Boodle Hatfield advises Showpiece.com on the sale of shares in Banksy’s Valentine’s Day Mascara mural
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Boodle Hatfield has advised online fractional ownership collectibles marketplace Showpiece.com, on the sale of shares in Banksy’s iconic Valentine’s Day Mascara mural in Margate, which has been valued at £6 million.
Showpiece is in the process of releasing 27,000 shares of the infamous Banksy mural (out of 60,000 shares in total). The shares, each costing £120, allow individuals across the globe to partially own a small fraction of the artwork from the internationally renowned unknown British graffiti artist. The mural, located in the English seaside town of Margate, depicts a 1950’s housewife with a swollen eye and missing tooth, wearing an apron and washing up gloves, throwing a man into the large freezer chest. The artwork was first moved from its original home to Dreamland Margate and has since moved to the foyer of The Art of Banksy exhibition in Regent Street, London, where the public can see it for free.
Boodle Hatfield advised Showpiece on due diligence on the purchase and the terms of an agreement with the owners to provide the technology solution used to fractionalise and sell pieces of the artwork to collectors.
In honour of the work’s deeper message, Showpiece are teaming up with Refuge, England’s largest domestic abuse organization and Oasis, a local domestic abuse charity in Kent. “We hope that by working with our charity partners, Refuge and Oasis, we can continue to promote the work they accomplish and support the causes Banksy is concerned with,” said Aaron Carter, Showpiece’s CEO in a statement.
The Boodle Hatfield team was led by Corporate and Arts Senior Associate, Fred Clark with support from his Corporate and Arts colleague, Ruby Dyce.
More information regarding the shares of Banksy’s Valentine’s Day Mascara mural can be found here.
