Clark, S. orcid.org/0000-0003-4090-6002 (2024) Evaluating the impact of the global COVID-19 pandemic on Banksy’s limited edition print market. SN Business & Economics, 4. 40. ISSN 2662-9399
Abstract
The global COVID-19 pandemic profoundly impacted almost all aspects of people’s lives. Economic disruptions were felt across various sectors, including the art market. This study analyses the market for the renowned niche street artist, Banksy, specifically focusing on his limited-edition prints. By examining auction price data, the aim is to identify whether a pandemic-induced bubble inflated the prices of these prints. Employing a random effects model, variations in the bubble’s extent across different print images are estimated. The findings provide evidence of a link between high print prices and the pandemic, further suggesting the presence of a bubble in this market. This bubble peaked in the second half of 2020 but had largely receded by mid-2023, with prices returning to roughly expected pre-pandemic levels. As hypothesised, certain print images, notably ‘Love is in the Air’, experienced more pronounced inflation compared to others.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © The Author(s) 2024. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. |
Keywords: | Street art; Banksy; Hedonic regression; Bubble; COVID-19 |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > School of Geography (Leeds) > Centre for Spatial Analysis & Policy (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 18 Mar 2024 18:17 |
Last Modified: | 18 Mar 2024 18:17 |
Status: | Published |
Publisher: | Springer |
Identification Number: | 10.1007/s43546-024-00638-1 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:210359 |