Banksy’s Shredded US$1.4 Million Painting Gets A New Name, Owner Confirmed
By Izza Sofia, 12 Oct 2018
‘Love is in the Bin’, image via Sotheby’s
Banksy’s Girl with Balloon painting that passed through a concealed shredder, seconds after being auctioned off for US$1.4 million by major art dealer Sotheby’s, has been given a new name: Love is in the Bin.
Sotheby’s Head of Contemporary Art Alex Branczik explained that Banksy had created an artwork at the auction, rather than destroyed one.
Inside a press statement, Branczik explained, “Banksy didn’t destroy an artwork in the auction, he created one. Following his surprise intervention on the night, we are pleased to confirm the sale of the artist’s newly-titled Love is in the Bin, the first artwork in history to have been created live during an auction.”
The winning bidder of Banksy’s Girl with Balloon has also been confirmed to acquire the shredded artwork. The buyer, who is a female European collector and long-standing client of Sotheby’s, will purchase the artwork at the same price that was evaluated during the auction itself.
Speaking about the artwork, the buyer commented, “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.”
Love is in the Bin will be made available for public viewing at Sotheby’s New Bond Street galleries on 13 and 14 October from 12pm to 5pm.
‘Love is in the Bin’ will be on view to the public in Sotheby’s #London galleries on Saturday and Sunday 13th and 14th October from noon until 5pm. Final entry to the galleries at 4.40pm. https://t.co/aEgKriCpnc #LoveIsInTheBin #Banksy pic.twitter.com/jILCjKlAuN— Sotheby's (@Sothebys) October 11, 2018
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We are pleased to announce that the winning bidder on @Banksy’s ‘Girl with Balloon’ last Friday night in London has confirmed their decision to acquire the new work that was created in our salesroom. Newly titled ‘Love is in the Bin’, the piece has become the first artwork in history to have been created live during an auction. The buyer, a female European collector and a long-standing client of Sotheby’s, is proceeding with the purchase at the same price as was achieved in the room on the night. ‘Love is in the Bin’ will be on view to the public in Sotheby’s New Bond Street galleries in #London on Saturday and Sunday 13th and 14th October from noon until 5pm. Final entry to the galleries at 4.40pm. #LoveIsInTheBin #SothebysContemporary #Banksy
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[via Forbes, opening image via Sotheby’s]
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