“Every act of creation is first an act of destruction.”
– Pablo Picasso
The buyer of the Banksy print that was partially shredded just after its sale at auction will go ahead with the £1 million purchase amid speculation that its price will have significantly increased following the incident.
The buyer, a female European collector who is a regular client of Sotheby’s, confirmed on Thursday that she would go ahead with the £1.04 million purchase. “When the hammer came down last week and the work was shredded, I was at first shocked, but gradually I began to realize that I would end up with my own piece of art history” she said.
In the meantime, Banksy posted a video on social media stating that the shredding device was built into the frame of the painting “a few years ago… in case it was ever put up for auction”. Banksy’s agent reported last week that Banksy was unlikely to have cooperated with Sotheby’s as he would not collude with such an establishment.
Sotheby’s Head of Contemporary Art in Europe, Alex Branczik stated that: “Banksy didn’t destroy an artwork in the auction, he created one. Following his surprise intervention on the night, we are pleased to confirm the sale of the artist’s newly titled Love Is in the Bin, the first artwork in history to have been created live during an auction.”