Auction house Bonhams is getting increasingly closer to contemporary art and in particular, it is focusing its attention on Street Art. In a period when all the auction houses have a department dedicated to contemporary art, even this year Bonhams is going to try and buy up the market with the sale of 122 lots that will be auctioned on 23rd October at its New Bond Street venue in London. Works of contemporary art executed by a new wave of emerging artists, who most times offer fresh, sharp, politically engaging and stimulating pieces.
This sale comes after the success of Urban Art, held last February, and even for this second edition the London auction house is trying to pursue the results achieved previously. Indeed, the auction held in February achieved very good results, awakening the interest of a compact number of buyers, in a packed-out room of more than 500 people. The percentage of lots sold was 99%. An absolutely noteworthy goal in this sector. While the total result of the auction reached 1,243,100 pounds, equivalent to 1,665,000 euros.
The auction on 23rd October will present a number of artists inspired to street aesthetics, who use artistic means typically belonging to this culture, such as stickers, spray paints and posters. Among the authors present in the catalogue, there are the names of Banksy, Keith Haring, Antony Micallef, Adam Neate, Faile, Paul Insect, D*Face  and Blek Le Rat.
Bonhams’ Urban Art aims at catalysing the attention on the Street Art phenomenon and exploring its transition from being an underground phenomenon to a recognised movement. A form of art appreciated also by the greatest critics and that by now has gained ground in an impelling way on the market of traditional art.  Despite the subversive charge that is identified in many of the artists mentioned and their ironic challenge to traditional artistic circuits, the market is rendering admiration towards this art in the places that may seem the furthest from the origins of these works: the salesrooms of the main international auctions houses.
Urban Art is a movement that represents art made totally accessible, available for the whole public to be known universally. However, it is also an ephemeral form of art that often vanishes as fast as it appears. By restoring the works on canvas or on other supports suitable to preserve them, street artists create the possibility for these works to last in time without their vitality being compromised. Works that at the moment are gaining great interest from the economic-artistic system.
The increased interest in Urban Art has evolved during the last five years and Bonhams has contributed to this exploit, considering that it “has defended” artists like Banksy, in the period when they were strongly criticized. And the results were evident. Just think of the English artist just mentioned. In April 2007, the work entitled “Space Girl and Bird” was sold for 288,000 pounds, shockingly selling for twenty times its basic estimate. The same thing happened with “Self Portrait”, another work by Banksy. Six phone bidders tried to get this work and at the last offer it was bought for 198,000 pounds, five times more than its initial valuation.
According to Gareth William, Urban Art specialist for Bonhams: “Urban Art represents an important phenomenon at international level. We have created an auction that highlights this aspect with the presence of artists from the five continents. For us it is a unique chance to present some of the most well-established names of this artistic movement together with some emerging artists that have stirred interest but still have not conquered the recognition they deserve”.
Among the most interesting works that will be presented on 23rd October highlights include many pieces by English artist Banksy: “Police Car” and “Have a Nice Day” (estimate 30-50 thousand pounds), “Girl Holding Ice Cream Bomb” and “Lenin on Rollerskates” (estimate 25-35 thousand pounds), “Toxic Mary” (estimate at 80-120 thousand pounds), “Kate Moss” and “Alon and Somerset Constabulary” (estimate 50-70 thousand pounds), “Turf War” (estimate 50-80 thousand pounds), while “Tesco Value Tomato Soup” and  “Everytime I make Love to you, I think of Someone Else” (estimate 60-80 thousand pounds).
Besides Banksy’s works, there will be works by Adam Neate, such as “The Eternal Triangle”, auctioned with an estimate included between 35 and 45 thousand pounds, but also Nick Walker with “The Morning After (London Version)”, estimate 20-30 thousand pounds, Faile with “Berretta” which will be auctioned with an initial valuation of 25-35 thousand pounds and Bleck Le Rat with the work entitled “Man Who Walks Through Walls With a Sheep” (estimate 8-12 thousand pounds). With the economic crisis of recent times, we can only hope that Urban Art reaches exceptional results and receives continuous applauses during the sale like the last edition.  (translated by Giorgina Arcuri)