Tuesday, October 9, 2018

They Say Analysis... Causes The Death Of Comedy... So Too It Is, With Irony.

Even so, I can't help but marvel at the clever legal quandary created (clearly intentionally) by Banksy's latest performance art.

I've put this in a new post -- so as not to kill the fun of the original.

If it is true that the original buyer felt s/he could ignore Banksy's "no resale at auction" stipulation -- (since UK, EU and US law all make out a strong presumption against restrictions on title), and safely resell under those laws (as they did at Southeby's this last Friday) -- then Banksy out maneuvered the entire legal world. He imposed his will on the monied elite who more collect, trade and commoditize his art, than politely appreciate his works.

Moreover, Banksy -- in an irony of ironies -- has increased the value of the auctioned property (in the view of most reputable art collectors), by this last bit of delayed performance art. That increase in value will not inure to the benefit of the seller who violated Banksy's "no auction" stipulation. It will belong to the buyer, at auction (since it occured after the gavel fell!), under existing law.

Astonishing, from head to toe -- and Banksy's clever forethought -- on copious display here -- along with some very good karmic luck -- is very likely to make some new case law, in the field of fine art contracting! Delicious.


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