LONDON – A work by British street artist Banksy, which thrilledly cut itself after being sold at auction three years ago, received about 18 18.6 million pounds (25 25.4 million) on Thursday – a record for the artist. And about 20 times the price already cut
“Love is in the Bin” was presented by Sotheby’s in London, with estimates ranging from 4 4 million to مل 6 million (5 5.5 million to 2 8.2 million).
After a 10-minute bidding war, new bidders in the seller’s room, both online and by phone, were sold to an unknown buyer at three times the price. The sale price of ، 18,582,000 ($ 25,383,941) includes an auction house fee called the buyer’s premium.
The piece consists of a half-cut canvas with an ornate frame with a spray-painted image reaching for a heart-shaped red balloon.
When it was last sold in Sotheby’s in October 2018, the piece was known as “Balloons with a Girl”. Just as an anonymous European buyer made a winning bid – for 1 1 million (4 1.4 million) – a printed shredder embedded in Banksy’s frame, which hung half the canvas from the frame into strips.
Sotheby’s was criticized for failing to find the hidden shredder. But the 2018 buyer decided to continue the purchase, a decision that proved to be correct after the increase in the cost of work on Thursday.
The work quickly became Banksy’s most famous, and Sotby sent him on a tour of cities, including New York and Hong Kong, before Thursday’s auction.
Auctioneer Oliver Barker joked that he was “scared” of bringing down the hammer to end Thursday’s sale. There was a commotion in Sotheby’s staff until the last moment that Banksy had planned another surprise.
Alex Branzic. Schroeder’s chairman of modern and contemporary art, Schreiding, called it “one of the easiest moments in the performing arts of this century.”
“It’s all about continuing the journey of the legendary piece and putting it back between us, presenting it tonight in the same room that the artist made it for,” Branzic said. “Banksy is no stranger to making headlines, and this latest chapter of his story has engulfed the imagination around the world – we can only begin to guess what might happen next.”
Banksy, who never confirmed his full identity, began his career in Bristol, England. Her mischievous and often satirical photos include kissing two male police officers, armed riot police with yellow smiling faces and a chimpanzee with the words, “Laugh now, but one day I’ll be in charge.”
Many of his works sold for millions at auction. In March, a Banksy wall in honor of UK health workers, previously painted on a hospital wall, sold for 16.8 million pounds (.2 23.2 million) at Christie’s auction, a record for the artist as of Thursday.
The “balloon with the girl” was originally stenciled on a wall in east London and has been relentlessly reproduced, making it one of Banksy’s most famous paintings.