Digard Paris Urban Contemporary Art Auction Analysis

June 3, 2015

While Christie’s Honk Kong was busy with its Asian Contemporary Art Day auction and Chinese Ink Auction, on the other side of the globe, more precisely in Paris, Digard held Urban Contemporary Art Auction. It would be fair to say that this auction was a successful one considering the amount of money gathered, which is $1.376.984, but truth to be told, more than a third of total amount was a merit of the lot 81, a Banksy and Inkie collaboration sold for a staggering price of $556.085. Still, the highest hammer high difference was seen in the sale of lot 48 – Revs’ Book #1 from 1993 with 310.1 percent.

Banksy And Inkie Collaboration At Glastonbury

Silent Majority was painted in 1998 at Glastonbury Festival. Current owners of the trailer, who have provided a full note that will accompany the work at auction, stated that the work was created in three days. They are long term travelers in England, who allowed Banksy to paint on their home. He approached to them during the festival, and asked them to use the back side of their trailer as a large blank canvas. Owners underline the significance of the context in which Silent Majority was created. Firstly, the work was created during Glastonbury Festival. Secondly, and more important, the work depicts the era of mid 1990s, when the free party movement was very popular. Silent Majority actually depicts the spirit of the last rave and hip-hop scene of the time. The work shows the figures, dressed like soldiers, storming a site with a speaker in an inflatable raft, with the powerful words: It’s better not to rely too much on silent majorities… for silence is a fragile thing…one loud noise and it’s gone. The work is signed by Banksy and Inkie. At that time, Inkie was a seminal graffiti artist and, according to owners, was quite a big name in the rave scene doing artwork for free parties, raves, Amsterdam clubs. The work’s style is definitely Old Skool Graffiti, created free handed with very little use of stencils. Silent Majority indeed references to a period of free parties, artistic interventions in public space, rave parties and festivals. The trailer has been a home of the owners for years (before Banksy paint it and after that), and it has been seen around the United Kingdom at various events, festivals and free parties.

The Overview of Digard Paris Urban Contemporary Art Auction

Out of 166 lots offered at Digard Paris Urban Contemporary Art Auction, 119 were sold, or 71.7 percent of the lots. Twenty-nine lots, or 24.4 percent, were sold over high estimate as opposed to 23 lots, or 19.3 percent, sold under low estimate. In range of estimated values more than half of the lots were sold – 67. The highest hammer price was seen in the sale of Banksy and Inkie collaboration piece Silent Majority for a staggering $556.085. Average hammer price of the auction has settled at $11.571 and median hammer was at $3.337 (this means that the same number of lots were sold for more than $3.337 and for less than $3.337). The difference between average hammer price and median was -71.2 percent, which means that a lot more of artwork went for the price smaller than $3.337. Beside Banksy and Inkie scoring a surreal hammer price, we have seen a couple of more nice digits: Banksy’s Flying Copper for $161.265 and US Map from Futura 2000 for $46.711.

Scroll down to see the best and the worst performing lots of Digard Paris Urban Contemporary Art Auction.

digard paris auction analysis
Seen - Bubble Painting, 2013, (lot 109) Estimated from $2.780 to $3.893 and sold for a bit disappointing 2.224, staying under the low estimate for 20 percent.

digard paris auction analysis
Left: Shepard Fairey - Universal Parenthood HPM, 2013, (lot 84) Estimated from $4.449 to $6.673 and sold for $10.454 with a hammer high estimate difference of 56.7 percent. / Right: JonOne - Composition, 2013, (lot 145) Estimated from $10.010 to $11.122 and sold for $8.341.

digard paris auction analysis
Left: Jef Aerosol - Sid Vicious, 2012, (lot 133) Estimated from $890 to $1.335. Sold for 2.224. / Right: Speedy Graphito - Color, 2014, (lot 100) Estimated from $1.112 to $1.668 and sold for $2.780.

digard paris auction analysis
Left: Inkie - Lady In The Woods, 2015, (lot 115) Estimated from $2.224 to $2.780 and sold for $4.671. / Right: Levalet - Mise en boite, 2013, (lot 136) Estimated from $1.335 to $1.779. Had its hammer price at $2.669.

digard paris auction analysis
Left: Banksy - Stop And Search, 2007, (lot 12) Estimated from $6.673 to $8.897. Sold for 19.463 achieving hammer high estimate difference of 118.8 percent. / Right: C215 - Dreaming, 2008, (lot 122) Estimated from $3.337 to $5.561, while the hammer price was at $2.780.

digard paris auction analysis
Left: Banksy - Flying Copper, 2003, (lot 80) Estimated from $113.460 to $166.826 and with hammer price of $161.265 this piece settled as the second highest bid of the auction. / Right: Biserama - Urban Mandama, 2013, (lot 87) Estimated from $5.561 to $8.897. Sold for $4.449.

digard paris auction analysis
FUTURA 2000 - US Map, 1984, (lot 53) Estimated from $22.243 to $27.804. The final price of this lot was settled at $46.711 and topped the high estimated value for 68 percent.

digard paris auction analysis
COPE2 - Train Miniature, 2015, (lot 41) Estimated from $556 to $890. Had its hammer price at $2.669 and achieved hammer high estimate difference of 199.9 percent.

digard paris auction analysis
COPE2 - MTH Conley Island D Model Train, 2012, (lot 42) Estimated from $278 to $556 and sold for $834 with a hammer high estimate difference of 50 percent.

digard paris auction analysis
Comet - Train, (lot 45) Estimated from $1.112 to $2.224 and sold for only $890, 20 percent lower than the low estimate.

digard paris auction analysis
C215 - Riot Scene, 2008, (lot 148) Estimated from $3.337 to $5.561 with a hammer price of 2.780.

digard paris auction analysis
Banksy and Inkie - Silent Majority, 1998, (lot 81) Estimated from $444.868 to $667.302. With the final price of $556.085 this lot came into the spotlight as the most expensive artwork of this auction.

Digard Paris Urban Contemporary Art Auction In Details

Please, scroll down to find out more about each lot that was auctioned at Digard Paris Urban Contemporary Art Auction – find out their estimated values, hammer prices and find out which lots weren’t sold.

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All images are courtesy of Digard Paris.

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