Banksy’s Shredded Painting Auctioned Off for Record $25.4 Million
Written by SOURCE on October 16, 2021
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Banksy set a new personal record this week, as the British street artist’s self-destructing piece “Love is in the Bin” sold for a record $25.4 million at a Sotheby’s auction in London on Thursday.
The sale broke Banksy’s record from March when he sold a piece for around $22 million, with proceeds benefiting a UK charity.
Almost three years ago to the day, “Love is in the Bin” became a viral sensation when the original work, “Girl With Balloon,” became “the first artwork in history to have been created live during an auction.” After selling for a then-record $1.4 million, the artwork was sliced when a hidden shredder was activated.
Art historian, author and co-founder of Artful, Matthew Israel spoke to CNN about the iconic piece: “It was a big moment because nothing like that had been done before,” Israel said. “The idea of a self-destructing artwork was entirely at odds with the aims of the auction house, where the condition of an artwork is paramount and the knowledge and expertise about it is core to its authority and value.”
