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“Soup Can” by Banksy: 6 reasons to collect it


Eduard Steimle - 11th September 2019 - 0 comments

Are you interested in collecting “Soup Can” by Banksy but you are not sure about it? Then this article is for you.

Banksy’s Popularity

Banksy is the kind of artist who needs no introduction. The anonymous British graffiti artist is internationally known for his anti-authoritarian art, often done in public places but also for his auction records (£1.5M at Sotheby’s in 2008) and self-destructing artwork during a live auction (Girl with the Ballon). 
Banksy’s artworks are characterized by striking images, often combined with slogans. His work often engages political themes, satirically critiquing war, capitalism, hypocrisy, and greed. Because of this rebel figure, people love him/her.
On top of this, Banksy is a world-renowned mystery man. He has risen through the ranks to become one of the world’s greatest street artists partly by creating an urgency to understand his character. This tactic carries one’s curiosity to explore a completely new perspective or idea, leaving his artistic creations to inspire beginning and advanced artists. Banksy is often credited to have made street art recognizable and respected by the art market itself.
Banksy is also one of the most followed artists on social media. With 6.5 million followers, his/her account has more followers than one of the most important institutions for contemporary art: The MoMA (4.7m followers).

Banksy's Instagram Followers
Banksy’s Instagram Follower Growth April 2018- September 2019

High Liquidity

Top 20 Contemporary artists by number of sold lots (2017/2018)
The Contemporary Art Market Report 2018 by Artprice

Banksy was the second most sold contemporary artist in 2017-2018 by sold lots. Nearly 500 artworks or prints have been sold in a year. That’s more than 1.3 artworks per day on average, and only counting the sales at auction.
From an investment point of view, this is great news, especially if prices are increasing too. Traditionally speaking, the art market is very illiquid, meaning that reselling an artwork sometimes takes years. High liquidity instead means that it is easier to find a buyer for a Banksy’s artwork in case a collector decides to sell his/her artwork.

Attention from Major Auction Houses

Banksy’s popularity is constantly growing. Auction Houses, therefore, ride the wave accordingly.
Only in Septemeber 2019, 3 major auction houses will have Banksy dedicated auctions in London.
Sotheby’s is launching a Banksy online auction on the 6th of September with 43 lots.
Christie’s launches its dedicated Banksy Auction on the 11th of September with 30 lots.
Bonhams instead will launch the auction of the Banksy’s Truck “Turbo Zone Truck (Laugh now but one day we’ll be in charge) on the 14th of September for an estimated £1’000’000 – £1’500’000.

Banksy’s “Girl with Balloon” self-destructing during Sotheby’s auction in 2018.

“Soup Can” Scarcity

“Soup Can” by Banksy on sale on Feral Horses is a signed & dated artist proof, edition 7/10. Usually, for each artwork, Banksy has around 150-180 signed prints. Artist Proofs are therefore much harder to find, especially if they are signed and numbered.
On top of that, Banksy is not releasing any new prints, not even for new artworks. As demand for Banksy’s artwork is increasing, the supply is becoming more and more scarce, increasing the prices accordingly.

“Soup Can” Price Increase

"Soup Can" past auction results

Prices for Banksy’s artworks and prints are constantly increasing. Signed Prints of “Soup Can” in 2012 were selling for £5250. In 2018, signed prints of the same series were selling for £31900. That’s a 508% Return on Investment.
For the period between 2016-2018, signed prints of “Soup Can” had a price increase of 104%.

“Soup Can”, the critical message

Not only Banksy’s artworks are beautiful because of their simplicity, but especially because of the message they carry.
“Soup Can” by Banksy is no different.
Referencing one of the true paradigms of twentieth-century art, Tesco Value Soup Can presents a pastiche of Andy Warhol’s iconic Campbell’s Soup Can paintings. In 1962 Warhol took the universally treasured and quintessentially American design of an inexpensive consumer product and turned it into a paragon of high art; 40 years later, Banksy adapted Warhol’s all-American democratic symbol and made it relevant to his/her contemporary moment. Banksy’s Tesco Value “Soup Can” draws on a more affordable version of Warhol’s beloved Campbell’s soup; marketed as part of the UK supermarket’s Value range, this product utterly lacks the stylish branding that made Campbell’s soup a symbol of the booming post-war economy in the USA. By choosing Tesco supermarkets’ own-brand of tomato soup and its basic no-bones packaging – a stark contrast to the comparative luxury of Campbell’s design classic – Banksy’s painting speaks to a bread-line culture of austerity and welfare. Herein, Banksy transforms an icon of post-war American affluence into a pithy pedestrian emblem of twenty-first-century cost-cutting.” Extract of Sotheby’s Catalogue Note (2017)

Conclusion

“Soup Can” by Banksy is a simple, but yet beautiful artwork. As most of Banksy’s artworks, it carries a strong, critical message.
The popularity of Banksy is continuing to grow and, as demand is increasing and supply is not, prices are rising accordingly. On top of this, there is high liquidity on the secondary market for Banksy’s artworks, meaning that is easy for collectors to sell if they wish too.
We understand that collecting should be primarily based on beauty and taste, but we also know that considering the financial aspect of any artwork is fundamental for any collector. And this is why we do believe that Banksy’s artworks are, today, great pieces to collect.

Click here to become a Banksy co-owner on Feral Horses

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