One example of successful brand building and management is Banksy. The most recent auction of his “Love in the Bin” fetched US$25.4 million. Just three years ago, the work was auctioned for US$1.4 million.
What makes Banksy successful?
Brand myth, the person is a mystery.
Pushing boundaries, the legality of graffiti is questionable. Similar to Red Bull, which was considered not legal in Germany initially.
Brand checks, at PestControl he authenticates his work, and thus, protects and defends his work and his brand.
Exclusivity, Banksy is selective when licensing.
Banksy operates largely outside the classic channels of the art market such as galleries, art fairs, museums.