ibusinesslines.com October 15, 2018

Banksy work disappears, literally, before the eyes of auction-goers

11 October 2018, 05:30 | Myron Mathis

Here is how Banksy shredded a painting worth £1million

Here is how Banksy shredded a painting worth £1million

Speculation is growing that Banksy, the world-famous guerrilla artist whose identity remains unknown, was sitting in the Sotheby's auction in London on Saturday.

The art world was left in shreds when Banksy's famous Girl with Balloon - one of the artist's most famous works depicting an image of a girl releasing a red balloon - self-destructed.

Banksy bragged about his latest stunt in a post on Instagram, where he wrote, "going, going, gone".

And the Sotheby's head of contemporary art moaned "we've just been Banksy'ed".

"Girl With Balloon", one of Banksy's most widely recognised works, shows a girl reaching towards a heart-shaped balloon and was the final work sold at the auction on Friday night, the BBC reported.

The clip is captioned "The urge to destroy is also a creative urge" - a quote from 19th-century anarchist Mikhail Bakunin which Banksy attributes to Pablo Picasso.

There's no word on how the shredder started operating at the key moment after the auction, though it could have been activated by a remote mechanism. The sale price equalled the artist's previous auction record of about $1.35 million.

The dramatic moment prompted a slew of questions - especially since Banksy claims to have installed the machinery years ago.

While Banksy's stunt has been called a conceptual master stroke, pulling it off was no easy task.

He made that very clear in 2007, when he posted an image on his website of a packed auction room bidding on a framed painting of the words: "I can't believe you morons actually buy this shit".

Banksy's works have often commented on the ridiculous nature of the contemporary art world, and the increasingly high values of his own works.

The artwork was signed and dedicated and the vendor acquired it from the artist in 2006, the auction house said.

Initial concern for the unlucky new owner of the piece soon evaporated, as art experts tipped the half-destroyed work was probably now worth more.

"It's become worth more as a conceptual moment than as a work of art itself", Waterman told the Times.

In anonymous interviews, Banksy has cited Del Naja as an influence - and he is credited as being the first graffiti artist in Bristol.

Others said the stunt had increased the value of the work, while there were also theories over whether the buyer would be expected to go through with the purchase.

Other News

Trending Now

Oil prices steady after Iranian exports fall further
The Turkish president, Recep Tayyip Erdoğan, has promised a transparent investigation into Khashoggi's fate. He said he'll try to force a vote in the Senate this week blocking USA arms sales to Saudi Arabia.

Record-setting Hurricane Michael threatens massive destruction along Florida Panhandle
We do have a chance for severe weather with any squall that moves through and an isolated tornado can not be ruled out. Waves crash along a pier as the outer bands of Hurricane Michael arrive on October 10, 2018 in Panama City Beach, Fla.

Google Plus to close after data exposed
It opted not to report it, "in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage". The search giant states that it wasn't able to maintain "a successful Google+ product that meets consumers' expectations".

How will Tropical Storm Michael affect North Carolina?
Hurricane force winds extend 45 miles outside the center, and tropical storm force winds extend outwards 175 miles. A Hurricane Watch has been issued from the Alabama-Florida border eastward to the Suwannee River.

Red Sox Blast 'New York, New York' After Eliminating Yankees
To open their league championship series, the Red Sox and Houston Astros are sticking with their rotation from the ALDS. Martinez's sacrifice fly, run-scoring hits by Ian Kinsler and Nunez and a solo home run by Christian Vazquez.

Trump calls USA stock sell-off 'a correction'
After a long stretch of relative calm, the stock market has suffered sharp losses over the last week as bond yields surged. In Paris, shares in Kering fell almost 10 percent, LVMH over seven percent and Hermes around five percent.

Brexit deal next week "within reach" - Barnier
The Budget is due on October 29, after the next European Union summit and before any special Brexit summit that is expected to finalise the deal.