British street artist Banksy shocked the world, and the buyer, when he self-destructed his 'Girl with Balloon' spray paint canvas moments after it sold for $1.86 million.
Banksy - whose real identity remains a mystery - posted on his Instagram account a video revealing he had replaced a remote control shredder into the frame of the artwork in case it was ever sold at an auction.
The moment one of Banksy's most famous pieces of work was sold to an undisclosed telephone buyer, the work was partially shredded.
"It appears we just got Banksy-ed," said the Senior Director and Head of Contemporary art Alex Branczik.
But the stunt raised questions online whether the appreciation of the artwork will increase as a consequence.
Joey Syer, the co-founder of MyArtBroker which resells Banksy pieces, predicted the artwork could possibly double in value.
"Prices now are regularly exceeding £115,000 for signed authenticated prints," he said in a statement on their social media account.
“The auction result will only propel this further and given the media attention this stunt has received, the lucky buyer would see a great return on the £1.02m they paid last night. This is now part of art history in its shredded state and we’d estimate Banksy has added at a minimum 50 per cent to its value, possibly as high as being worth £2m plus.”
Professor of criminology Alison Young, who has an expertise in graffiti and street art, said the artwork could increase in value without even being patched up.
"It could easily be displayed as is with the shredded section dangling... you could do many things with it. That becomes part of the process of the intervention, I guess, with what happens next," she told SBS News.
"When Banksy started, no one would have guessed that six-figure sums were a possibility for a street artists' artwork, yet here we are," she added.
Did anyone else know about it?
The New York Times wrote that sceptics were wondering whether Sotheby's were actually taken by surprise following the stunt.
"The frame would presumably have been rather heavy and thick for its size, something an auction house specialist or art handler might have noticed. Detailed condition reports are routinely requested by the would-be buyers of high-value artworks," read the New York Times.
Dr Bendor Grosvenor, an art historian and former dealer, took to Twitter to express his doubts over the 'PR' stunt.
Professor Young also said she wouldn't be surprised if the auction house was aware of the shredder in the frame before the sale.
"I actually think the auction house was probably in on the intervention. My sense is this couldn't have happened without Sotheby's knowing it was going to happen. My guess would be that Banksy, the auction house, the buyer and the seller all worked this out beforehand," she told SBS News.
"The auction house doesn't stand to lose anything by Banksy being critical of them. Banksy gains through his ability to offer critical comment on the way the auction houses in the art market work."
However, Dough Woodham - founder of Art Fiduciary Advisors and a former president of Christie's for the Americas, told the Financial Times that he doubts Sotheby's was in on the stunt.
2012: Banksy's 'Girl and Balloon' which was painted on an Ikea frame at Bonhams auctioneers. Source: Getty Images
“If it knew something and did not disclose it - and if a buyer could prove that - it opens up a can of worms in terms of liability for the auction house," he said.
But Mr Branczik said that he was "not in on the ruse" according to The Art Newspaper.
'Girl with Balloon' was voted UK's best-loved artwork in 2017 and originally appeared on a wall in Great Eastern Street in Shoreditch, east London.
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