Just got home from tonight’s Bonhams Urban Art Auction. Results can be found here.

My immediate reactions can be found on the Vandalog Twitter.

In short, most work didn’t sell or was at the low end of the estimate (Banksy’s “Happy Copper” went for just above half the low estimate). The room was packed, but packed full of non-bidders interested in just seeing the results. The atmosphere was not depressing or so, but it was certainly a buyer’s market.

Surprise of the evening was the canvas by RESO which went for over £5000 (including buyer’s premium). I’ve never heard of him. To compare, two pretty good Supine pieces went unsold for much less. Anybody know about this RESO guy?

Spent some time today checking out the catolog for the February 24th urban art auction at Bonhams in London. A few people have noted the extremely high number of Banksy lots (22 of 78) and dismissed this auction, but I’ve found a few potential deals to be had. If you’ve got the money to spend and you can weed through the crap, people are looking to sell some really nice work. Here’s what I’ve found:

1. Banksy – Kate Moss (series of 6)
Estimate: £100,000 – 150,000

There was a time when just one of these 6 could go for £100,000. Perhaps Banksy’s most sought after print. The winner of this auction will be a very lucky man/woman in a decade. Read the rest of this entry »