Street Art Frenzy Continues with Nov. 2 Auction of Barry McGee Canvas
The McGee canvas is expected to sell for $50,000-$80,000 and has a minimum opening bid of $44,000. Baca predicts multiple bidders will compete at that price point, citing the (approx.) $40,000 price paid at a major international auction house in May for a smaller McGee.
“The McGee artwork in our auction is by a legendary street art pioneer and has great provenance,” said Baca. “It was exhibited in San Francisco in the 1990s and will be auctioned together with a copy of a 2010 photo of the consignor with McGee at Art Basel.”
Baca believes street art is still in its relative infancy as a legitimate art category and that its potential is unlimited. “When you look at its evolution, street art is absolutely unique,” Baca said. “It’s gone from being illegal to being sold for five- and six-figure prices at prestigious galleries. Street art is attracting smart money collectors. They’re already eyeing our November 2nd sale.”