Banksy‘s shredded artwork, Love is in the Bin, just resold at Sotheby’s for $25.4m USD. That is an almost 18 times increase of the $1.4m USD it initially sold for on that unforgettable moment in the history of contemporary art. The winning bid was over three times Sotheby’s presale estimate and sold to an anonymous Asian collector.
Formerly known as Girl With Balloon, the undisclosed European collector hailed the shredded art as “the first work in history ever created during a live auction.” In true Banksy fashion, the elusive artist released a video showcasing how he pulled the prank off, noting that it was supposed to shred entirely but malfunctioned at the last second. “The urge to destroy is also a creative urge,” Banksy wrote on Instagram shortly after the event.
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Who would have thought that an act that was meant to mock the art world elite, would in turn reward them? Nonetheless, the stunt is being hailed by many, such as BBC News art editor, Will Gompertz, “as one of the most significant artworks of the early 21st Century.”
Also in the news, a rare Keith Haring mural will exhibit at the New York City Center.
