This is a brief excerpt from PetaPixel
Who owns public art illegally placed onto private buildings? That’s a question that came up recently after a famous Banksy work in London was ripped out of the side of a building, shipped across the Atlantic, and put up for auction with an estimated final price of over half a million dollars.The piece in question (shown above) is titled “Slave Labour,” and first appeared on the side of a discount store in North London in May 2012. CNN reports that many residents grew quite fond of the piece and the attention it gave the neighborhood.
Unfortunately for those residents, the piece was abruptly cut out of the wall last week. News soon emerged that the owner of the building had ordered the extraction in order to “preserve” the work.
Well, “preserve” is apparently synonymous with “profit off” in the owner’s mind: “Slave Labour” has turned up in the catalog of an auction house in Miami, and will be sold this Saturday in the “Modern, Contemporary and Street Art” collection for an estimated $500,000 to $700,000.
Needless to say, the locals who once enjoyed the piece aren’t very happy about this development. The case has also triggered a discussion regarding …
By: Michael Zhang
via planet5D pinterest news http://pins.planet5d.com/who-owns-illegal-public-street-art-found-on-private-buildings/
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