By Center for Art Law.
The reference to James Cuno's Who Owns Antiquity in the title of this article is not flippant. The rhetoric and vocabulary that is passe in the discussion of cultural heritage is now relevant to disputes over street art, formerly known as "graffiti." A few years ago, even five years ago, street art held little or no value. It was, in fact, considered a banal nuisance.
Street Art and Antiquities: The Concept of Monetary Value
Today, street art is a valuable commodity and collected by investors world-wide. Peter Aspden of the Financial Times wrote in February that the concept of street art has drastically changed. He wrote:
Banksy's "I Can't Believe You Morons Actually Buy this Shit"
marks the beginning of his commercial career.