DOUGLAS ART, OR DOUGLAS GRAFFITI?

I always stop and look at this wonderful image in Douglas. It's on a carpark wall of all places, near the Post Office, just off the promenade.It's peeling, but still quite vibrant colourwise. It's the first time I've photographed it, and I wondered how many other people actually take a long hard look themselves when they pass it.

Question is, is this art or graffit.?Technically it's graffiti, as it's painted on public property, but you have to agree, it's rather artisically executed. It's certainly brigthens up a dull grey area and that can't be a bad thing now can it?