Dreamland will be the permanent home of the Banksy Valentine’s Day Mascara artwork following a decision to sell it by issuing shares.
Showpiece, the marketplace for some of the world’s rarest collectibles, has announced a ‘fractional ownership’ plan for the piece, which has been valued at £6 million.
Fractional ownership means people can buy shares in an artwork, in this case the cost will be £120 per share with 27,000 shares on offer, which would raise £3.24m. Owners would be issued a deed representing their fraction of the artwork.
The Valentine’s Day Mascara was unveiled at Dreamland in June, The artwork originally appeared on a property in Margate’s Park Place on February 13. Removing the art was overseen by Red Eight Gallery which was called in by the artist owners of the property to deal with preservation and sale of the work.
A team of engineers, supported by an art conservator from Dargate, worked to relocate the mural to Dreamland’s Roller Room area where it is open for public viewing.
The proposal was for Dreamland to host the piece for 12 months but the sale by shares means it will now remain at the park.
Showpiece say the owner (of the house and, so, the artwork) has fought off significant offers from private collectors around the world, resolute that the work should remain in the town it was created and available to the public to see.
Collectors will be able to purchase their share of the work through Showpiece.com. From 22 August, a total of 27,000 will be available across multiple drops, and each will also unlock exclusive access to a range of ongoing and interactive digital and physical benefits, including exclusive Showpiece limited edition prints created by renowned printmakers King & McGaw, a longstanding partner of Showpiece.
Julian Usher, CEO of Red8 Gallery, said: “I’m so pleased that the Banksy work can be hosted at Dreamland, so that it remains in the town for everyone to come and see. The fact that it will be accessible for people to actually own a share in is wonderful – and it also means the mural can now make Margate its official home.”
The piece shows a woman with a swollen shut eye and missing tooth with a man’s legs poking out from a chest freezer, alongside an upturned chair and is a comment on domestic violence.
A beer bottle and frying pan that had been part of the installation are missing.
The mural’s theme has seen a pledge to donate a six figure sum out of the sale price, to Oasis Domestic Abuse Service which has operated in Thanet for 30 years next year and expanded to North Kent and Medway in recent years.
The funding for Oasis will be used by the charity for preventative work aimed particularly at young people.
To honour the message of the artwork, Showpiece is working with Refuge, the nation’s largest domestic abuse organisation, and will be raising funds for that cause.
Aaron Carter, Managing Director of Showpiece, said: “Like many of Banksy’s works, Valentines Day Mascara highlights a serious subject matter. We hope that by working with our charity partners, we can continue to promote the work they accomplish and support the causes Banksy is concerned with.”
A spokesperson for Dreamland said: ‘We are thrilled the Banksy is now officially for sale, and that members of the public can now buy shares in this brilliant artwork which is drawing much needed attention to such an important issue.
“Dreamland is also delighted to be able to continue to give the artwork a home where members of the public can see it for free when the park is open.”
Banksy is known for a distinctive style that combines elements of humour, irony and political commentary.
Getting help
Call Oasis’s helpline on 0800 917 9948 (Monday, Tuesday, Wednesday 09:30–11:30am, 12:30–2:30pm Thursday and Friday 09:30–11:30am, except bank holidays)
Visit www.oasisdaservice.org
In an emergency, call 999
Visit www.refuge.org.uk
Refuge’s National Domestic Abuse Helpline 0808 2000 247, is available 24 hours a day 7 days a week
for free, confidential specialist support.
How much will Dreamland get out of this nobody gives a space for free in Dreamland all have to pay to be onsite as well as a share of businesses profits.
So conceivably 3.4m is raised, somewhere between 100,000 and 999,999 goes to Oasis, Dreamland gets to retain a tourist attraction in return for insuring and maintaining the picture , the remaining sum goes to the other interests involved. Have i understood that right?
I bet the builders in herne Bay who wreaked there’s are gutted. I think il spend my £120 on something more practical.
Lol, I must have missed that one Supachip, do you have a link you can share please.
No sorry but it was only about a week later when then demolished a property with a Banksy on it . They thought it was kids messing around.
https://www.theguardian.com/artanddesign/2023/mar/15/new-banksy-mural-on-derelict-farmhouse-in-kent-is-demolished
It’s great it is staying at Dreamland, but to buy a share it will cost £120 WHY. Not many people round here will get a share. The price should be a lot lower and make it there are more shares available, so people in planet thanet can get a share of something we can be proud to have.
I agree, 120 quid is a lot of money for most folk here.
Or you could just club together with some other people and buy a share between you!
What a good idea! I’ll do a fundraiser so that we can all buy some virtual bricks.
How much does it cost to buy a couple of bricks? I need them to prop up an old car axle while I change the brake pads.
Interesting to see how the value has increased since the move…
So if no one knows what this guy looks like . Does he get paid for his work . So who do you pay ?????
Margate is looking as if the graffiti vandals have been let out on day release, buildings are being painted by any Tom dick and Ali.
The paintings are a distraction to drivers and make the town look a right mess. I understood one had to get planning permission to paint the outside of a building sky blue pink.
Who in their right mind would give their hard earned cash to own a paper share in for what is after all free public graffiti (art )and in connection with a company owned by an unaccountable offshore hedge fund.
The ongoing publicity and promotion of Dreamland through this stunt far outweighs the short term financial benefit to Oasis .
Just another example of the commoditisation of street art and a form of virtue signalling .
So how much is Dreamlands cut I think that should be made public but it won’t be as Dreamland seems to be a law unto themselves and £120 per share is far to much money for the majority of locals.
Why should it be made public ? The artwork was on private properly and being shown on private property, no public money/property is involved !
The artwork was on a property that could easily be seen from a public road and pavement, which is probably why Banksy chose the location.
Emperors new clothes !
How complex could you make it?
Well done to all involved.
A great piece of artwork turned into endless debates and the fact you can buy shares into this turmoil gets even better.
People homeless, families in Thanet struggle day to day just to get by, wonder how many shares they will be buying?
The great divide gets wider, ‘Us & Them’ or ‘Them & Us’
Tory heaven 🙂