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Banksy and Warhol: They're a Steal

Banksy Warhol_2

With prices for street art prankster Banksy through the roof, many of his actual "street paintings" have become targets for thieves eager to cash in. So it wasn't a surprise when a cleaner at Jacaranda Developments discovered a group of men posing as workmen trying to pry a rusty metal door off one of the buildings. On the door (above left) was a well-known Banksy that has come to be known as the "Liverpool Love Rat". The door has not yet been valued but it has since been put under lock and key.

And the Montauk, Long Island estate of that other pop culture commentator, Andy Warhol, finally sold. The price had been hacked down from $50 to $40 million after being on the market for years. Mickey Drexler, the CEO of J. Crew, scooped it up, reportedly for less than $30 million.

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Comments

  1. Drexler doesn't own J. Crew, he's the CEO.

    Posted by: Anita Woodward | Nov 30, 2006 2:18:01 PM


  2. thanks for the correction

    Posted by: andy | Nov 30, 2006 2:28:01 PM


  3. Don't cave so easily Andy. Drexler's compensation probably includes stock options if J.Crew is publicly held. This would confer ownership if not exclusive ownership. If privately held Drexler is also likely to be compensated in some form of ownership provision. These would be standard industry practices. It is fairly easy to check with the SEC to determine the extent of his ownership. Your operating assumption should always be to question any posting by amanda. She tends to play fast and loose with the facts to suit her opinion.

    Posted by: rudy | Nov 30, 2006 3:12:05 PM


  4. Had it been Amanda who had posted that information I might have agreed with you Rudy. However it was Anita (no smart comments from JT please!) who made the comment.

    I don't think Amanda and Anita Woodward are the same person.

    Posted by: Zeke | Nov 30, 2006 3:42:23 PM


  5. Banksy = yawn.

    Posted by: Mitch | Nov 30, 2006 7:10:11 PM


  6. OOPS! I assumed (you know what that does) that such an ill informed opinion was from Amanda. Apologies to all, including both Anitas. (I wasn't going to go there, but you pushed me Bud!)

    Posted by: rudy | Dec 1, 2006 7:24:34 AM


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