‘Going, Going, Gone...’: Banksy Artwork Shreds Itself After Sale

Banksy painting girl with balloon

Parachuting Rat was a series of artworks in Melbourne, Australia, created by the Bristol artist.

One potential outcome, according to a spokeswoman, is that the destroyed work could be preserved as a document of the guerrilla tactic.

An auction of the artist's popular work, "Girl With Balloon", ended with the shocking display of the the piece shredding itself immediately after the winning bid of 1.04 million pounds was cast.

The painting was sold to a private bidder, and Sotheby's was "in discussions" about proceeding further, the auction house said in a statement.

"It appears we just got Banksy-ed", noted Alex Branczik, Sotheby's head of contemporary art, Europe.

Whether he expected the piece to increase in value is another story, which we can sum up by saying, "I don't feel that I need to explain my art to you, Warren".

It was instantly recognizable as a Banksy to anyone familiar with his work. Sotheby's said the painting, which depicts a small child reaching up toward a heart-shaped red balloon, was signed. The painting was accompanied by the words "there is always hope" written just behind the girl.

This isn't Banksy's first time at the rodeo and even if it was, well, that rodeo would be covered in priceless graffiti. It originally appeared on a wall on Great Eastern Street, London, and a year ago it was voted the nation's favourite artwork.

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The move has also been praised as "genius" by fans.

The painting's auction tied the record for most money earned for a piece of Banksy's work.

The art world has been stunned by the latest prank by elusive artist Banksy.

After selling at auction for £1.04m, the picture by the mysterious by highly celebrated street artist and political activist, began to shred itself through a mechanism hidden in the bottom of the frame.

The image was later projected on the Eiffel Tower and Nelson's column in Paris.

So, we're not completely surprised that just yesterday, he pulled off his most memorable (and shocking) art show yet.

Banksy initially shared an image of the artwork being shredded on Instagram and captioned it "going, going, gone".

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