Banksy Pranks Auction House, Shreds $1 Million Artwork

It was sold for £1.04 million

The artist also published a video that states that he secretly built the shredder into the frame in case the work was ever put up for auction.

Footage shown in Banksy's Instagram video appears to match the same angle caught on a mystery man's smartphone in another video at the Sotheby's auction.

One of Banksy's most widely recognised works was auctioned by Sotheby's in London on Friday night.

The painting was initially worth $391,673.

"It appears we just got Banksy-ed", said Alex Branczik, head of contemporary European art at the auction house.

So why could it be worth more?

Others were quick to take out their cell phones to record the historic moment the Girl With Red Balloon self-shredded to strips. Nor is this the first prank that Banksy has played on the public.

Sotheby's says the winning bidder for a Banksy painting that self-destructed during an auction last week has made a decision to go through with the purchase. "Come on, you should all know better that".

Never had we seen such a scene during an auction. In an Instagram post Saturday, Banksy claimed the dramatic artistic payoff had been years in the making. "We have not experienced this situation in the past", he said.

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Art prankster Banksy has struck again.

The bidding climbed to an extraordinary US$1.4 million, an amount that tied the artist's own auction record from 2008.

Does this mean Banksy's prank has backfired? John Brandler, director of Brandler Art Galleries has described Banksy as "the ultimate publicity artist" and said the stunt was "absolutely brilliant".

Art experts attempted to warn and dissuade people on social media against damaging their Banksy pieces after receiving initial enquiries who wanted to increase their value.

"It's a stencilled piece that can be easily replicated". "I like the fact that Banksy did it and created a whole story, which is a very Banksy thing to do".

Alison Young, a Professor at Criminology at the University of Melbourne, also bought into the theory that Sotheby's were involved.

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