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Banksy is having (one other) second. Following the launch of his first official exhibition in 14 years on the Gallery of Trendy Artwork in Glasgow (Goma), Bonhams’ post-war and up to date artwork sale in London (29 June) will embrace the headline piece Congestion Cost (2004), a part of the Vandalized Oils sequence. The work has an estimate of £1.2m-£1.8m.
The oil, which ridicules the eco-friendly congestion cost launched in 2004 to stop automobiles coming into central London, was consigned by the UK clothier Paul Smith. The Turner-style portray was purchased by Smith in 2004 at Banksy’s Santa’s Ghetto exhibition.
“Banksy’s Vandalized Oils have constantly confirmed to be amongst essentially the most precious and extremely coveted works in his oeuvre, and Congestion Cost isn’t any exception,” says Ralph Taylor, Bonhams world head of post-war and up to date artwork, in an announcement.
The Vandalized Oils work, or Crude Oils works as they have been in any other case identified, have been proven in an notorious exhibition held in 2005. Few individuals have been keen to host the Crude Oils present—mainly as a result of the guerrilla avenue artist wished 200 dwell rats scurrying across the present. However the London collectors Roland and Jane Cowan have been unperturbed and provided Banksy the basement at 100 Westbourne Grove in west London.
The couple purchased Present Me the Monet (2005)—Banksy’s parody of Claude Monet’s Impressionist water lilies and the crowning piece of the exhibition—which bought for £7.6m (with charges) at Sotheby’s in 2020.
Smith, in the meantime, has kind for promoting Banksy items. In 2021, he consigned the work Sunflowers from Petrol Station to Christie’s New York. The Vandalized Oils work, estimated at $12m to $18m, bought for $14.5m (with charges).
Smith advised Christie’s on the time: “What initially attracted me to Banksy was his confidence and readability to speak one thing precisely as it’s. I used to be so impressed by his observations of what was taking place on the planet and that continues to be true of the work he’s doing at this time. His political statements are utterly on level, actually profound, actually courageous and constantly delivered in a contemporary method.”
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