![]() ![]() “Love is in the Bin” was offered by Sotheby’s in London, with a presale estimate of 4 million pounds to 6 million pounds ($5.5 million to $8.2 million).Īfter a 10-minute bidding war involving nine bidders in the saleroom, online and by phone, it sold for three times the high estimate to an undisclosed buyer. 14 sale.LONDON (AP) - A work by British street artist Banksy that sensationally self-shredded just after it sold at auction three years ago fetched almost 18.6 million pounds ($25.4 million) on Thursday - a record for the artist, and close to 20 times its pre-shredded price. The work will then be shown across the world-in Hong Kong, Taipei, and New York-before it returns to London ahead of the Oct. ![]() There is little risk that the rest of the painting will shred when it is sold in October, however, as the mechanism inside has been deactivated, Baker says. Love is in the Bin will be displayed at Sotheby’s in London beginning at noon BST on Saturday through Sunday, Sept. Some people think the auction house was in on it, they weren’t.”ĭuring the sale, Barker, who was the auctioneer that evening, along with Sotheby’s specialists manning the phones, appeared completely astonished when a strange alarm sound began beeping and then the painting began slipping in ribbon-like pieces through the frame, according to Banksy’s video of the sale.īaker, who was on the phone at the time, said she was “completely taken aback” after hearing the alarm that “was not a Sotheby’s noise.” 17, 2018: “Some people think it didn’t really shred. To quell suspicions that the shredding was a carefully choreographed event, Banksy wrote on Instagram on Oct. “Auctions are live theater, and as with any live production we need to prepare for all eventualities, but we were Banskyed, and you can never prepare yourself for that,” Barker said. “It turned into something that we didn’t expect, and a little bit different to what they expected supposedly.”Ĭhairman of Sotheby’s Europe recalled the incident. During the live auction, the shredding stopped about two-thirds of the way down, leaving the top portion of the painting intact within the frame-which wasn’t Banksy’s intention, Pest Control told Sotheby’s at the time, Baker says. Proceeds from the auction, which had a presale estimate range between £2.5 million and £3.5 million, were used to support the hospital and health organizations across the U.K.Ī video posted after the 2018 sale of Love is in the Bin, Banksy shows how the shredding mechanism was installed in the painting “in case it was ever put up for auction.”Īnother video showed a rehearsal for the painting’s destruction, with the work sliding through the shredder entirely so that pieces of it fell to the floor. ![]() Game Changer, an oil painting depicting a young boy playing with a toy superhero nurse, was gifted by Banksy to University Hospital Southampton in May 2020. Then in March 2021, Banksy’s Game Changer, 2020, sold at Christie’s in London for £16.76 million, marking an auction record for the artist that still stands. The presale estimate range for that painting was between £1.5 million and £2 million. A year later, for instance, Sotheby’s sold the artist’s Devolved Parliament, 2009, depicting monkeys in the role of British parliamentarians, for £9.9 million at a London auction. The market for Bansky’s art changed markedly after the shredding, she adds. Love is in the Bin’s current owner-who ended up with an unexpected work of art, very different from what she bid on-is bringing the painting back to auction as “she recognizes that it’s a piece of art history and now one of the most famous artworks in the world,” Baker says. “Presented in the museum context, it has to stand up to key works from the history of art-from Staatsgaleri said the painting should encourage public debate. In Baden-Baden, Germany, between February and March 2019, and at Staatsgaleri Stuttgart in Germany, from July 2019 to February 2020. Since the shredding incident, Love is in the Bin was exhibited at Museum “We are signaling to the market that it is the most famous and iconic artwork,” says EmmaĬontemporary art specialist and head of Sotheby’s London evening sale. But it’s the highest presale estimate range for a work by Banksy sold at auction. That price appears modest given the painting’s widespread recognition, and the subsequent records achieved for the U.K. Today, Sotheby’s estimates Love is the Bin will sell for between £4 million and £6 million when it goes up for auction at an Oct. After the work self-destructed from a mechanism hidden within the painting in front of a shocked saleroom-creating history before their eyes-art market experts speculated Banksy’s prank would elevate the price of the work.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |