Banksy: Buyer Of Shredded Artwork Is Going Through With Sale

After partial destruction of the painting was given a new name - Love in a trash can.

After selling for $1.4 million, the painting suddenly slipped through a remote-controlled shredder hidden in its frame. "The idea of him colluding with an institution to pull off a stunt is the complete antithesis to his philosophy", Steve Lazarides, Banksy's former gallerist said, cited by the publicly listed auction house in the release.

On October 5, anonymous street artist and art-world prankster Banksy shocked onlookers at Sotheby's (and subsequently the world) when the artist's beloved "Girl with Balloon" was sold at its London auction for the equivalent of over $1.2 million then proceeded to "self-destruct".

It's official: Banksy's "Girl With Balloon" is now a new piece of performative art.

Banksy himself admitted responsibility for the shredding via a video posted to Instagram, although how the shredder was activated has not been made clear, leading some to suggest that someone at Sotheby's was in on the prank. Would its new, half-shredded form be worth less money or more, given its elevated status after the global media attention?

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".

Sotheby's called it "the first artwork in history to have been created live during an auction".

The European woman who bought the piece, who does not want to be named, said: "At first I was shocked, but I realised I would end up with my own piece of art history".

Banksy's painting Girl with Red Balloon was shredded after its sale at a Sotheby's auction in London.