HomeEuropeBanksy's Shredding Artwork Auctioned at Sotheby's for $25.4 Million

Banksy’s Shredding Artwork Auctioned at Sotheby’s for $25.4 Million

London — The Banksy Painting That sensationally self-destruct It was resold by Sotheby’s Thursday for £18.6 million, or $25.4 million, a record for the artist after selling for $1.4 million at auction three years earlier.

The work, retitled by Banksylove is in the bin It was estimated to sell for $5.47 million to $8.21 million.

After competition from a total of nine bidders, it was purchased by a customer over the telephone at a price that was more than double Banksy’s previous auction record of $12.1 million, given for his painting.Deputed Parliament,” Again in 2019 at Sotheby’s.

The auction was the centerpiece of Sotheby’s “Freeze Week” auction of contemporary art.

“I expected it to make £20 million,” said Acoris Andipa, a London-based dealer specializing in Banksy’s paintings and prints. “It’s such a notorious work. With Leonardo’Salvator Mundi,’ It has been the world’s most talked about artwork in the last two or three years.”

The artwork, which debuted as a spray-painted canvas from 2006, called “Girl with a Balloon,” was the final lot of Sotheby’s’ equivalent “Freeze Week” sale in October 2018. The alarm went off in the salesroom, shortly after it was bought for $1.4 million in a telephone bid. Sotheby’s employees and onlookers at the auction were gasping as the painting slipped through its elaborate gold frame and sliced, then jammed halfway. This was done through a remote-controlled mechanism hidden in the frame. Sotheby’s later announced that it was “Bankies-ed.”

According to him, the art was prepared by Banksy to overcome the excesses of the trade. instagram post, the stunt that was correctly predicted by experts would become a highly prized work of performing arts.

“Love Is in the Bin,” with its cropped lower half hanging below the frame, was displayed behind a protective glass screen at Sotheby’s. It was offered for sale by an unknown European collector. It was displayed next to the revered old masters for 11 months. State Gallery Stuttgart In Germany during that period in 2019-20, the Staatsgallery said, it attracted 180,000 visitors, almost twice its usual attendance.

Leading up to the sale, the artwork, which auctioneer Oliver Barker, Sotheby’s president of Europe, called “this great iconic Banksy”, was displayed Old Master-style in a gallery illuminated by his own cemetery, not a dark chamber. Unlike the. which Christie’s displayed $450 million”Salvator Mundi” in New York in 2017.

“I can’t tell you how terrified I am to bring this hammer down,” Barker said after taking the final bid of $25.4 million. He had been the auctioneer on the night of Banksy’s audacious, semi-successful stunt three years earlier.

But this time it was just an auction record that was broken.

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