Banksy’s self-destructing art more valuable shredded

STREET artist Banksy’s iconic print “Girl With Balloon” immediately shredded after being sold at auction. But it could have a surprise result.

Sotheby’s ‘just got Banksy-ed’ but could the shredded artwork be worth even more now? Picture: Instagram Banksy

THE sensational prank, orchestrated by elusive street artist Banksy, shocked not just those in the art world.

But now, experts say the staged shredding of the artwork may just add value to the piece.

MyArtBroker, which sells Banksy prints online, estimated the Banksy piece has increased in value by at least 50 per cent.

in its shredded state and we'd estimate #Banksy has added at a minimum 50% to it's value, possibly as high as being worth £2m. @BBC_HaveYourSay #BreakingNews

— MyArtBroker (@myartbroker) October 6, 2018

Girl With Balloon sold for $1,936,000 on the night of the auction, but now the print could be worth $3,719,350, or more.

MyArtBroker said the shredding of the print is “now part of art history”.

Signed, authenticated Banksy prints sell for upwards of $214,000, but according to MyArtBroker, the attention surrounding the auction prank will likely increase the price even further.

Joey Syer, co-founder of https://t.co/qdztyQA0MT says:#Banksy #GirlwithBalloon is one of the most iconic images of recent times. It’s seen some of the sharpest price increases over previous years with signed/unsigned prints and canvass showing an average of +20% yoy. Prices now

— MyArtBroker (@myartbroker) October 6, 2018

are regularly exceeding £115,000 for signed authenticated prints.

The auction result will only propel this further and given the media attention this stunt has received, the lucky buyer would see a great return on the £1.02M they paid last night, this is now part of Art History

— MyArtBroker (@myartbroker) October 6, 2018

The buyer is unknown and was reportedly bidding via telephone and “surprised” by the stunt.

Speaking to The New York Times, 20-century British art dealer Offer Waterman said: “It’s become worth more as a conceptual moment than as a work of art itself.”

Perhaps Banksy summed it up best, albeit rather cryptically, when he revealed how he pulled off the elaborate prank.

In an Instagram post which revealed how he put the shredder into the frame, Banksy quoted Picasso: “The urge to destroy is also a creative urge.”

The anonymous artist has since revealed how he pulled off the shredding of Girl With Balloon just moments after it sold at auction.

The frame was fitted with a shredding device “a few years ago”, according to a video posted on Banksy’s Instagram, “in case it was ever put up for auction”.

Banksy’s opinion on auctions has been made very clear.

One of his works depicts a crowd at an auction, with a framed work within the artwork saying, “I can’t believe you morons actually buy this sh*t.” Ironically, Moronsalso went to auction and is currently being sought out by an active buyer on MyArtBroker.

It appears Sotheby’s had no knowledge of the prank Alex Branczik, head of contemporary European art at the auction house merely said: “It appears we just got Banksy-ed.”

The intact Girl With Balloon. Picture: Sotheby’s/via AP

It is unknown what will happen now, but the auction house has claimed it was “in discussion about the next steps” with the buyer.

“We have not experienced this situation in the past where a painting spontaneously shredded, upon achieving a record for the artist,” Mr Branczik said.

— with wires