Owning a Banksy: The Good, The Bad, The Ugly

In Peckham Rye, two individuals were arrested after being caught on camera vandalizing property with graffiti, raising concerns about the implications of street art for homeowners and businesses. The artist, believed to be Banksy, reportedly views the fate of his subversive images as part of the creative process, despite the challenges they pose for property owners. Garry and Gokean Coutts highlighted the financial burden of protecting their property from vandalism, estimating costs at nearly £40,000 annually. The phenomenon of unexpected street art has gained attention, with recent installations including a goat at Kew Bridge and a gorilla at London Zoo. However, not all pieces have been well-received; a cat mural was removed shortly after its appearance, and a wolf design was stolen almost immediately. The value of Banksy's works can fluctuate dramatically, as evidenced by a drawing celebrating the NHS that sold for nearly $17 million, while a hula-hooping girl mural was sold for a six-figure sum after being removed from a Nottingham wall. Local authorities, such as the Royal Borough of Greenwich, have expressed disappointment over vandalism that defaces murals, which have attracted visitors and provided joy to the community. Efforts to protect these artworks, such as applying varnish or using plastic covers, often lead to further complications, including potential damage and condensation issues. In Ukraine, the government took proactive measures to safeguard Banksy's murals by installing impact-resistant glass and security cameras amid the ongoing conflict.