Published: Sat, October 13, 2018
Culture | By Glenn Strickland

Banky's self-destructing painting might be worth twice as much now

Banky's self-destructing painting might be worth twice as much now

It will go to auction on November 19 in Los Angeles, alongside other works by the mysterious street artist.

The auction house said the artwork had been granted a certificate by Banksy's authentication body and has given a new title, "Love is in the Bin".

The official new name of the artwork is now "Love Is In The Bin".

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". "Absolutely not", Sotheby's head of contemporary art in Europe Alex Branczik posted on Instagram. While the act may have been in protest of the art market and the exorbitant prices paid for works of art at auction, experts declare that the value of the piece will most likely increase as a result of the performance. No sooner did the gavel come down to mark the sale of Banksy's "Girl With Balloon" for a record $1.4 million, did the picture start to slip out of its frame into shreds below.

It passed through a shredder seemingly built into the frame which held it.

The announcement follows a week of negotiation between the buyer and the auction house and unprecedented speculation over the stunt.

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It's not known whether Sotheby's had any prior knowledge of the prank, but the painting was conspicuously the final lot of the auction - which meant it marked a spectacular end to the company's Contemporary Art Evening Sale.

Banksy is known worldwide for his England-based street art.

The man spotted at Friday's auction bears similarities to Gunningham, leaving internet and art sleuths to suggest it was him.

The destruction has prompted copycat actions with a £40,000 piece of Banksy artwork "now worth under £1 after a collector shredded it in attempt to copy the famous artist", says the Bristol Post. His screen is visible and that angle is similar to one in footage in Banksy's video.

In 2006 he secretly erected a life-size replica of a hooded Guantanamo Bay detainee inside a ride in the California Disneyland theme park.

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