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.