'Banksy' works fail to sell
Posted
Five works thought to be by cult graffiti artist Banksy failed to sell at a weekend auction after doubts were raised about their authenticity.
On its website, auctioneer Lyon and Turnbull said that the five top lots by Banksy with a combined estimate of 200-275,000 pounds ($452-621,000) - called "street works" because they were removed from their original urban settings - went unsold.
It is unclear whether their failure to find buyers was a result of the dispute over their authenticity or reflected broader uncertainty in the contemporary art market caused by the financial crisis.
Lyon and Turnbull were unavailable for comment.
Before Saturday's London sale, the auctioneer said the five Banksy works on offer were genuine, even though the only authorised verification body had declined to confirm that they were by the hugely-successful British artist.
Pest Control said it would not approve any street pieces removed from their original settings, partly to crack down on fakes and partly to protect the original concept.
Banksy has made a name for himself painting stencilled satirical and political images in public spaces, always keeping his identity hidden.
The auction record for a Banksy is 288,000 pounds for Space Girl And Bird.
On its website, Pest Control said that since its creation in January, 89 street pieces and 137 screen prints attributed to Banksy have turned out to be fakes.
- Reuters
