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A London gallery sells Banksy's work for 1.6 million euros

The artist shows great successes open to the public this Thursday in zinc

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A London gallery sells Banksy's work for 1.6 million euros

Banksy's big hits exhibition at Gallery of London's zinc is not open to public until this Thursday. But first sales already show great interest in works of artist. VIP customers have been able to access show this Tuesday and have already bought three paintings of between 500,000 pounds — about 565,000 euros — and 1.5 million pounds — about 1.6 million euros — as reported by gallery owner Steve Lazarides , The Art Newspaper.

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Not all works exhibited on zinc are officially for sale. But Lazarides estimates that paintings such as Show Monet (2005) and Media at War (2006) are worth five million pounds — 5.6 million euros. Some of works have been created in samples of 25, such as Girl and Balloon (2003) and Flower Thrower (2003). Originally, gallery owner valued Girl and Balloon at 250 pounds each, but in March a work of that edition was sold for 344,750 pounds — about 389,000 euros —.

The highest price that someone has paid in an auction for Banksy's work is 970,000 pounds — one million euros — for a painting by artist Damien Hirst that street artist recorded. This work was sold in new York in 2008. The amount that is being bid for his works has increased in recent years. The head of contemporary art of British auction company Bonhams, Gareth Williams, has stated that people who previously bought Banksy's works grew between Grafittis, skates, and hip hop. Those of now, he holds, are collectors of contemporary art.

For him, Banksy's paintings market is "stronger than ever" thanks to works such as Stop and Search (2007) and Laugh Now (2003). The prices of works of street artist have increased, according to same newspaper, about 120%.

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