Overvalued/Undervalued: The Frieze-Week Auctions

Undervalued
Consider: Banksy, the underground art star, is an idol of city boys and younger collectors itching for hipness, but no one knows his (or her) real name. The phantom sensation could even be some offshore corporation that has found the formula for churning out tough-as-nails stenciled graffiti and Pop-flavored tchotchkes.

For those flimsy reasons, chances are high that "David" (2006), a five-foot-high knockoff of Michelangelo’s masterpiece in fiberglass, enamel, and wax, and with the added accessory of a white bulletproof vest, will carve out a new record.

So far, Banksy’s secondary-market strength has been in paintings: "Space Girl and Bird," in spray paint on steel, hit a record $576,461 (£288,000) at Bonhams London last April—28 times higher than its low estimate.

“David” won’t accelerate to that crazy multiple, but so far the market hasn’t applied the brakes on this artist’s scintillating, yet still sophomoric, vision.



Banksy, "David" (2006)
Est. £120–150,000/$238,000–297,000
Lot 13, Contemporary Art Evening Auction, Sotheby's, October 12

Courtesy Sotheby's