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.
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)
In an emergency, call 999
Refuge’s National Domestic Abuse Helpline 0808 2000 247, is available 24 hours a day 7 days a week
for free, confidential specialist support.