Banksy launches online shop, Gross Domestic Product

If you have ever wanted to own a genuine piece of Banksy art, a house-brick handbag, say, or a rug that resembles 'the diabetes riddled corpse of Tony the tiger,' you need to register your interest on the artist's new online shop before 28 October. The store, which has been named Gross Domestic Product, comes with a warning: 'All the products are made in an art studio, not a factory. Everything is produced by a handful of people using recycled material wherever possible in a workplace culture of daytime drinking.’ You may be in for 'a disappointing retail experience,' the disclaimer cautions.

Aside from the unusual marketing strategy, there is a further twist to Banksy's new enterprise. Those wishing to register for items, all of which are on sale for below the market value, will have to answer the question 'why does art matter?' Your response will then be judged by the comedian Adam Bloom, so try to be funny. The idea is that this process will filter out wealthy art dealers looking to net a bargain in order to make a profit, because, it seems, dealers have no sense of humour. And the store reserves the right not to fulfil an order if it 'reasonably believes that it might be offered for sale before or after receipt.'

Bbay, 'your first choice destination to trade in secondhand work by a third-rate artist.'

However, buying a bona fide Banksy at a cut price is sure to be a tempting proposition for those hoping to sell on their purchases for a profit. Earlier this month Banksy's Devolved Parliament, a painting representing politicians in the House of Commons as chimps, sold for £9.9 million at Sotheby's. And it's unclear how resale will be policed.

Prices on the website range from £10 for a signed mug to £850 for the 'John Bull' stab vest worn by Stormzy at Glastonbury, and sales are limited to one item per person. You can also buy a Bansky welcome mat for £500. The mats have been stitched using abandoned life vests found on the beaches of the Mediterranean. The proceeds from this product will go to the charity, Love Welcomes, which supports female refugees in detainment camps in Greece.

Gross Domestic Product is Banksy's reaction to a legal dispute with a card company who wanted to use his images on their wares. By selling works that come with his stamp of approval (he is not represented by a gallery) he is hoping to circumvent those hoping to make a quick buck from his work. It is a sort of trademarking exercise for an artist who has always said that 'copyright is for losers'. The website also advertises a future 'dealership' called Bbay, which promises to be 'your first choice destination to trade in secondhand work by a third-rate artist.' Who knows if Bbay will materialise, or whether it is another joke, but it does seem that Banksy has decided to take the commodification of his work seriously.

Click here to register for your Banksy artwork.