Here is an interesting article published on the NY Times about Banksy, whose latest work was recently spotted in Manhatten, New York. Following an auction at Lyon & Turnbull, which left 5 pieces of the stenciler unsold and had to be authenticated. Please read on for a worth while read, providing a great insight into the situation of art at present.
“Five works by the elusive graffiti artist Banksy and other pieces by street artists failed to sell at an auction in London over the weekend, Bloomberg News reported. Only 74 of the 270 lots at Lyon & Turnbull’s sale found buyers. The poor sales resulted in part from Banksy’s refusal earlier in the week to authenticate five stencil and spray-paint works on the block. (Above, Elena Ratcheva of Lyon & Turnbull with one of the works.) Pest Control, a group set up this year to authenticate Banksy’s work, would not verify any of the street pieces because they were removed from their original settings. “Pest Control does not authenticate street pieces because Banksy prefers street work to remain in situ, and building owners tend to become irate when their doors go missing because of a stencil,” the group told BBC News. Ben Hanly, a contemporary art specialist at Lyon & Turnbull, said the works were genuine”.