If you do the math from this story, you will find that the Banksy Graffiti Art painting is valued in the 500,000 pound range, or in US dollars that’s getting very close to a $750k price tag. The story doesn’t explain whether the property value would have gone up without the painting, so it’s a stretch to value Banksy’s Graffiti Art this way.
Seems like $750k is too much to pay for Banksy Graffiti Art, even if he is the Worlds most famous Graffiti. The art does clearly represent his style, and may not be too pricey in decades from now. The problem is that it’s on a wall of a pub. Something tells me that should bring it’s value down significantly. The new owner better hope property values in his neighborhood continue to go up.
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Banksy graffiti doubles derelict pub’s value
A former run-down pub in Liverpool has seen its market value soar after it was branded by a graffiti artist, thought to be enigmatic artist Banksy.
The derelict building has been adorned with a giant rat, while the outer walls of the pub have been scrawled in red lipstick.
Banksy has used images of vermin throughout his politically-motivated work, and this particular piece of ‘guerilla’ artwork has attracted the attention of collectors.
The Whitehouse pub was originally estimated by local estate agents to be worth some £495,000, but its value has now doubled to around £1 million, as art dealers scurry to get their hands on it.
Liverpool estate agents Sutton Kersh, who are overseeing the sale, have reportedly been inundated with offers from excited buyers looking for safe investment.
Earlier this year, the artist’s works defied the credit crisis with a sale fetching more than £350,000 at auction.
Despite his popularity, Banksy has zealously guarded his anonymity which has fuelled speculation about his real identity.
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