Art collector plans to keep Banksy's painting that can self-destruct

The 2006 work, 'Girl with Balloon,' will be renamed 'Love is in the Bin' to reflect its changed state.

Agencies
By Katya Kazakina

The anonymous buyer of a Banksy painting that mysteriously shredded just after it was auctioned off at Sotheby’s last week plans to keep the work.

The 2006 work, "Girl with Balloon," will be renamed “Love is in the Bin” to reflect its changed state, Sotheby’s said Thursday in a statement. The buyer is a female collector from Europe, the auction house said.


“Banksy didn’t destroy an artwork in the auction, he created one,” Alex Branczik, head of contemporary art in Europe for Sotheby’s, said in the statement.

News that the painting self-destructed went viral even before an Instagram account tagged to Banksy suggested he was behind the incident. In a video, a person purported to be the anonymous graffiti artist is shown installing a shredder inside the gilded frame “in case it was ever put up for auction.”

Just after the painting was sold on Oct. 5 for 1.04 million pounds ($1.37 million), an alarm sounded and then the canvas began sliding through the bottom of the frame, emerging in shreds as those in attendance watched in disbelief.
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Sotheby’s said it will display the work Saturday and Sunday from noon until 5 p.m. in London.

Scribbles, Scratches And Other Abstract Pieces Of Art That Made Millions
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Who says a scribble or a scratch is worthless? Check out these abstracts which sold for a fortune thanks to their minimalistic allure.
Who says a scribble or a scratch is worthless? Check out these abstracts which sold for a fortune thanks to their minimalistic allure.
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(Image: www.christies.com)
Cost: $70.5 million What seems like chalk scribbles on a slate is actually an oil-based house paint and crayon artwork on canvas by Edwin Parker ‘Cy’ Twombly Jr, which fetched a record price for the..
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Cost: $1.65 million

Once part of the Robert and Jean Shoenberg collection, this 1961 artwork came into the market at Christie’s 2008 sale. Kelly was a camouflage artist during his stint in the army in the 1940s. He was a part of the unit known as ‘the Ghost army’ comprising artists and designers who painted objects that would misdirect enemy soldiers.

(Image: www.christies.com)
Cost: $1.65 million Once part of the Robert and Jean Shoenberg collection, this 1961 artwork came into the market at Christie’s 2008 sale. Kelly was a camouflage artist during his stint in the army ..
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Cost: $86.88 million (including buyer’s premium)

The vibrant orange, red and yellow coloured rectangles was part of art collector David Pincus’s estate and was brought to the market by Christie’s in 2012 where its sale set the record for post war/ contemporary art at the time. Rothko’s 1961 work was in Pincus’s possession for four-and-a-half decades. The final bid was double the highest estimate of the artwork.

(Image: www.markrothko.org)
Cost: $86.88 million (including buyer’s premium) The vibrant orange, red and yellow coloured rectangles was part of art collector David Pincus’s estate and was brought to the market by Christie’s i..
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The 24 sharp vertical tears on a crimson, water-painted seven- foot wide canvas was contested for about a minute and 30 seconds during Sotheby’s 2015 auction. Yet, the painting was sold below the low presale estimate of $15 million. Turns out, Fontana was inspired to paint this artwork watching Red Desert, a 1964 movie created by Michelangelo Antonioni, which won the Golden Lion in that year’s Venice Film Festival. In fact, the inscription on the back of the painting, in Italian, reads, “I returned yesterday from Venice, I saw Antonioni’s film!!!”

(Image: www.sothebys.com)
Cost: $16.2 million The 24 sharp vertical tears on a crimson, water-painted seven- foot wide canvas was contested for about a minute and 30 seconds during Sotheby’s 2015 auction. Yet, the painting ..
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Cost: $84.16 million

Newman’s 1961 stark black palette on a pale canvas was part of Christie’s post-war and contemporary evening sale auction in 2014. Newman started dabbling in abstract expression while he was mourning the death of his younger brother George. About the painter’s black fixation, art expert Thomas Hess recalled Newman saying, “When an artist wants to change, when he wants to invent, he goes to black as it is a way of clearing the table-of getting to new ideas.” The painting is in the possession of a private collector now. Its previous owner had the painting for nearly 40 years.

(Image: www.christies.com)
Cost: $84.16 million Newman’s 1961 stark black palette on a pale canvas was part of Christie’s post-war and contemporary evening sale auction in 2014. Newman started dabbling in abstract expression..
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