LONDON (AP) — A work by British street times the high estimate to an undisclosed buyer. The of 18,582,000 pounds ($25,383,941) includes an auction-house fee known as a buyer’s premium.to 20 times its pre-shredded price. “Love is in the Bin” was offered by Sotheby’s in London, with a presale estimate of 4 million pounds to 6 million pounds ($5.5 million to $8.2 million). After a 10-minute bidding war involving nine bidders in the saleroom, online and by phone, it sold for three
The piece consists of a half-shredded canvas in an ornate frame bearing a spray-painted image of a girl reaching for a heart-shaped red balloon. When it last sold at Sotheby’s in October 2018, the piece was known as “Girl With Balloon.” Just as an anonymous female European buyer made the spot the hidden shredder. But the 2018 to go through with the purchase, a decision that was vindicated on Thursday as the work’s price soared.— for 1 million pounds ($1.4 million) — a hidden shredder embedded in the frame by Banksy whirred to life, leaving half the canvas hanging from the edge in strips. Sotheby’s was criticized then for failing to
The work quickly became one of Banksy’s most famous, and Sotheby’s sent it on tour to cities including New York and Hong Kong before Thursday’s auction. Auctioneer Oliver Barker joked that he was “terrified” to bring down the hammer to . There were jitters Sotheby’s staff to the last that Banksy had another surprise planned. When it last sold at Sotheby’s in October 2018, the piece was known as “Girl With Balloon.” Alex Branczik. Sotheby’s chairman of modern and contemporary art called the shredding “one of the most ingenious moments of performance art this century.”
“It has been a whirlwind tothe journey of this now legendary piece and to have it back in our midst, offering it tonight in the very room the artist created it,” Branczik said. “Banksy is no stranger to making headlines, and this has captured imaginations worldwide — we can only begin to guess what might come next.” Banksy, who has never confirmed his identity, began his career spray-painting buildings in Bristol, England and became best-known artists. His mischievous and often satirical images include two male kissing, armed riot police with yellow smiley faces, and a chimpanzee with a sign bearing the words, “Laugh now, but one day I’ll be in charge.”
Several of his works have sold for multiple millions at auction. A Banksy piece honoring Britain’sat a Christie’s auction in March. In March, a Banksy piece honkeepingitain’s sold for 16.8 million pounds ($23.2 million) at a Christie’s auction, a record for the artist until Thursday. “Girl With Balloon” was originally stenciled on a wall in east London and has been endlessly reproduced, becoming one of Banksy’s best-known images.