The work of British artist Banksy Love is in the Air will be sold at the Sotheby’s auction in New York. As reported on Tuesday on the website of the auction house, for the first time a work of art can be purchased for cryptocurrency.
Kyiv. Ukraine. Ukraine Gate – May 5, 2021 – Ukraine Society and Culture
According to the organizers, the estimated value of Banksy’s painting is from 3 to 5 million dollars. In this case, the one who manages to make the highest bid at the auction on May 12, will be able to pay for the purchase of cryptocurrency Bitcoin or Ethereum. Bets, however, will still have to be made in dollar terms.
“As one of the most famous and provocative artists of the 21st century, whose street and studio works invariably expand borders and cause controversy around the world through a unique view of political and social issues, Banksy undermines the foundations of the art world,” said the organizers. According to them, “offering collectors the opportunity to buy Love is in the Air for cryptocurrency, Sotheby’s pays tribute” to the artist.
“This characteristic innovation, which opens the way to further use of cryptocurrency at Sotheby’s auctions, was a continuation of the auction house’s experiments with the use of new technologies <…>,” the press release reads. According to the organizers, the emergence of the cryptocurrency payment function “allows you to rethink and expand” the capabilities of the auction house.
The picture is a canvas measuring 90 by 90 cm, signed by the author. The oil painting depicts a protester throwing a bouquet of flowers. As described on Sotheby’s website, the canvas “reminds of injustice and inequality” and also “sends a signal of hope.” “Undoubtedly, this bold and declarative work helped Banksy to take a place in the history of art, securing for him a reputation as a creator ready to openly and publicly mark his position,” – say the organizers.
The artist still manages to keep his identity a secret: no one but his closest aides knows what he looks like and what his real name is. There are only a few photos and videos in which the Bristol graffiti artist invariably appears with his face closed.
Banksy’s graffiti, which raises issues of social inequality, government hypocrisy, or topical issues such as the COVID-19 pandemic, has brought him worldwide fame and is very popular.
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Source: Ukrgate