An artwork by Banksy, which partially shredded itself after being sold at a previous auction three years ago, has resold on Oct. 14 for £18.6 million ($25.43 million), a record for the artist.
The artwork titled “Love is in the Bin” — previously known as “Girl with Balloon” — sold at an auction at Sotheby’s in central London vastly beyond its previous price of £1 million ($1.5 million) in 2018 and pre-auction estimates between £4 million to £6 million ($5.47 million to $8.2 million).
Alex Branczik, Sotheby’s Chairman, Modern & Contemporary Art, called the work “the ultimate Banksy artwork and a true icon of recent art history.”
Sotheby’s also described the artwork as an “unexpected piece of performance art” that became an “instant art history, making it the first time a new work had been created in the course of an auction.”
When the artwork was sold at the 2018 auction, a hidden shredder embedded in the frame by Banksy activated, shredding half of the canvas and leaving it hanging from the frame.
“Banksy is the ultimate art world outlaw, and in one exhilarating and shocking moment, Sotheby’s became the unwitting stage for his audacious piece of performance art,” Oliver Barker, Auctioneer and Chairman of Sotheby’s Europe, said.
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