Banksy bidder still wants to pay $1.96m for shredded art

Banksy'Girl With Balloon Painting Worth Double After Self Destructing at AuctionMore

The anonymous buyer of a Banksy painting that was partially shredded at an auction has agreed to proceed with her payment of £1.04 million pounds ($AU1.9 million) despite the damage to the artwork, the auctioneers say.

Sotheby's said the painting has now been re-titled Love is in the Bin and authenticated by Banksy's Pest Control agency.

Branczik says the new work is "the first in history to have been created live during an auction".

Girl with ball was sold at auction on October 5, but right after trading half of the canvas was cut picture frame hidden in a shredder.

In the statement, Banksy's former gallerist Steve Lazarides shut down any further speculation that the stunt was done in collaboration with the auction house.

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Banksy himself admitted responsibility for the shredding via a video posted to Instagram, although how the shredder was activated has not been made clear, leading some to suggest that someone at Sotheby's was in on the prank.

"When the hammer came down last week and the work was shredded, I was at first shocked", she said in a statement, "but gradually I began to realize that I would end up with my own piece of art history". The art world was in shock at the never-before-seen stunt, and experts soon began speculating that the piece was perhaps worth even more in its destroyed state.

Other Banksy works are due to go under the hammer and auctioneers have said they can't guarantee the items will "shred or explode".

In another tweet, the auction house said, "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".

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