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You must have noticed that as prices rise on this mad planet of ours, values descend. I keep reading things that convince me the art world has gone completely bonkers. The other day, the record producer David Geffen sold a Jackson Pollock for $140m. Yes, $140m, or £73m. For a painting. I admire Jackson Pollock as much as any man, but in a world where a qualified nurse in Yorkshire earns £17,900 per year, no painting, whoever it is by, should ever cost £73m. The amount of money being spent on art today has passed through the realms of mere obscenity and entered the previously uncharted universe of cosmic insanity.
To my eyes, the least likely participant in this insane orgy of acquisition is the graffiti artist Banksy. How Banksy, this rebellious Robin Hood of the spray can, the rebel from Bristol who started smearing graffiti onto passing trains at the age of 14, managed to get himself sucked into the mad whirlpool of contemporary art prices is possibly the weirdest art mystery of the 21st century so far. In his own terminology, Banksy is supposed to be a guerrilla artist. His shtick is supposed to be dodging the police and illegally depositing amusing examples of graffitied agitpop around the city at night. He’s an outlaw, a system-smasher, a thorn in the Establishment’s side, the painting Pimpernel.
Yet at the London auctions last month, a Banksy spray-painting called Bombing Middle England went for £102,000, a new auction record for him. The next day, another piece went for £96,000. In LA a couple of months ago, Angelina Jolie spent £200,000 or so on his work. Brad Pitt collects him too. As do Keanu Reeves and Jude Law.
All this is deeply confusing, of course, not just in the Middle England that Banksy is supposed to be bombing, but out here, too, in the unaligned sections of the thinking art world. Banksy’s progress has now reached that dangerous and fascinating point where separating the facts about him from the fictions is becoming really difficult. There was a story in the papers recently claiming that Prince Harry had commissioned a Banksy to give to Chelsy as a token of his love. According to the artist’s website, this is untrue. Which is a relief. But did I think it was impossible the moment I read it? I certainly did not.
Which is why I ventured into Knightsbridge last week, turned left past Harrod’s, went down Pont Street, past Louis Vuitton, past Hermãs, veered right onto Walton Street, past the Meissen porcelain shop, till I reached the Andipa Gallery, the only gallery in London designed in the Spanish pueblo style, where, believe it or not, they currently have a Banksy show. Six months ago, this would have been shocking. Not any more.
The type of art Banksy makes — agitpop — is probably the grooviest sector of the art market right now. Agitpop is protest art with a smile on its face. Red Nose rebellion. Comic Belief. A typical Banksy will show two furtive squaddies in combat gear painting a peace sign on a wall in Iraq. Make ’em smile and you’ll make ’em think, seems to be the strategy of the agitpopster. And, in fiscal terms at least, it’s working terribly well.
The Andipa Gallery is offering lots of Banksys for up to £70,000 a picture. That’s what is being asked for a stencil of a protester throwing flowers at the police, produced in an edition of 25. Laugh Now and Keep It Real, two spray paintings of monkeys holding up signs, are both on sale for £50,000. Kids on Guns is also from an edition of 25, and costs £45,000. You do the maths.
But just in case Banksy sues me — the richer our artists become, the more litigious they seem to grow — I should immediately point out that he himself is not responsible for the Andipa exhibition, or its image-ruining decor, or its price scales. When he found out I was reviewing the show, he e-mailed me this message: “If I was conspiracy-minded, I’d say this was a plot to destroy my last shred of credibility. But then I do a good enough job of that myself.”
My guess is that the gallery started vacuuming up his prints when his prices began rocketing and is now selling them on at a handy profit, as galleries do. While I was there, I overheard a fascinating conversation on this very topic between the chap behind the desk and a potential Banksy buyer. The gallery guy was adamant that it is wrong to think of the huge sums being charged for Banksy as unreasonable, because all that is happening is what he called “positive catchup”. Come again? “Banksy’s prices are being pushed up at this accelerated rate in order to catch up to where they should really be in the market.” So the real mystery of Banksy is not why his work costs so much today, but why it cost so little yesterday, when nobody had heard of him. I love it.
The truth here is that everyone is squirming. Banksy is squirming because his work has been robbed of its rightful meaning by its abrupt transformation into chic gallery fodder. The gallery is squirming because, although it might enjoy shifting all these pictures, no amount of gallery insouciance can disguise the fact that among the enemies being attacked by Banksy is the gallery system itself.
His chief achievement, and I believe it to be a mammoth one, was finding a way to operate so successfully outside the art world. That striking image that went up overnight on the walls of the Roundhouse, of the black maid lifting up a wall and sweeping stuff under the carpet, wasn’t just a witty encapsulation of the Aids situation in Africa, it was also a terrific piece of urban design that used the city as its gallery.
Banksy fans will recognise most of the images here from their subversive original appearance on the streets or in those interestingly makeshift shows he mounts. There’s Queen Victoria sitting on a lap-dancer’s head. There’s Mickey Mouse and Ronald McDonald leading the napalmed Vietnamese girl on a grim victory parade. There’s the girl clutching the nuclear missile. These are images that look very right in a Banksy context. And very wrong in here.
Speaking of Mickey Mouse, I’ve recently been making a film about the pioneering Edwardian artist Walter Sickert, and one of the sequences was supposed to be set at the Lyceum theatre, off the Strand, where Sickert worked briefly as an actor under the theatre’s founder, Sir Henry Irving. As soon as we began filming, two officials with clipboards came out to tell us we weren’t allowed to feature the front of the building because Disney’s The Lion King was playing there, and Disney did not allow any filming of the theatre without its permission. I explained that we were making a film about Sickert’s work with Irving, and that the last thing we wanted to feature was The Lion King. Besides, we were on the other side of the road. But the clipboardoffi-cials were adamant. Our right to film on the streets of London was outweighed here by Disney’s right to stop us doing so.
I mention this now in my investigation of the confusion between corporate truths and artistic ones that is currently continuing across the art world because I see that the Disney corporation has expanded its reach still further by commissioning two Brazilian artists called the Campana Brothers to make a set of chairs decorated with Disney characters that has gone on show at the Albion gallery.
The chairs are ghastly. One is made entirely of scores of stuffed Mickey Mouses writhing like a tin of maggots. Another mixes writhing Mickeys with writhing Minnies, and the third features Pluto as well. They all look really stupid. Yet they are on sale for between £70,000 and £130,000 each. Now, tell me if I’m wrong, but isn’t the idea of asking £130,000 for a chair made of stuffed Disney toys even madder than paying £73m for a Pollock? Or am I losing it too?
Banksy at the Andipa Gallery, SW3, until March 24; Cartoon Chairs at Albion, SW11, until March 19

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Banksy and good graffiti artists in general are a great thing in my opinion. I would much rather see a colourful piece of art than just a bland wall. Good graffiti gives real character to a place. The only griffiti councils should remove are the stupid things little kids write like "WaYnE WoZ eRe."
Jack, Bristol, UK
I find the fact that Banksy's work sells for huge prices is irrelevent. He is still the same artist, pulling the same stunts. It is not that Banksy has turned around and put a price tag on his work it is that people with too much money have decided they like it. Does this make the work less relevent to those of us who cannot afford it? No, it does not.
Julian, Melbourne, Australia
Paying hundreds of thousands of pounds for art is insane - but then most of everything is completely out of reach of most people and therefore irrelevant. It is impossible to own anything that we really need - like a house - without worrying about how possible it is to buy something by Banksy or something ridiculous commissioned by Disney Corp. in a gallery. Am I alone in feeling entirely alienated by the way the world has outpriced a good deal of the population from something that should be so simple as buying a decent cup of coffee to owning one's own tiny, inconsequential patch of ground?
Kylie Johnston, Brighton,
Its called supply and demand. Banksy has wit and style not seen in British art for a long time. Since most of British culture is now just a bland wall of bitter criticism - like the article above - people are going to pay through the nose for anything with a creative sense of humour.
Charlie, LA,
In my opinion, Banksy has gone full circle...He came from a provincial town and used graffiti as a means to express himself. The stigma attached to the spray can gave him credibility as well as an alter ego. By selling his art and becoming the new Soulages, he seems to have lost his anonymity and thus his spark. Banksy was an underground artist who is now part of the posh pad's furniture.
Natacha Cullinan, London,
Is it me but I find the whole Banksy argument quite perverse. Bristol Council is apparently considering a civil action against the clean up crew who removed a piece of his art. Fact graffitti is a crime, it costs british society and taxpayers millions of pounds per year to police and clean up. And yet here we are applauding the work of Banksy - a criminal who has not yet been caught. What sort of message is that sending to all those budding graffitti artists out there - its ok and oh by the way you can earn a mint. I believe efforts should be made to find who the real Banksy is and bring him to justice. Under the Proceeds of Crime Act all his wealth earned from illegal acts could then be confiscated - that would send a real message - graffitti is vandalism and is a crime, plain and simple.
Michael, Uckfield,
I was having a discussion about the decline in credibility of graffiti artists' work yesterday, and it seems to me that the artworld has robbed them of all their power by endorsing their work and using it to make revolting profit. So I think Walter's right - the galleries are protecting themselves, but at what cost to creativity?
Becca, Newcastle Upon Tyne, UK
Modern art is so far up its own artists it thinks it's important and means something,. Duh! wrong.
d h rowlands, cardiff,
There is a strange dichotomy here whereby on the one hand Banksy has lost credibility and on the other he is an artist who has the right to earn a living. It is a difficult dilemma to resolve. I admire his work but now feel that it has lost some of its political message- although without the publicity the message would have never got out to a wider audience . The thought tho that Bristol is not clearing up Banksy graffiti because it may be valuable is quite revolting. Maybe Banksy should sell by invitation only instead of allowing some arsehole gallery owner/counsel to get fat on his respect.
Lea, Birmingham, UK
You've nailed it Waldemar. Maybe the Pollock is worth something but the Mickey chairs are a joke. And the galleries will always appropriate someone like Banksy. It's how they protect themselves.
Walter King, Columbus, OH