Banksy shredded artwork sells for over $25 million

A work by British street artist Banksy that self-shredded just after it sold for about €1.2 million ($1.4 million) has sold again for an astonishing €22 million ($25.4 million) at Sotheby's auction house in London on Thursday.

Love Is in the Bin, formerly called Girl With Balloon, had an estimated selling price of $7 million (€6 million). After the sale of the original canvas in October  2018, the painting began to self-destruct in a shredder hidden in its frame moments after bidding ended.

The lower portion of the work was shredded but stopped before more of the work could be damaged.

Sotheby's said that the result of the stunt is "the ultimate Banksy artwork."

After a 10-minute bidding war involving nine bidders in the saleroom and more online and by phone, the artwork sold for over for over three times the highest estimate.

Who is Banksy?

The truth is, no one really knows. The mysterious artist has never been identified. He started his career as a graffiti artist, spray painting buildings and walls in Bristol, England. 

His often-humorous images and distinct style have made him one of the world's most well-known artists.

Many of his works adorn random walls around the world. Some of these pieces have sold for millions, or have had to be protected from vandals. Earlier this year, a Banksy mural in honor of UK healthcare workers sold for €20 million.

kb/wmr (AP, dpa)