Building With Banksy Mural Could – but wont – Fetch $30M at Auction
Posted By Mason Hayutin on Sep 5, 2022 in NATIONAL, PUBLIC SPACE, REAL ESTATE
Art lovers who want “Girl on a Swing” can bid for the century-old building in Los Angeles’ Fashion District that comes with it.
Bansky’s public art includes his “Girl on Swing.” The current property owner believes it should garner $30 mm at auction. If the sale was happening in 2021, where MEME stocks and Beeple co-existed, the estimate might be attainable. After Russia’s invasion, the continued migration from Los Angeles, the doubling of interest rates and the simple fact that separating the work from the building is a poor option, this publication believes the estimate is at least $15 mm off. The unique Banksy is not currently worth the hype to garner the eager $30 MM. Read for yourself on why we agree with Jeffrey Deitch.
Source: Building With Banksy Mural Could Fetch $30M at Auction
Author: Mason Hayutin
Founder, Editor and contributing writer, Mr. Mason Hayutin is recognized for his depth of experience and knowledge in technology, energy economics, real estate and the arts (fine and visual). Having worked with recognized world-class artists and their estates since 1997, Mason brings a wealth of practical experiences from installations, marketing, and private sales.
An active business advocate, he successfully released the fine art documentary film LUBIE LOVE in 2009 ahead of the global auto crisis - in addition to maintaining his tenure at GALLERY M INC. Hayutin holds a degree in Economics from Washington University in St. Louis. He is the founder of MASONmodern, a boutique real estate firm based in Denver, CO. You can read his insight here at The Art Quarterly as well as in regional and national publications.
