Kersh have been inundated with offers above the asking price.

But the majority of bids have been from canny investors wanting to buy the graffiti at a bargain basement price.

Hey, let’s invite Banksy to graffiti on all those empty, foreclosed houses in the US!

Link

(Photo: Mercury Press Agency Ltd)


Previous post
this post? Please Email this               
Next post


FUN PRODUCTS FROM THE NEATORAMA SHOP:


COMMENT

10 comments to "Banksy Graffiti Doubles Derelict Pub's Value"

  1. Peeves
    November 1st, 2008 at 1:58 pm

    That's where we should have pumped the billions of dollars into..his art IS more guaranteed to be a good asset than the banks'crap.

  2. Dan Smith
    November 1st, 2008 at 3:24 pm

    Art depreciates in value if you saturate the market, Picasso would be a good exception...but I don't think Banksy is quite Picasso. I wonder how long Banksy art will be desired at all. It is fairly banal. (I hate on Banksy all the time)

    Also, I don't think graffiti can be used as a verb.

  3. Peeves
    November 1st, 2008 at 3:48 pm

    It's also not very (at all) exchangeable but it might be a good short term investment.

  4. Woogie
    November 1st, 2008 at 5:36 pm

    I love this way this fucking vandal is treated as some kind of hero.

  5. madgaijin
    November 2nd, 2008 at 10:47 am

    Bansky has done quite a bit of work in U.S., most noteably in New Orleans...

  6. ernest
    November 2nd, 2008 at 4:55 pm

    Banksy's stuff might be good art, but it's fueling a fire of graffiti retardation here in New Orleans. Graffiti sucks, the Grey Ghost sucks, I'm sick of my city getting marked up and blotted out all the time.
    What's so bad about paper?

  7. ernest
    November 2nd, 2008 at 5:13 pm

    there's all this banksy crap on ebay, that's not very edgy.

  8. Angstrom
    November 2nd, 2008 at 10:07 pm

    I've looked at that thing thousands of times, as it's on a busy route near me. I always thought it was a cat holding a marker pen! Well, it is a busy junction, that's my defense.

    BTW, to those who say he is some kind of menace to society - this piece was commissioned as part of Liverpool Biennial (2004) by the local bigwigs. IE, he was asked to do it.

  9. Gail Pink
    November 3rd, 2008 at 8:18 am

    Did anyone here see his "Village Pet Shop & Charcoal Grill" exhibit in NYC that just closed on 10/31? Because that was awesome.
    http://www.worleygig.com/2008/10/banksys-village-pet-shop-a-walk-on-th e-wild-side/

  10. Erin Z
    November 3rd, 2008 at 6:47 pm

    @Angstrom - It's not a cat but it IS a marker, the article has that part wrong wrong wrong!


PLEASE LEAVE A COMMENT

Neatorama Comment Policy
You don't have to register or login to comment, but it's easier if you do so. Comments aren't censored, but those that are abusive or off-topic may be edited or deleted.


Stay updated on the comments with Comment RSS