“Love is in the Bin” is certainly one of the most talked-about pieces of art in recent times. It’s also a truly multi-genre piece of art; having transformed from a regular painting to performance art and finally into a piece of conceptual art. A true representation of what Banksy is today?
Despite heavy promotion from Sotheby’s, Banksy’s “Show me the Monet” didn’t break the record set by Monkey Parliament a year ago. The hammer landed at 6.4 million GBP, and the buyer has to cough up 7,551,600 GBP, which is the hammer-price plus the buyers premium.
Banksy’s take on the refugee crisis went for 2,235,000 GBP including buyer’s premium at Sotheby’s “Rembrandt to Richter” auction, which was more than double the initial estimate. The selling party was ABCD Bethlehem – a Palestinian charity, after receiving the piece as a donation from Banksy. The information sheet for the lot continues: “All proceeds will go towards building a new acute stroke unit and purchasing children’s rehabilitation equipment for BASR hospital in Bethlehem.”
The triptych has been on display at Walled Off Hotel since the opening in March 2017. Due to the corona situation, the hotel remains closed until further notice. The question is whether the hotel will open again or if the sale marks the beginning of the end for the iconic hotel. Hopefully not. See previous post: The Walled Off Hotel. Palestine, March 2017.
Work by Banksy is included in the prestigious Evening Sale at Sothebys on October 15, 2007. Among his pieces is the David statue from the Barely Legal exhibition in 2006, which sells for 204,500 GBP. Other pieces are the “Grim Reaper” sold for 78,500 GBP, “The balloon girl”, sold for 66,500 GBP, and “Kids on Guns” sold for 102,500 GBP.