Fri. Jan 15th, 2021

See the big picture: the art of making money from upcoming artists

With a Banksy selling for close on £10m, is there now a knock-on effect for investors?

It is the artwork for our times. A four-metre-wide Banksy depicting MPs in the House of Commons as chimpanzees set a record for the artist when it sold for close to £10m at Sotheby’s in London after just 13 minutes of bidding.

The £9,879,500 winning bid was notable not just for its size but by how much it exceeded the pre-auction expectations of between £1.5m and £2m. It also, no doubt, prompted anyone who had bought an early Banksy to raise their eyebrows about what value the picture on their wall might now hold.

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