Tristan Fewings / Getty Images for Sotheby’s
Banksy’s world-famous shredded painting “Love is in the Bin” grossed $ 25.4 million at a Sotheby’s auction, according to the auction house’s website.
Nine people vied for the coin for around 10 minutes before an anonymous collector, represented by Nick Buckley Wood, won the auction, BBC News reports. The sale is a record for Banksy, beating a coin that sold for around $ 22 million in March, with the proceeds going to a UK charity.
“Love is in the Bin” made history with its mid-auction creation in 2018. The original piece, an image of a girl holding a balloon aptly titled “Girl With Balloon,” reported 1, $ 4 million at auction, but crowds were shocked when a crusher built into the frame kicked in as soon as the sale was over, partially tearing the room apart.
It was an unforgettable moment in the art world, and the first time a work of art had actually been created at an auction, according to Sotheby’s.
Auction officials maintained they had no idea what Banksy had planned for the 2018 auction. They were, in layman’s terms, “Banksyed,” auctioneer Oliver Barker said. and president of Sotheby’s Europe, in a press release.
Banksy himself confirmed this in an Instagram post where he made it clear that the piece was really shredded and the auction house was not “in the game”.
After Sotheby’s announced last month that “Love is in the Bin” would be on sale soon, the piece made a brief world tour before returning home to London. The auction house then estimated it would go between $ 5 million and $ 8 million, a pretty substantial return for a work of art purchased for just a fraction of that price.
On Thursday, “Love is in the Bin” went up for sale in the same room where it premiered three years ago, according to Sotheby’s. But unlike back then, this week’s auction went off without incident – no artwork was created or destroyed in the process. It seemed at least a source of relief for Barker, who remarked, after all that has been said and done, that he is happy the work is “still here”, according to BBC News.