LONDON — Sotheby's says the winning bidder for a Banksy painting that self-destructed during an auction last week has decided to go through with the purchase.
The auction house says a female European collector was the successful bidder who offered 1.04 million pounds for "Girl With Balloon." Just after the hammer came down, and to the shock of those in the saleroom, the bottom half of the work passed through a shredder concealed in the frame.
Sotheby's said Thursday the painting has been retitled "Love is in the Bin" and authenticated by Banksy's Pest Control agency.
Alex Branczik, head of contemporary art for Europe at Sotheby's, says it is "the first artwork in history to have been created live during an auction."
The buyer's identity was not revealed.
This story has been updated to correct the title of Sotheby's Branczik to head of contemporary art for Europe.