>The buyer, a female European collector and a longstanding client of Sotheby’s, confirmed on Thursday that she would proceed with the £1.04m deal. “When the hammer came down last week and the work was shredded, I was at first shocked, but gradually I began to realise that I would end up with my own piece of art history,” she said.
>Alex Branczik, Sotheby’s head of contemporary art, Europe, said: “Banksy didn’t destroy an artwork in the auction, he created one. Following his surprise intervention on the night, we are pleased to confirm the sale of the artist’s newly titled Love Is in the Bin, the first artwork in history to have been created live during an auction.”
>He went on to canonise Banksy’s act, placing it within a long tradition of artists, such as Rauschenberg, Metzger, Tinguely and Landy, who have variously destroyed both art and their own possessions. “Banksy has cleverly nestled himself in the pages of art history,” Sotheby’s said.
Only a retard would pay that much money for a non shredded copy, no wonder they're retarded to continue with the purchase
Leo Lee
Of course she'd go through with it. She now has Banksey's most famous work. It's probably now worth 5 times what she paid for it. What a windfall.
Chase Sanders
this, assuming it wasn't a means to launder money anyway
Lucas Turner
Dude is that a Banksy original?
Hudson Cooper
>Buy banksy >gets shredded >part of the art rejects capitalism by shredding itself >becomes more valuable So what's the problem here? Art isn't supposed to make any sense anymore anyways.
Like said, the artwork is probably more valuable for the provenance and notoriety.
Gavin Johnson
Ever see that one episode of Dilbert? >Once a soup can became art, all the rules went out the window Sums it up quite nicely desu
Robert Scott
Liberals are so stupid...this is hilarious
Robert Gonzalez
>banksy >rejecting capitalism
christ on a bike the collective iq of this board has plummeted since the election
Evan Gutierrez
This. How could anyone not see this?
Nathaniel Miller
this. Basically all fine art sales are money laundering
Anthony Sanders
>money laundering >matters what the shit is
Caleb Roberts
It’s already been appraised at twice what she bought it for
Henry Cox
>And that trash bag in the corner is my most expensive piece of art. I paid $1.4 million for it.
Of course she went through with it... It's half shredded, and it's the only / first piece of art to have ever done this. If anything, the piece is more famous because of what happened and thus worth more. Even if you're buying it for just the significance of the piece itself, you got more than you paid for.
Colton Howard
It's not about the quality of the work to these people. It's about throwing their money around. That's the only thing they respect.
Luis Hill
>R*ddit spacing
Ayden Bell
Literally who and what. Looks like shit to me.
Juan Mitchell
Over your head obviously why the fuck did you bother posting? Get the fuck out moron
Nicholas King
>someone spends millions of dollars on a basic as fuck art project >dood u pleb it’s over your head moron this is art history POWERFUL Kill yourself you simple brainwashed fuck
Ryder Stewart
That's what makes it art
Noah Diaz
Explain yourself. How is this crap worth a million?
Eli Thomas
>rejects; embraces HILARIOUS, all the way to the BANKSY
Julian Mitchell
Absolutely, it’s a jewish money laundering scheme.
Leo Bell
artist creates thing in hours to minutes 5k,50k,500k pls gibs thanks someone eventually pays artists dont ask where money comes from most artists are people with thier own vices
Robert Young
1. He can never pull this stunt again or his brand is dead forever 2. The shredded painting is worth at least five times what she paid for it and a hundred years from now it will be worth $200 million minimum before adjusted for inflation.
She got the deal of a lifetime.
Parker Diaz
How does money laundering work? Serious
Isaac Gonzalez
Wtf are you retards on about? The moron asked who is the artist and what happened, this shit was in the news they can look it up themselves don’t post in threads you have no merit to post in just stick to what you know fucking retards
Alexander Morgan
expensive american made "heady" glass art is a booming money laundering endeavour. people that grow weed cant take their money to the bank my dude
Thomas Murphy
Because drugs/money laundering. Now ask why the shredded art is worth double that... Same answer.
I know what happened retard a literal who took a few hours to draw a pretty picture then sold it for over a million and then shreds it because POWERFUL STATEMENT OMG and retards lap it up. And here you are defending this moronic behavior.
Parker Carter
>making assumptions Im not defending shit you embossed carbuncle, I’m merely stating to get out of a thread that you had made seem you had no clue what was going on. It’s like walking to a party and talking to random people who are having their own conversations and telling them “DURR WHATS GOING ON GUIZEEE” kill yourself you literal fuckwit
Jacob Cook
She can probably resell it for a profit
Henry Jones
you take dirty money and funnel it through some other channel to make it appear to be legitimate cash.
This could be a real or fake business. Convenience stores, barbershops etc.
Art is popular because the value is "subjective" so you can easily transfer it between parties Al and Bob for a small value, and then Bob to Cate. Cate gives Bob a large amount of dirty money. Bob now has "clean" money.
Al, Bob, and Cate could all potentially be involved in the money laundering scheme. Some people speculate that the auction houses are involved in facilitating these transactions to an unscrupulous degree.
Julian Anderson
And the reason you can tell that it was more along the lines of just being a fucking douchebag shitty graffiti artist that wanted to make himself more known and not about the actual "art for art's sake" is that the "artist" didn't have the work of "art" self-immolate and destroy itself. It didn't even shred itself. Banksy is overrated, and only NPCs think what he does is actually art, because that's what the media and jews and the andy warhol faggot types tell him to think.
Angel Butler
>give man car full of cocaine worth 100k >throw a bunch of paint on a blank canvas or shit in a pickle jar >man who took cocaine from you buys the shit in a pickel jar for 100k
Correct me if I'm wrong.
Dylan Hill
In art basically it worms like this >be rich chinaman named Chen >Chen has millions of dollars in dirty money >Chen buys a bunch of art using that money >Chen gets it appraised, art appraisal is basically jerking off. Oh you bought this painting for $1 million, well it’s obviously worth at least $1 million. >Chen now takes painting to a dirty bank and uses the painting as collateral >bank gives him money for how much it’s “worth” I’m giving you the basic bitch version, there’s hundreds of ways to use art for money laundering
