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Banksy’s jagged painting just re-sold for $ 25.4 million

Written by Jacqui Palumbo, CNN

Banksy’s painting that partially self-destructed at auction three years ago has again sold for a staggering £ 18.5million ($ 25.4million).

New The auction for “Love is in the Bin” took place on Thursday at Sotheby’s Contemporary Art Evening Sale in London and became the artist’s record, surpassing the “Game Changer” sale there. is one year old. The artwork, which portrayed healthcare workers as superheroes, sold for £ 16.7million ($ 23.1million) to benefit UK hospitals.

“Love is in the Trash,” renamed “Girl with the Balloon”, had a high estimate of £ 6million ($ 8.3million), six times its previous value of £ 1million (1 , $ 4 million). The artwork remains half-ragged in its frame, which hid a mechanism to self-destruct after the hammer fell at its original sale. Banksy later involved the shredder had malfunctioned, preventing the work from turning entirely to crumbs.

Banksy’s ragged work of art has been renamed

“It was a great moment because nothing like this had been done before,” said Matthew Israel, art historian, author and co-founder of Artful, in a previous email interview with CNN. The idea of ​​a self-destructive work of art was, he added, “entirely at odds with the goals of the auction house, where the condition of a work of art is paramount and the knowledge and expertise about it are at the heart of its authority and value ”.

The identity of the seller at Thursday’s auction was not disclosed, although Sotheby’s described him as a European collector and a long-time client of the auction house. The new buyer has the option to pay in cryptocurrency.

A few months after the first auction in 2018, the Frieder Burda Museum in Baden-Baden, Germany became the first public space to display “Love is in the Trash”. Prior to this sale, the painting was exhibited in London, Hong Kong, Taipei and New York.

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