What Is the Value of Banksy’s ‘Love is in the Bin’? The price of a Shredder painting at auction has been revealed.
Banksy’s “Love is in the Bin” piece will be auctioned off today at Sotheby’s in London, England, and is expected to fetch millions of dollars.
The piece made headlines in October 2018 when it was constructed live in front of a full auction room at Sotheby’s, just after Banksy’s painting “Girl with Balloon” was sold.
According to Sotheby’s, Banksy’s iconic picture was framed in a massive, Victorian-style frame for the 2018 auction, which he normally utilized to “poke fun at the establishment.” This one, however, has a secret shredder.
The artwork dropped halfway down the frame and was shredded seconds after the auction hammer fell and the painting was officially sold.
According to Sothey’s, this was the first time a piece of live performance art was auctioned.
According to the BBC at the time, Banksy had sent a video of the painting being shredded to his Instagram account before quickly erasing it.
The artist posted a video titled “Shred the Love, the Director’s Cut,” in which he demonstrated how the frame was constructed and hinted that the artist may have planned to destroy the entire artwork.
Before the video showed the piece being completely ripped, a note in the video read: “In rehearsals it worked every time.”
While some thought that Banksy’s trick was carried out in conjunction with Sotheby’s, the artist’s former gallerist Steve Lazarides remarked at the time, “The concept of him working with an institution to carry off a stunt is the complete antithesis of his philosophy.”
In a statement at the time, Alex Branczik, Sotheby’s senior director and head of contemporary art, Europe London, remarked, “It appears we just got Banksy-ed.”
Pest Control (Banksy’s authentication body) issued a certificate for the item, which was named “Love is in the Bin.”
The female European collector who bought the picture “Girl with Balloon” seconds before it was shredded opted to sell it for the same price it sold for at the 2018 auction that night.
She said she was “shocked” to see the work shredded at the time, but “slowly I came to realise that I would end up with my.” This is a condensed version of the information.