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Banksy’s “Crude Oil” Set for Auction with Charitable Contributions
A striking piece by renowned street artist Banksy, titled “Crude Oil (Vettriano),” is slated for auction, with potential sales reaching up to 5 million pounds (approximately $6.3 million). A portion of the proceeds will aid those affected by the recent wildfires in Los Angeles.
Sotheby’s, the auction house handling the sale, announced on Tuesday that the artwork will be auctioned in London on March 4. This piece is part of the collection owned by Mark Hoppus, the bassist of the California-based punk band Blink-182. Hoppus describes Banksy as a kindred spirit, inspired by the artist’s unique blend of subversion, humor, and intelligence.
“I feel strongly that street art and punk rock share a fundamental core,” Hoppus expressed. “Both are created by those who feel marginalized and overlooked, allowing them to forge their own realities. It’s about the spirit of creation. My love for art, particularly street art, blossomed once I recognized this connection.”
“Crude Oil (Vettriano)” derives from a series of works that Banksy produced in 2005, during which he provided a clever critique of famous artworks. This series includes playful interpretations of pieces such as Vincent van Gogh’s “Sunflowers” and Edward Hopper’s “Nighthawks.” Banksy aimed to highlight that “the actual harm inflicted upon our environment originates not from graffiti artists or rowdy youths but from large corporations.”
The piece up for auction is inspired by Jack Vettriano’s 1992 masterpiece “The Singing Butler,” which depicts a couple in formal attire dancing on a beach while being sheltered by attendants holding umbrellas. In a profound twist, Banksy has introduced a sinking oil tanker and two figures transporting a barrel filled with toxic waste into the scene.
“From the moment we encountered this painting, we were enamored,” Hoppus remarked, recalling his purchase of the artwork with his wife Skye in 2011. “It is unmistakably a Banksy but also has its own distinct character.” The painting has adorned their residences in London and Los Angeles since that time.
Hoppus plans to allocate the proceeds from the auction towards acquiring works by emerging artists, while also donating to various charities, including the California Fire Foundation, Children’s Hospital Los Angeles, and Cedars Sinai Hematology Oncology Research.
Banksy, who has maintained an air of mystery around his true identity, began his career in the streets of Bristol, England. Over the years, he has gained global recognition as an influential artist, known for his thought-provoking and often satirical pieces. His portfolio includes iconic images such as two police officers sharing a kiss, riot police adorned with cheerful yellow smiley faces, and a chimpanzee brandishing a sign that reads, “Laugh now, but one day I’ll be in charge.”
Many of Banksy’s works have fetched astonishing sums at auction, with a record-setting sale of nearly 18.6 million pounds ($25.4 million at the time) achieved in October 2021 for “Love is in the Bin,” a work that famously partially self-destructed during an earlier auction due to a hidden shredder within its frame.
The painting “Crude Oil (Vettriano)” will be on display at Sotheby’s in New York until Thursday and will move to London, where it will be showcased from February 26 to March 4.
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www.cbsnews.com