Banksy’s Nola Tops £2.67M in Five Years
Nola Yellow Rain © Banksy 2008
Banksy
269 works
Banksy’s Nola, or Umbrella Girl, was first painted in New Orleans’ Marigny neighbourhood in response to the devastation of Hurricane Katrina. Part of a 2005 mural series addressing the disaster, its poignant imagery was translated into print in 2008 with a signed edition of 289. What began as a commentary on fragility and resilience has since become one of Banksy’s most enduring and valuable prints, anchoring consistent demand at auction and in private sales.
Now one of the artist’s most popular works, Nola has been released in multiple colourways that structure its market. The original white rain edition (289 prints) was followed by grey (63 prints), neon orange (32 prints), neon yellow (31 prints), and 66 artist proofs in multicolour variants. All works are signed and numbered by the artist, but their differing edition sizes – from widely available to extremely scarce – have become the key driver of performance and collectability.
Investment Overview: £2.67M in Five Years
Between 2019 and 2025, Nola generated £2.67 million across 25 sales, with 73% of those sales exceeding £90,000.
While 2024 saw just one sale – Nola (White Rain) achieving £45,000 (hammer) at Forum Auctions – 2025 has already shown renewed momentum. Nola (Yellow Rain) achieved £81,900 at Christie’s London, signalling renewed collector interest following the wider market correction.
Edition structure directly influences results. Nola (White Rain), with an edition of 289, has appeared at auction ten times since 2019, producing a cumulative hammer of £672,200. In contrast, Nola (Yellow Rain), with just 31 prints, has surfaced five times yet achieved £851,300 – outperforming larger editions on lower volume.
Edition Size and Market Performance
Sales data highlights the link between edition size, auction frequency, and realised values. Larger editions such as Nola (White Rain) appear more often and generate steady cumulative totals, while smaller runs – most notably Nola (Yellow Rain) – deliver higher aggregate values despite fewer sales. Mid-tier editions such as Orange Rain (32 prints) and Grey Rain (63 prints) illustrate the balance between accessibility and performance, trading less frequently but maintaining reliable demand.
This relationship is visualised in the chart above, which plots edition size against average realised price. Smaller editions sit higher on the value scale, with Yellow Rain and the Artist Proofs achieving stronger averages, while White Rain anchors liquidity at lower individual price points. The pattern underlines how scarcity shapes both market behaviour and collector priorities.
Artist Proofs: Rarity at the Top End
As the chart also shows, Artist Proofs cluster at the premium end of the market. Though their sales are rare, they achieve disproportionately high averages.
Green/Blue Rain – £285,000 from 2 sales.
Green Rain – £131,000 from 1 sale in 2022.
The rarity of these works amplifies their appeal; when they surface, prices reflect both their exclusivity and the cultural weight of the Nola image. Collectors consistently pay premiums for scarcity layered onto an already iconic subject. Variants such as Nola (Pink/Yellow Rain), which last appeared in 2017, and Nola (Green/Burgundy Rain), which has never come to public auction, further underscore just how rare these Artist Proofs are.
Top 5 Banksy Nola Sales (2020–2025)
Nola (Yellow Rain) – £365,000, Christie’s London, April 2021
Nola (Orange Rain) – £228,000, Tate Ward, December 2021
Nola (Yellow Rain) – £226,800, Sotheby’s London, September 2020
Nola (Green/Blue Rain) – £218,750, Christie’s London, July 2021
Nola (Yellow Rain) – £216,000, Tate Ward, December 2021
What This Means for Consignors And Buyers
For consignors, Nola offers a market shaped by both reliability and scarcity premiums. Mid-tier editions provide steady returns, while rare colourways and artist proofs generate the strongest results. Timing and placement remain essential to achieve maximum value.
For buyers, the series combines accessible entry points with high-value potential. Larger editions allow for exposure to Banksy’s most recognisable imagery at relatively lower levels, while rare variants offer long-term appreciation and blue chip positioning.
Private sales continue to provide strategic advantages in 2025, helping consignors manage visibility while enabling buyers to target specific colourways without depending on auction cycles.
Nola demonstrates the dual strength of Banksy’s print market: dependable demand for his most recognisable imagery and exceptional premiums for works where scarcity and cultural weight intersect.
Data & Sources
This report draws on MyArtBroker’s proprietary print market database, which tracks more than 400 auction houses worldwide. All prices are reported in GBP (unless otherwise stated), inclusive of buyer’s fees. Performance figures are based on hammer prices, which also underpin the accompanying graphs.