Banky's secret shredder stunt will only raise prices for his work

Banksy girl with balloon self destruct Sothebys shredder

The iconic Banksy painting that self-destructed at auction last week has been authenticated by Pest Control, the elusive street artist's authentication body. "It is a new and all the more valuable work of art, a unique document of an exciting moment in contemporary art history".

As if the rumour mill had not turned enough over the past week, Sotheby's now says Banksy did not destroy a work of art during its contemporary evening sale on 5 October-he created one.

"Following his surprise intervention on the night, we are pleased to confirm the sale. the first artwork in history to have been created live during an auction". The video is captioned with a quote by the Spanish artist Picasso, who had said the urge to destroy was also a creative urge.

Darren Julien, president of Julien's Auctions, said: "We can't guarantee that our four Banksy's will automatically shred or explode but they will sell to the highest bidder".

MyArtBroker.com co-founder Joey Syer told The Guardian that Banksy works of art are increasing in value, year after year.

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"We have not experienced this situation in the past... where a painting spontaneously shredded, upon achieving a [near-] record for the artist", he said "We are busily figuring out what this means in an auction context". The auction house was selling the painting, the 2006 stencilled spray-painting "Girl With Balloon".

Banksy, who has never disclosed his full identity, began his career spray-painting buildings in Bristol, England, and has become one of the world's best-known artists.

However, some auction flipping experts claimed that Banksy's stunt would only cause the value of the shredded painting to increase by about 50 percent more, meaning Banksy might have accidentally increased the value of said painting, despite its state.

The angle from which the man was filming could also correspond to the angle used in Banksy's video version of events.

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