London:
A partially shredded canvas of one of British artist Banksy’s most celebrated functions sold at auction in London Thursday for a record 18.58 million euros ($25.38 million), 3 years soon after getting purchased for a fraction of that price tag.
The artwork — now referred to as “Love is in the Bin — sold for nearly 1.1 million euros at Sotheby’s where in October 2018, before it dramatically passed through a shredder hidden in its frame moments later.
Thursday’s sale, which saw nine bidders battle for 10 minutes for the work formerly called “Girl With Balloon”, beats the previous record of 16.75 euros million set for the celebrated street artist in March.
The work, the seventh lot in a wide-ranging contemporary arts sale, had an estimated selling price of 4-6 million euros.
“It is nearly 3 years to the day considering that one of the most ingenious moments of efficiency art this century made auction history,” Alex Branczik, of Sotheby’s, said following the record sale.
“Banksy is no stranger to generating headlines and this newest chapter in his story has captured imaginations across the world – we can only start to guess what may possibly come next.”
The 2018 stunt, which poked fun at the staid world of fine art, is typical of the graffiti artist’s irreverent style after his work began appearing on the streets of Bristol in southwest England in the 1980s.
It was the latest in a long history of unpredictable moves for the provocative guerilla artist, whose work has appeared across Britain and around the world.
The partially shredded canvas shows a small child reaching up toward a heart-shaped red balloon.
The original, which first appeared on a wall in east London, has been reproduced endlessly in prints and online, and appropriated by some of the world’s best-known brands.
It had been called one of the most significant artworks of the early 21st century in the British press, before the shredded version was granted a new certificate and date by Pest Control, Banksy’s authentication body, and given the new title.
His latest works have appeared recently in several British seaside towns.
Meanwhile, the work which broke his previous record honoured caregivers during the coronavirus pandemic, with proceeds from that sale donated to the state-run National Health Service (NHS).
The painting, “Game Changer”, sold to an unnamed purchaser for &#16314.4 million plus charges soon after fierce bidding at Christie’s auction home in London.
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