artnet Auctions Urban Art Sale Demonstrates Strong Demand for Urban and Street Art

NEW YORK and BERLIN -

artnet Auctions recent Urban Art Sale demonstrated the continued demand for urban and street art. Eighty-five artworks by 40 artists were sold in the online auction July 7-23. The sale traced the evolution of urban art from the 1970s to today featuring artworks from virtually every major Urban and Street artist including Banksy, CRASH (John Matos), Keith Haring, LA II, and Shepard Fairey.

Spirited Bidding for Original Works by American Graffiti Artists

Original artworks by American graffiti artists CRASH (John Matos) and LA II (Angel Ortiz) attracted spirited bidding, realizing sold prices well above their low estimates. Five works by CRASH found buyers, including an untitled 1983 work on paper which realized US$1,540 — 53% above the estimate of US$800-1,200. Two works by LA II from the 1980s sparked frenzied bidding. The first, a work on paper executed in black marker on a red acrylic background realized US$2,314 — 75% above the estimate of US$800-US$1,000. The second, a mixed media work in silver marker on a black background, sold for US$1,925 — 70% above the estimate of US$700-US$900.

Continued demand for Banksy and Shepard Fairey

The sale also showed continued demand for works by contemporary sensations Banksy and Shepard Fairey. Five signed Banksy prints found buyers, including Morons (Sepia), 2007 which realized US$7,700 against an estimate of US$7,000-9,000 and Jack & Jill (Police Kids), 2005 which sold for US$7,040 against an estimate of US$6,000-7,000. Works by Shepard Fairey also attracted fierce bidding with 15 lots sold. Among them, Rose Girl, 2008 realized US$1,458, 72% above the estimate of US$500-700 and Israel/Palestine, 2009 sold for US$990, 66% above the estimate of US$400-600.

Global Interest in Urban Art

The sale also demonstrated continued international interest in Urban Art. From July 7-23, artnet Auctions received over 45,000 daily unique visitors from over 100 countries including 37,000 first time visitors to the site. While the auction featured a number of works by American artists, only 50% of buyers in the sale came from North America. A full 50% of buyers came from 17 different countries in Asia, Europe, Latin America and the Middle East.

“We are delighted with the results of artnet’s Urban Art auction,” said Hans Neuendorf, CEO of artnet AG. “artnet Auctions reaches a large international audience with great curiosity and wide ranging interests. It is clear from this sale that collectors worldwide are embracing online auctions.”

Visit artnet Auctions at www.artnetonlineauctions.com.

About artnet:

artnet has been online since 1995 and is host to approximately 2,000,000 visitors each month. Through its Fine Art Price Database of over 3.8 million auction sales results and its Gallery Network of over 2,200 galleries worldwide, artnet is the leading online resource for the international art market. With the new Online Auctions, artnet has added a transaction platform to its successful information services.

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Sarah Bradley +1-212-497-9700 ext. 197 sbradley@artnet.com

Source: artnet Auctions

Sarah Bradley, +1-212-497-9700 ext. 197, sbradley at artnet.com