Banksy truly be considered the Robin Hood of the art market?
The scenario at Sotheby's auction house in London appeared so surreal that it might be regarded as an April Fool's joke. Shortly after the hammer had dropped to present the renowned artwork "Girl with Balloon" (2006) by the British artist Banksy, this spray painting portraying a young girl reaching for a red heart-shaped balloon started to detach from its sturdy wooden frame and appear, partially fragmented into upright vertical strips. Thus, a grinding mechanism was concealed within the frame. An alarm mechanism was activated to signal the occurrence of this unlikely incident, which disrupted the smoothly coordinated auction process... Both the administrators at Sotheby's and the general audience were taken aback; some comprehended and started to chuckle, while the stunning photographs rapidly spread worldwide.
The auction, conducted as a component of the sale of the modern art collection belonging to the deceased American benefactor David Teiger, achieved a total selling price of 1.2 million euros. The record for this enigmatic street art monarch, whose graffiti and paintings have been accumulating in progressively larger quantities over the past twelve years, remains unknown. The lack of knowledge about the character, including his face and identity, outside of his close friends, coworkers, and family members (and the frequent emergence of rumours that generate a buzz), unquestionably enhances the magnitude of his rating."It appears that we have just been banked." Banksy subsequently posted a video on his Instagram account elucidating that when he framed the artwork in 2006, the year David Teiger purchased it directly from the artist, he had incorporated blades linked to a compact electronic device within the frame, "as a precautionary measure in the event that the artwork went up for auction," he stated. A little time bomb... The Artsy website reports that a number of individuals belonging to the Banksy clan have secured allocations for this auction. We hypothesise that one of them diligently recorded the deterioration of the work, while another selectively activated it from a distance. Shortly thereafter, Alex Branczik, the European director of Sotheby's contemporary art department, initiated a now seminal “It appears that we have recently been banked.”
Undoubtedly, these few minutes will be permanently recorded in the history of the British auction room, as well as in the art market. On the social media platform Instagram, Banksy rendered a quotation ascribed to Picasso, "What a pleasure to destroy to start again", as "The impulse to destroy is also a creative impulse." Through his performance at Sotheby's, he reaffirms his determination to combat conjecture about his own artworks, employing a logic that is, to some extent, contrary to that of Damien Hirst. In 2008, the renowned British master of contemporary art circumvented his usual dealers, Gagosian and White Cube, by arranging a direct auction of his newly created artworks at Sotheby's London.
Can a troublemaker be overrated? While certain individuals are exclaiming brilliance or applauding a Dadaist gesture, others are already becoming irritated. Given the current state of the art market, which is characterized by its excessive, boundless, and colossal nature, the repercussions of this undertaking, intended as a kind of resistance against the modern art market, are somewhat more intricate. One could now lodge a critique of Banksy for embracing a vague and excessively ambiguous stance, or even question his ethical uprightness, the inherent excellence of his artworks, and his operational procedures. Certain market analysts and art critics have consistently concluded that Banksy is too valued and does not qualify as a major artist. They see him as a disruptive force who occasionally lacks consistency.
Despite being referred to as "self-destruction," the London incident does not include complete destruction but rather alteration of the canvas. The disparity is substantial. Firstly, the object should retain its original half-cut shape, or if that is not possible, it should be easily reconstructed by Sotheby's for its new buyer, even if it causes some disruption to the house. Secondly, it will acquire an extra iconic aspect and can be sold on the market at a much higher price. Regarding Banksy's overall valuation, it will undoubtedly assume a little more significance in the foreseeable future.
The artworks and graffiti created by Banksy, frequently executed using stencils, prominently showcase protest motifs and militant or political iconography. This is exemplified by the installation of a life-size inflatable doll depicting a Guantanamo detainee at Disneyland, California, in 2006, or the portrayal of a youngster crouched in front of a sewing machine to condemn child labor. Regarding efforts to mock the extravagant practices of the art market, the British artist, who is a supporter of the major exhibitions, is not indeed inexperienced. In 2013, for instance, in New York, a little shop on a street corner in Central Park sold small original canvases replicating his renowned stencils for $60. This transaction was intended to criticize the vulgarity of the art market. Nevertheless, it is questionable whether this is the agreed-upon amount during the negotiations with David Teiger for Girl with Balloon.
Banksy has embraced a Robin Hood approach to the art commerce, which is proving to have both ethical and creative implications. Further complexities and developments in the street art artist's illustrious career, which started with humble beginnings in Bristol, England, are bound to be revealed. Furthermore, it is possible that in the future we may ascertain that the imanonymous purchaser of this renowned damaged Girl with Balloon is, in fact, Banksy himself.
seen in Beaux Arts www.vwart.com
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