$1.5 Million Graffiti Gets Shredded Live During Auction
Sotheby’s Contemporary Art Evening Auction in London was eventful to say the least. When the hammer was struck for a winning bid of 1,042,000 GBP, a beeping sound alerted the audience and the 27 bidders to a sold and shredding million dollar Banksy graffiti (Girl with Balloon). Banksy is an anonymous England-based street artist, vandal and political activist known for pranking the public. Once he created a pop-up shop with all his artworks and sold them for around $60 on New York streets in Central Park. Those painting would be worth tens of thousands if auctioned off. Funny enough, Banksy was most likely at the auction itself. Moments after the shredding, he posted a video on his instagram (@banksy) with a video and the caption “Going, going, gone…”. He later posted another video of how he built the shredder and captioned a Picasso quote “the urge to destroy is also a creative urge.” Although shredded, it is now considered to be a new art piece and has been renamed to “Love is in the Bin.” What’s most intriguing is the fact that the ‘new’ art piece is worth much more now. Making history and grabbing the attention of the world, it would probably sell for double or more if auctioned off again. Although the buyer was not identified, she responded to the event by saying "When the hammer came down last week and the work was shredded, I was at first shocked, but gradually I began to realize that I would end up with my own piece of art history."