Shredded painting by British artist Banksy re-sold for $25.4 million at auction in London
The famous self-shredding painting by the British artist Banksy was re-sold Thursday for $25.4 million.
According to the Associated Press, Sotheby’s auction house in London re-sold the painting known as “Love is in the Bin” during a private auction, which lasted about 10 minutes.
The damaged painting was originally appraised at around $5-8 million, however, after a fierce 10-minute bidding war, it re-sold for over four times that amount.
Back in 2018, Banksy made international headlines after Sotheby’s failed to notice a shredder hidden within the frame of one of his paintings. Upon conclusion of the original auction, the painting self-destructed, causing gasps from those present.
😲🖼 A woman who bought a Banksy painting for more than £1m will keep the artwork, despite it self-destructing after it sold at auction. pic.twitter.com/8gwWo4fK4P
— BBC (@BBC) October 13, 2018
Despite the painting partially self-destructing, the original buyer decided to go through with the purchase.
The AP notes that Banksy—who has never been officially identified and remains anonymous—began his career as an artist by spray painting murals alongside building walls.