Why is Banksy such a commodity and why do rich people like to buy art so much? The main reason is that it is an investment that will draw in more money.
A simple $200 investment into a piece of street art can draw in millions in the future. Even if the artwork is sold at a high price, it is now either the cool thing to do, or because the amount of profit that can be earned later on. Banksy has made a lot of people rich. It can be compared to cryptocurrency. “‘Satoshi’ gave the world Bitcoin. ‘Banksy’ gave the world his distinctive form of vandalism” (bullionvault 1). Original Banksy’s have sold for millions but Banksy’s artwork is very easily reproduced too. If the “other”, that is, anyone but Banksy reproduces and sells his artwork, they make a profit while Banksy unfortunately does not.
Banksy’s art in one single word represents rebellion. He speaks against social injustice including wealth inequality, racial discrimination, terrorism, labor abuse, and police brutality. What he does is offer unique social critique and rebel against the majority thought. He represents the counterculture which may produce protests, debates, concerts, social media campaigns, and concerts (Harzman 2). What Banksy does not approve of however is commercialization, branding, or mass production and sale of his work. He is against corporate and commodity culture.
Unfortunately for him, he is commercially successful, and his artwork has been sold in auctions, this makes him an antihero in many ways. In fact, Banksy is perhaps an un-brand. If you have seen the girl with a balloon, you know that it is an art piece which has obtained a high degree of fame and iconic registry – that is primarily because of the recent stunt where the balloon girl was shredded at an auction. Banksy never wanted his work to be ripped off walls and commodified and seen as a piece of sales meat, but that is exactly what happened.This stunt was a significant attempt to stick it to the man. “Ripping the work off the street and selling it is legal but morally questionable in the eyes of Banksy”(Hansen).