Banksy Hits Out At Street Art Auctions

Banksy's Window

The first auction dedicated to Urban Art has seen estimates shattered as works sold for more than £200,000.

Banksy's 'Laugh Now' was the most expensive piece in the Bonhams auction, reaching £228,000.

The painting features monkeys wearing sandwich boards which read 'Laugh now, but one day we'll be in charge.'

His Kate Moss screen print also fetched well over its original estimate of £20-30,000, eventually selling for £96,000.

Urban art could not have come further from its gritty street origins.

Banksy, Haring, and newcomer Cyclops all had pieces in the auction but that does not mean they will see a penny of the money raised.

Canny buyers who picked up originals years ago are now reaping the rewards.

Steve Wright, author of 'Banksy's Bristol', told Sky News Online the transition of art from the streets to the auction houses misses the point.

He said: "It's public art and expression.

"It's the most democratic art form there is and I don't think any of the artists would want to make it exclusive and costly."

Brad and Angelina allegedly spent £200,000 on a Banksy, while Christina Aguilera splashed out £25,000 for a few prints.

Butthe spray can crews who started out in the streets of Bristol could never have predicted it would end up like this.

In the Stokes Croft area of the city, street art continues to flourish and it is not about making money.

Chris Chalkey, chairman of the People's Republic of Stokes Croft, wants to make the whole area an outdoor gallery.

"It might be illegal, but it is expression and this is an amazing cultural centre for everyone," he said.

Along with Banksy, Bristol's graffiti heritage includes 3D, who went on to form Massive Attack, Inkie, and one of the original stencil artists Nick Walker.

Walker's 'Moona Lisa' reached £54,000 in the Bonhams sale after being valued at up to £5000.

Bonhams' urban art specialist Gareth Williams claims auctioning the art is a logical progression.

"It's accessible and iconic," he says. "People have seen it on the streets and responded to it.

"It's the market that disagrees with it staying on the streets. The art buying public want to own it."

It is unlikely Banksy would agree.

As he writes on his website: "I don't agree with auction houses selling street art - it's undemocratic, it glorifies greed and I never see any of the money."