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Shredded Banksy artwork ‘Love is in the Bin’ sells for £16million at auction

The famous Banksy painting was previously titled ‘Girl with Balloon’ but was renamed ‘Love is in the Bin’ after being sliced by a shredder concealed in its frame when it was sold at auction three years ago

Banksy’s ‘Love is in the Bin’ sells for £16 million at Sotheby’s auction

A shredded Banksy painting has sold for an enormous £16million at auction tonight.

The famous artwork, “Love is in the Bin”, was half sliced by a shredder concealed in its frame when it was sold at auction for three years ago.

Onlookers gasped when the then-titled “Girl with Balloon” was sucked into a shredder as the hammer fell following a bid of £1,042,000 at an auction at Sotheby’s in London in October 2018.

The work was then renamed “Love is in the Bin” and has gone under the hammer with a price estimate of £4-£6million – but sold for nearly three times that amount.

Tonight, it was bought for £16million – and without self-destructing.

Street artist Banksy, whose identity is a closely guarded secret, said on Instagram in 2018: “Some people think it didn’t really shred. It did. Some people think the auction house was in on it, they weren’t.”



The Banksy painting sold at auction tonight




The artwork, which was created in 2006,

The painting is accompanied by a Pest Control Certificate of Authenticity, Sotheby’s said.

Sotheby’s said the work fitted into an illustrious history of anti-art including Marcel Duchamp’s anonymous submission of Fountain, a porcelain urinal remounted on a pedestal in 1917, to Ai Weiwei, who photographed himself intentionally dropping an alleged Han Dynasty urn.

Alex Branczik, Sotheby’s chairman of modern and contemporary art, said: “When Girl with Balloon ‘self-destructed’ in our saleroom, Banksy sparked a global sensation that has since become a cultural phenomenon.



Handlers at Sotheby’s auction house with Banksy’s ‘Love is in the Bin’
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“During that memorable night, Banksy did not so much destroy an artwork by shredding it, but instead created one.

“Today this piece is considered heir to a venerated legacy of anti-establishment art.”



The artwork, then named ‘Girl With Balloon’, which shredded itself after being sold for more than £1 million at auction
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Image:

PA)






The painting returned to auction this evening at Sotheby’s, London
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Image:

PA)




In March, Banksy’s Game Changer painting sold at auction for £16.7million.


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