DIGARD AUCTION’s sale of Urban Contemporary Art on 1 June, Paris, reached an overall total of €1,567,213 (£1,131,890), proving the Urban Contemporary market is thriving.
A unique collection of over 150 works were auctioned, featuring rare pieces by international artists such as Banksy, Nick Walker, Shepard Fairey and Futura 2000.
The best-selling lot was Banksy’s Silent Majority, which fetched €625,399 (£451,682) (over it’s estimate of €400-600,000). At almost 10 metres long, this piece was spray-painted in 1998 by the artist, in collaboration with Inkie, on the side of a trailer during Glastonbury festival.
Marielle Digard, auctioneer and owner of DIGARD AUCTION, said, ‘The sale further proves the stability, the strong growth shown by the Urban Contemporary market.’
The UK’s leading Street Art expert, Mary McCarthy, International Partner of DIGARD AUCTION says “ Silent Majority is significant for a number of reasons, it was painted freehand rather than using stencils, it’s provenance, it’s sheer scale and the fact it’s one of the few outdoor pieces to achieve a Certificate of Authenticity from Pest Control.”
A world record was made for US born Futura 2000, famous for his graffiti on the New York Subway in the 1970’s, when his colourful Us Map from 1984 sold for over double the estimate of €20-25,000, at an astounding €53,592 (£38,706).
An world record was also achieved for Banksy’s Flying Copper (with wings) (2003), spray-painted on to cardboard, which sold for €185,020/£133,627 (est. €120-150,000).
Banksy’s fellow Bristolian Nick Walker’s Vandal V The Arc (2015), depicting a vandalised Arc de Triomphe using spray-paint and stencil on canvas, soared above the estimate of €6-8000 and sold for €14,036/£10,137.
DIGARD AUCTION’s success demonstrates their continued leading position within the international market for Urban Contemporary Art.