Published: Sat, October 13, 2018
Culture | By Jeremy Gray

Banksy: Buyer Of Shredded Artwork Is Going Through With Sale

Banksy: Buyer Of Shredded Artwork Is Going Through With Sale

The corresponding video he posted on his Instagram page.

The quote, which he mistakenly (maybe?) attributed to Picasso actually comes from 19th-century Russian theorist of anarchism, Mikhail Bakunin. Banksy did this in case the eventuality arose that the painting was put up for sale on auction.

Sotheby's said it will display the work Saturday and Sunday from noon until 5 London.

The buyer of the painting "has confirmed its decision to acquire the new work that was created that night", said Sotheby's in a press release, stating that the price at which it had been assigned, 1,042 million pounds (1,185 million euros), was maintained. It is worth noting that while the painting was worth millions in the bid, Banksy would not have gotten a single cent since it was an auction resale, not that Banksy would have wanted a piece of the cake, though.

Banksy's works have often commented on the ridiculous nature of the contemporary art world, and the increasingly high values of his own works.

The announcement follows a week of negotiation between the buyer and the auction house and unprecedented speculation over the stunt.

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Artcurial will shortly auction three Banksy paintings, along with a resin-crafted figure of a rat holding a paintbrush signed by the artist.

"It appears we just got Banksy-ed", Alex Branczik, Sotheby's senior director and head of contemporary art in Europe, said, according to the BBC.

Banksy, who has never disclosed his full identity, began his career spray-painting buildings in Bristol, England, and has become one of the world's best-known artists. In 2006 he had built a life-size image of a hooded Guantanamo Bay detainee inside a ride in Disneyland themed park in California.

Cameras snapped, onlookers gasped, and auction room porters scrambled to remove the artwork from the wall, leaving shreds of the painting hanging from the bottom of the frame.

The angle from which the man was filming could also correspond to the angle used in Banksy's video version of events.

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