| SUMMER 2008 |
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The writing's on the wall 
The contemporary art market is thriving right now and urban art is its new hot collectable. It has crossed the street and found its way into auction rooms, galleries, museums, not to mention Brad and Angelina's.In February this year Bonhams held its first 'Urban Art Sale'. This marked the first time that urban art had been given a dedicated auction and over 99% of the works sold, with many selling significantly above their estimated sale price. Banksy's 'Laugh Now' was the most expensive piece in the auction reaching £228,000. He/she may well be a household name these days but what of the scene's other rising stars? Fellow Bristol-based artist Nick Walker's Moona Lisa (pictured) sold for £45,000, over 12 times its original estimated sale price. Nick Walker is something of a veteran of the street scene. Emerging from the 1980's Wild Bunch Bristol scene Walker cites hip hop music videos as his early influence. But it was in 1992 that Walker found his signature style: "I grew out of wanting to write my name and I began to combine stencils with writing in freehand style." he says. Nick is quick to disagree with the label 'urban artist'. "There are too many terms for this genre these days. I'm a spray can artist. I mean urban to me suggests music like jungle or breakbeat." But what's in a name? Bonhams uses 'urban', Banksy's dealer Lazarides Gallery prefers 'cult', the Tate Modern's new show is 'Street Art' and let's not forget the local authorities less affectionate term 'vandalism'. Whatever you call it, right now its attracting a diverse range of buyers from the traditional art collector to those who have never stepped foot inside a gallery or auction room. "The Urban Art Sale was very accessible. We attracted interest from people who would not normally come to a Bonhams auction." says Gareth Williams, Modern and Contemporary Art and Design specialist at Bonhams. Since the Bonhams sale and a sell out show in LA this year, Walker has been inundated with interest from new buyers. "After I returned to the UK, there were so many orders and sales to take care of, it was overwhelming. One person tried to buy everything but a lot of people have been supporting and collecting my work for some time, so I try to strike a balance and remain loyal." Still, Walker is not complaining, he describes himself as "quietly happy". He adds "It's always going to be a surprise when your work sells for twelve times its estimate. It's a good thing."
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