Banksy 'rat pub' sold for £114,000

By Paul Meehan

The Whitehouse pub on Berry Street, home of the famous giant Banksy rat mural, has fetched £114,000 at an auction in Liverpool.

The building had a guide price of £70-80,000, but it was the rare piece of artwork from one of the world’s most notorious guerrilla artists that added to the building's extra value.

Controversy has surrounded the selling of the pub ever since it was first put on the market in 2008, as some members of the Liverpool public wanted the building demolished and considered Banksy’s work to be an eyesore.

Banksy himself was unavailable to comment on his 30 ft piece of artwork, which is in fact thought to be the artist's biggest ever stencil. His representatives, Jo Brooks PR, told JMU Journalism: “Banksy was initially unaware of the sale of the building, however he now hopes that his piece can remain in Liverpool and he wishes the prospective buyers all the best in their venture.”

The successful bidders, club owner Sina Moradian and his business partner and builder Billy Palmer, said they knew they were destined to buy the derelict property. “It was a project we were always keen on," Mr Palmer told JMU Journalism. “Although we are not fans of Banksy we have always admired the artwork and we are hoping to be able to keep the Banksy rat there, renovation work permitting.”

However, in other comments about the purchase of the property, Mr Palmer has reportedly indicated that the mural will be painted over, to make way for luxury apartments.

It is a Grade II Listed Building and permission to paint over it would have to be sought from Liverpool City Council, not from the actual artist himself, as was first thought. “We anticipated that there might be some complications with the purchase in that we might have to get the artist's permission to interfere with the painting but since the work was not commission by Liverpool Council, it is in effect illegal,” Mr Palmer claimed.

Bristol-born Banksy, the most elusive character in the art world, created the piece in 2004 during Liverpool's Biennial Festival and although it was not commissioned by the art event, it was widely incorporated into the celebrations.

The 200-year old pub was originally valued at £495,000 back in 2008, but this figure seemed unrealistic considering the amount of repair work that is required. James Kersh, director of auctions at Sutton Kersh estate agents, said: “This is a unique opportunity for Mr Moradian and Mr Palmer. The building's quirky appeal makes it a fantastic investment and a worthwhile project for the pair. They have bought at the right time and for a much lower price than first suggested.”