Shredded Banksy artwork sells for $25.4 million at auction

LONDON (AP) — A work by British street artist Banksy that sensationally self-shredded just after it sold at auction three years ago fetched 18.5 million pounds ($25.4 million) on Thursday, a record for the artist.

“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).

The sale price was three timed the high estimate.

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 European buyer made the winning bid, a hidden shredder embedded in the frame by Banksy whirred to life, leaving half the canvas hanging from the frame in strips.

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Sotheby’s had described the work created in the stunt as “the ultimate Banksy artwork.”

Banksy, who has never confirmed his full identity, began his career spray-painting buildings in Bristol, England, and has become one of the world’s best-known artists. His mischievous and often satirical images include two male police officers 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. In March, a Banksy mural honoring Britain’s health workers, first painted on a hospital wall, sold for 16.8 million pounds ($23.2 million) at a Christie’s auction, a record for the artist.

“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.