What is Gross Domestic Product?

Gross Domestic Product is the name of the online shop created by Banksy in 2019 where one was able to actually purchase the items. The physical shop erected overnight in Croydon was essentially a display cabinet for the project.

Disrupting the Art Market

Such initiatives to disrupt the art market and sell direct to fans, rather than to investors, are nothing new.

Why is the Gross Domestic Product collection important?

Banksy’s art has always been rooted in accessibility. From his earliest murals, which often took the side of the everyman vs. the establishment, to the unorthodox method of selling through the Gross Domestic Product shop, this is an artist who believes art is for the people. Embodying this outlook and often bearing important political messages, the selection of pieces in this collection are of striking complexity, blurring the lines between artwork, product and merchandise and representing an essential part of the artist’s oeuvre.

How do I buy a Gross Domestic Product?

One of the easiest and most cost-effective ways of buying work by Banksy is by using us to reach a seller. MyArtBroker is a curated site, meaning we feature artists that our collectors say they want. You can find Banksy art for sale here. You’ll need to create a free account to buy or sell with us.

How can I sell a Gross Domestic Product?

If you're looking to sell art by Banksy, click the link and we can help. We employ a number of techniques and practices in order to give a realistic and achievable valuation on any art listed on myartbroker.com. We analyse the demand for the work in question, take into consideration previous sales and auction valuations, we assess the current gallery valuation and monitor the current deals taking place via MyArtBroker every day. We regularly advise sellers on a price bracket for their artwork completely free of charge.

Gross Domestic Product by Banksy Background & Meaning

Gross
Domestic Product

Endeavouring to make his work more accessible, Banksy masterminded an online pop-up shop like no other: Gross Domestic Product (2019). The works on sale were available at impressively low price points, but only to entrants entering a random draw by answering the loaded question, "Why does art matter?"

Meaning & Analysis

Banksy’s 2019 project, a pop-up storefront and companion online shop titled Gross Domestic Product, is the artist at his most compelling. Appearing overnight in Croydon, South London, the shop windows were filled with dystopian, tongue-in-cheek artworks that could only have been made by one man.

As queues of fans formed around the block, it soon became clear that this was not a shop at all but merely a showcase for the artist’s work. The real shop was online, ironically titled: ‘Gross Domestic Product™… where art irritates life’, and it wasn’t a traditional shop at all.

Rather than adopting a retail model of first come first served, Banksy decided to make his potential customers answer a question before they could own one of his artworks/products. This, according to the website’s text, would help keep out those who were just buying for investment, along with a polite notice which read, ‘Please refrain from registering at this time if you are a wealthy art collector.’

The (age-old) question to be answered was “Why does art matter?” and the answers were judged by comedian Adam Bloom for their humour, originality and sincerity. Once past this barrier, your name would be entered into a lottery to receive the piece you wanted to buy.

The shop appeared a year after the famous shredding stunt at Sotheby’s London when, as the hammer came down on one of the best-known Banksy prints - Girl With Balloon - a self-destruct device was activated and the painting appeared to fall from its frame only to be shredded as the audience looked on in horror and amusement. The artist later made a video revealing how he had installed a shredding device into the work “in case it was ever put up for auction.” Gross Domestic Product seemed to be a natural consequence of this stunt, ensuring that Banksy could take ownership of primary sales of his work and enabling him to sell ‘merchandise’ (i.e his sculptures and prints here) for as little as £10 in a bid to make his art accessible to a wider audience.

It was also reported that GDP may have also come about as a result of a greeting card company’s attempt to trademark Banksy’s name in order to sell merchandise featuring his work. With the establishment of GDP – whose products feature the artist’s name followed by a ™ symbol – Banksy has been able to keep control of his name and sell directly to his fans, much in the way that American street artist KAWS has been operating since the opening of his Original Fake stores in 2006 and now with his website where his new toys are released.

To find out more, see our articles on Gross Domestic Product and Banksy Originals.

Such initiatives to disrupt the art market and sell direct to fans, rather than to investors, are nothing new.
In the 1970s Keith Haring shocked the art world by opening up his Pop Shops in Manhattan where kids and collectors alike could buy his work from as little as '50 cents. Similarly, when Andy Warhol began experimenting with screen printing in the '60s he opened the art world up to a whole new generation of collectors who saw his commercial and witty style of appropriation as a much-needed riposte to the hierarchy of the canon which prized unique works of art above all.
The selection of products in the GDP shop ranged from the Union Jack emblazoned stab vest Stormzy wore on the pyramid stage at Glastonbury while deriding Boris Johnson in June 2019, to a handbag made out of a house brick for the kind of person who “doesn’t carry much but might need to whack someone in the face.”
At the lower end of the price scale were a selection of mugs and t-shirts – including one with a fringe designed to look like the shredded Girl With Balloon painting. While many of these works were made in large editions, in what was perhaps a nod to Andy Warhol the website claimed that ‘All the products are made in an art studio, not a factory.’
Many of the products were also upcycled from charity shop wares, such as t-shirts with well-known logos sprayed over with Banksy’s tag, or cushions that had been embroidered with the message, ‘Life’s too short to take advice from a cushion’ in what appears to be a dig at the deluge of inspirational quotes coming at us from social media and cheap decorative design. All works from this series feature a dark sense of humour, revisiting themes that are ubiquitous in Banksy's street art, from round-the-clock state surveillance to the refugee crisis, from climate change to police corruption, and the futility of war.
While unorthodox in its approach to the art market, the project was well-received by critics and fans alike. The Art Newspaper described Banksy’s latest stunt in a somewhat sceptical tone, stating that, “It is all dressed up as humorous. … In an art market that is so often far removed from reality, laughter probably is the best recourse.”
Speaking to the BBC, their correspondent Anny Shaw said, “It’s a tongue-in-cheek poke at the market while at the same time attempting to wrestle some control of it.” Meanwhile, on social media, fans were going wild for Banksy’s venture, with one person commenting, “A cushion with the inscription ‘Life’s too short to take advice from a cushion’? SOLD!” while others said, “I need Banksy’s whole new GDP shop collection.”
Banksy’s art has always been rooted in accessibility. From his earliest murals, which often took the side of the everyman vs. the establishment, to the unorthodox method of selling through the Gross Domestic Product shop, this is an artist who believes art is for the people. Embodying this outlook and often bearing important political messages, the selection of pieces in this collection are of striking complexity, blurring the lines between artwork, product and merchandise and representing an essential part of the artist’s oeuvre.
If you're looking to sell art by Banksy, click the link and we can help. We employ a number of techniques and practices in order to give a realistic and achievable valuation on any art listed on myartbroker.com. We analyse the demand for the work in question, take into consideration previous sales and auction valuations, we assess the current gallery valuation and monitor the current deals taking place via MyArtBroker every day. We regularly advise sellers on a price bracket for their artwork completely free of charge.