Banksy’s shredded canvas sells for a record price? 18.58 million people.
A partially shredded canvas of one of Banksy’s most famous paintings sold for?18.58 million ($25.38 million) at auction in London on Thursday, setting a new record for the British artist three years after it was purchased for a fraction of that price.
In October 2018, the artwork, now known as “Love is in the Bin,” sold for nearly?1.1 million at the same Sotheby’s auction house location, before being spectacularly shredded in the enormous Victorian-style frame seconds later.
The bizarre prank was carried out by the enigmatic and irreverent Banksy, whose identity is claimed to be known only to a few close friends, and it became a worldwide phenomenon.
The auction on Thursday evening, which saw nine bids compete for the work formerly known as “Girl With Balloon” for about 10 minutes, broke the previous record of?16.75 million set by Banksy in March.
The auctioneer Oliver Barker reveled in the drama as bidding for “Love is in the Bin” quickly soared from its starting price of?2.5 million.
As the final bid went uncontested, he said, “I can’t tell you how afraid I am to bring down this hammer.”
According to reports, the job was sold to a private investor. It was the eighth lot in a large contemporary art auction, with an estimated selling price of?4-6 million.
Following the record haul, Sotheby’s’ Alex Branczik commented, “It’s almost three years to the day since one of the most inventive moments of performance art this century made auction history.”
“Banksy is no stranger to generating headlines, and this latest chapter in his saga has piqued people’s interest all over the world — we can only speculate on what may happen next.”
The 2018 act, which mocked the typically staid realm of fine art, is typical of the graffiti artist’s disruptive approach, which has been visible since the 1980s on the streets of Bristol, southwest England.
The provocative guerilla artist’s work has been seen across the UK and around the world, and this was the latest in a long line of surprise actions.
The part-shredded canvas depicts a young child reaching up for a heart-shaped red balloon and was purchased in 2018 by an anonymous European woman and exhibited for a month at a museum in Germany in 2019.
The original, which was initially seen on a wall in east London, has been repeatedly duplicated in prints and on the internet, and has been appropriated by some of the world’s most well-known businesses.
It had been requested. The Washington Newsday Brief News is a daily newspaper published in Washington, D.C.