Quote by Alan Philips

“The value of story—of creator reputation—was vividly demon- strated in a social experiment conducted by the street artist Banksy during a 2013 New York residency. This is an artist whose work has sold for as much as $1.87 million at auction. Banksy erected a street stall on a sidewalk bordering Central Park and had a vendor sell his prints for sixty dollars each. He then posted a video of his experi- ment. Footage from a hidden camera captures some of his most iconic images displayed on a table. Tourists and locals meander by. His first sale doesn’t come for hours. A woman buys two small works for her children, negotiating a fifty percent discount. Around four in the afternoon, a woman from New Zealand buys two more. A little over an hour later, a Chicago man who “just needs something for the walls,” buys four. With each sale, the vendor gives the buyer a hug or kiss. At 6 p.m., he closes the stall, having made $420. In June 2015, one of these stenciled prints, Love Is in the Air—an image of a masked protestor throwing a bouquet of flowers—sold for $249,000. How much of the value of Banksy’s art is tied up in his name, his global brand?”

Quote by Alan Philips