A work of art by Banksy that could be worth a quarter of a million pounds is currently being held by police in Wales after being seized as part of a criminal investigation. Gwent Police are remaining tight-lipped about where and why they seized the work, called Grappling Hook, but legal applications made by the force have now revealed they seized it and two others by Banksy in March 2021.
Grappling Hook is a sculpture by Banksy that features a three-sided grappling hook and rope with a carving of Jesus on the cross on the fourth side. It was originally created as an exhibit in the Walled Off Hotel in Bethlehem back in 2017, an exhibition and hotel created by the Bristol artist to raise awareness of the division in Palestine and Israel.
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While the Walled Off Hotel is still open for business, many of the works that were created for the initial launch have been sold off, and the Grappling Hook was sold at a Sotheby’s auction in London back in 2019. It sold then for £93,750, but is valued now at around £220,000 or more.
Court documents obtained by the Evening Standard reveal that it then turned up as part of a police operation in South Wales in March 2021, along with two other Banksy works - a work called White Tower, valued at £1,750 and a satirical portrait of the late Queen Elizabeth, called Monkey Queen, which is valued at £13,750.
All three works were confiscated by Gwent Police as they suspected they were bought through the proceeds of crime. Gwent Police have remained tight-lipped about the seizure, and would not respond to questions about where the works are being held or what may happen next. The court documents reveal the seizures were made as part of an investigation into a 35-year-old man from Ebbw Vale.
Gwent Police declined to say whether any charges have or will be brought against that man, who has not been named. The order was made by the court two years ago under the Proceeds of Crime Act 2002, and the three Banksy works were classed as being ‘listed assets’ - normally these may be cars, jewellery and property, but they can be artwork.
The initial order is regularly reviewed by the court - the last one took place in September last year at Newport Magistrates' Court, and the next one will take place later this month, where police will apply to magistrates to be allowed to continue to hold the art works.
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