Shredded Banksy painting worth more than original, say experts

13 October, 2018, 07:14 | Author: Heather Diaz
  • The artwork was shredded moment after going under the hammer for $1.7m

The anonymous street artist known only as Banksy has seemingly trolled the art world in the most spectacular fashion.

The 2006 work, "Girl with Balloon", will be renamed "Love is in the Bin" to reflect its changed state, Sotheby's said Thursday in a statement.

Sotheby's has described the painting as a "framed work, spray paint and acrylic on canvas", and notes that it's "the first time in auction history that a work of art automatically shredded itself".

The painting, which was auctioned off as part of Sotheby's "Frieze Week" contemporary art sale, will this weekend be on view at Sotheby's New Bond Street galleries in London.

"Sharing the video on Instagram, the artist included the caption: "'The urge to destroy is also a creative urge' - Picasso".

He today posted a video online to show how he secretly installed the shredder in the frame of the painting some years back.

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For those who didn't get a chance to see the incident unfold last week (and are not already exhausted of reading about it), Love Is In the Bin goes on show at Sotheby's New Bond Street galleries on 13 and 14 October.

Joey Syer of MyArtBroker told the Daily Mail that with the result of the auction and the stunt by Banksy, along with all the media attention it received, the winning bidder may see a huge return on the money he or she paid for the painting.

Banksy, who has never disclosed his full identity, began his career spray-painting buildings in Bristol, England, and has become one of the world's best-known artists.

The authors conceded that their study fell short of definitive proof.

There have been questions whether - and to what extent - Banksy may have collaborated with the auction house to pull off the elaborate stunt, which is an anti-capitalist critique of the art market.

Internet sleuths say this man bares a passing resemblance to Robin Gunningham, widely suspected of being the man behind Banksy. In 2013 he set up a stall selling his original artwork for $60 in a NY market and filmed people passing by, convinced that because of the price, the works were fake.

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