Winning bidder for shredded Banksy painting decides to keep it


The winning bidder for a Banksy painting that self-destructed during an auction last week has chose to go through with the purchase, auctioneer Sotheby's said Thursday.

A post on Banksy's official Instagram account showed the moment with the words "Going, going, gone".

But the weird turn seemed to have only bolstered the piece's legacy - and value - with Alex Branczik, Sotheby's head of contemporary art for Europe, dubbing it "the first artwork in history to have been created live during an auction".

Pest Control, a firm acting on behalf of the elusive artist, has titled the new piece Love is in the Bin.

"When the hammer came down last week and the work was shredded, I was at first shocked, but gradually I began to realise that I would end up with my own piece of art history", the auction house quoted the bidder as saying on Thursday.

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It will be on exhibited in Sotheby's Bond Street Galleries from noon until 5 p.m. GMT on October 13 and 14.

Alex Branczik, head of contemporary art for Europe at Sotheby's, says it is "the first artwork in history to have been created live during an auction".

The buyer, described as a "European collector" and "long-standing client of Sotheby's", will proceed with the purchase at the same price as auctioned, not more, as some speculated.

"Rauschenberg erased de Kooning's drawing; Gustav Metzger and Jean Tinguely pioneered auto-destructive art; Michael Landy shredded all his possessions; and what about Banksy himself and his corrupted oils?" "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.