Banksy art: ‘Love is in the Bin’ Has Just Been Sold for Record $25.4 Million

The artwork beats the selling price of Game Changer

The self-shredding ‘Love is in the Bin’ is one of the most infamous artworks by Banksy. But now, it has also unarguably become the most expensive one, sold for $25.4 million (A$34million). Earlier, the mysterious artist sold the Game Changer for $23 million. However, this intriguing Banksy art has now broken the previous record.

Banksy art: Love is in the Bin

According to BBC news, nine parties continued bidding for the new Banksy art. The bidding war lasted for a good 10 minutes. Eventually, a collector who chooses to remain anonymous and is represented by Nick Buckley Wood won the bidding war.

Before the bidding began, it was expected that the painting would sell for between $5.5 million to $8.3 million. However, the actual price ended up going far higher than what the seller was hoping for. This alone suggests the significant of this new Banksy art and how much the collectors are dying to get their hands on it.

Well, even if the Banksy art got sold for a smaller price, the returns would be big for the seller. Earlier, the anonymous seller who owned the painting got it for $1.4 million from another auction. At that time, the painting was referred to as the Girl with Balloon. However, later, the bottom part of the canvas ended up in a shredder.

Hence, Banksy art was “partially destroyed”. The event was referred to as one of the most shocking ones in the world of art. The head of contemporary art at the auction house, Alex Branczik stated at that time, “It appears we just got Banksy-ed.”

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Regarding this, Banksy later said in a statement, “Some people think the auction house were in on it, they weren’t” to clear the doubts of everyone.

Of course, at that time, the seller would not have been happy with what happened to the Girl with Balloon. Now that this Banksy art has become Love is in the Bin, the seller would be pleased with the final results. After all, a selling price of $25.4 million is pretty high for a painting and marks amazing returns for the seller.