“The ascent of so-called street artists into the moneyed realms of the blue chip is not exactly a new phenomenon—it’s been nearly two years since KAWS skyrocketed to a new auction record of HK$116 million (US$14.8 million) with the sale of The Kaws Album (2005) at Sotheby’s Hong Kong, which was followed six months later by the record-breaking sale of Banksy’s Devolved Parliament (2009) for £9.8 million ($12.1 million). These two mononym artists could be seen as the loosely defined category’s twin princes, despite their stylistic differences—KAWS’s vibrant cartoon riffs and Banksy’s wry stencils are two of the most easily recognizable, not to mention consistently lucrative, styles in contemporary art. But as collectors the world over continue to be fascinated with ‘Companion’ figures and Girl With Balloon prints, the exact parameters of what constitutes ‘street art‘ remain nebulous. ...”
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