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First Ever American Street Art Auction @ Bonhams LA

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Published on Oct 24, 2012

In 2010, Los Angeles rocked the art world by hosting the first survey of street art at the Museum of Contemporary Art (MoCA) aptly titled, "Art in the Streets." Thus, legitimized the street artists and urban art. Legitimize it did, because we are about to feel the after shock of "Art in the Streets."

Auction house Bonhams & Butterfield in Los Angeles will be hosting its inaugural Urban Art Auction on October 29, 2012. According to Bonhams' press release this is the first type of auction held in America. Since 2008, Bonhams' London has been hosting a yearly Urban Art Auction, but due to the success of "Art in the Streets" and collector demand --specifically in California, Bonhams is testing the waters in Los Angeles.

The 82-lot auction includes heavy hitters such as: Banksy, Shepard Fairey, Blek le Rat, EINE, D*Face, and KAWS to name a few. There are several impressive pieces that are worth tracking such as: (lot #31) Los Angele's own Saber, "Blue and Green Abstract Flag," estimated at $10,000 - $15,000, (lot #61) Shepard Fairey's, "Panther Power," estimated at $60,000 - $80,000, and (lot #6) Banksy's, "Gangsta Rat," estimated at $100,000 - $150,000.

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