A work by British street artist Banksy that sensationally self-shredded just after it sold for $1.4 million has sold again for $25.4 million at an auction.
FILE - In this Sept. 3, 2021 file photo, art handlers at Sotheby's auction house hold Banksy's 'Love is in the Bin', before it returns to auction at Sotheby's, London, The work by British street artist Banksy that sensationally self-shredded just after it sold for $1.4 million could make several times that price at an auction on Thursday, Oct. 14, 2021.
After a 10-minute bidding war involving nine bidders in the saleroom, online and by phone, it sold for three times the high estimate. The sale price of 18,582,000 pounds includes a sales tax known as a buyer’s premium. Sotheby’s received some criticism at the time for failing to spot the hidden shredder. But the 2018 buyer decided to go through with the purchase, a decision that was vindicated on Thursday as the work's price soared.
“It has been a whirlwind to follow the journey of this now legendary piece and to have it back in our midst, offering it tonight in the very room it was created by the artist,” Branczik said. “Banksy is no stranger to making headlines and this latest chapter in his story has captured imaginations across the world — we can only begin to guess what might come next.”
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