By then street art had become an even more valuable commodity, with Banksy fetching more than a million dollars at auction. With clever promotion, the Brainwash exhibition attracted hundreds of thousands of viewers and sold a million dollars of work in a few days.  Because it was made by Banksy, many thought the film was a hoax. But Steve Lazarides, the dealer who put Banksy on the map and knows Guetta, says “it’s all true. It plays on the fascination with the American Dream, how someone can come from nowhere and become famous. Ultimately, it demonstrates how a market can be created.”  In February 2010, a month after the film was premiered, Mr Brainwash held a second blockbuster show, this time in New York, where $6 million of art was sold. This was organised in conjunction with the Opera Gallery, a slick operation with outlets in 12 cities that sells anything from Picasso or Damien Hirst prints to any number of contemporary Russian or Chinese artists.  Within months of Mr Brainwash’s New York show, his first painting, depicting Charlie Chaplin as a street artist, appeared at public auction at Phillips de Pury & Co in New York. Estimated at $50,000, it sold for $122,500. Who bought it is not known, but the following autumn another Brainwash painting rammed the message home, tripling estimates at £75,650 ($121,000) at Phillips in London.  Such success has bred jealousy, says Jean-David Malat of the Opera Gallery. “Street artists hate Mr Brainwash because he’s borrowed from them and is not a real street artist,” says a PR consultant who works in the field. Even Shepard Fairey, who helped Guetta on his way, has been scathing. “It was fascinating to observe a lot of suckers buying into his show,” he said. “I wish it were about him making a statement, but it’s like, 'Throw a bunch of –––– against the wall and see what sticks.’ ”  So, as the new exhibition opens, some questions are still being asked. Is Banksy the brains behind Mr Brainwash? And is the art any good, or have we been duped? “It’s happy art, and people like that,” says Malat, who has already sold 11 of the new works, which are priced from £23,000 to £100,000.  Whoever is behind the Mr Brainwash marketing exercise must also be happy. Apart from art sales, the Brainwash brand includes a lengthening array of products such as postcards and T-shirts. But whether Mr Brainwash is a good investment or just a short-lived speculative phenomenon only time will tell.
Next week sees the first exhibition in Britain of works by street artist Mr   Brainwash. The show will be nothing if not controversial, says Colin Gleadell