$8.3 million shreds: Partially destroyed Banksy painting up for sale again

Three years after the auction attendees were shocked when a multi-million-dollar work of art started to be shredded before their eyes, the partially destroyed painting will be going up for sale once again under a new name.

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The painting by street artist Banksy originally called “Girl with the Balloon” had been sold for $1.4 million in 2018, CNN reported. Moments after the hammer came down, the frame encasing the work turned on and shredded the image. It stopped about halfway through, in what Banksy implied was a malfunction. He apparently intended the entire painting to be cut into strips.

It had been purchased by an anonymous European buyer, The Associated Press reported. The buyer went through with the purchase after the painting was damaged.

“It was a big moment because nothing like that had been done before,” art historian Matthew Israel, told CNN in an email. He added that the painting’s shredding is “entirely at odds with the aims of the auction house, where the condition of an artwork is paramount and the knowledge and expertise about it is core to its authority and value.”

The artwork, now named “Love is in the Bin,” is still in the frame that held it that day, hanging half in and half out of the device, the AP reported.

It will go up for auction by Sotheby’s next month and is expected to bring in up to $8.3 million.

Before the sale, “Love is in the Bin” will go on tour to London, Hong Kong, Taipei and New York, the AP reported.