Art Market Overview: The rise of urban art

On 13 October 2020, by La Gazette Drouot

Artprice looked into the urban art market, which has been booming for around 10 years, successfully moving from the street to galleries and auction rooms.

 

In 2019, works by Kaws, Brian Donelly’s pseudonym, sold for $108 M at auction. During the same period, no fewer than 700 works by Shepard Fairey were sold at auction, constituting one of the world’s most intense markets. The urban art market’s four pillars are Basquiat—still no. 1—Kaws, Keith Haring and Banksy. In 2005, the year of Banksy’s first auction, one of his paintings on cardboard fetched $12,000. His record, over $12 M, was set in 2019.

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