Banksy art sells for $1.4 million then self-destructs
Banksy original shreds seconds after being sold
Police in London have arrested and charged two men with burglary after the well-known Banksy artwork "Girl with Balloon" was swiped during a smash-and-grab raid at a gallery.
Larry Fraser, 47, and James Love, 53, remain in police custody Friday following the incident at the Grove Gallery that unfolded around 11 p.m. Sunday night, according to the Metropolitan Police.
"A Banksy painting entitled 'Girl with Balloon' was the only item stolen. This has now been recovered and will be returned to the gallery," police said in a statement.
Surveillance camera footage showed a masked man smashing a glass door before dashing in and taking the picture from a wall. The artwork -- which is one of several versions of a stenciled image of a child reaching for a heart-shaped red balloon – is valued in court documents at $355,000, The Associated Press reports.
WHO IS BANKSY? THE ENGLAND-BASED STREET ARTIST’S WORK IS WELL-KNOWN, BUT HIS IDENTITY IS A MYSTERY
A staff member poses for photographs with a print of "Girl with Balloon, 2004" by British street artist Banksy, at Bonhams auction house in London, Monday, Nov. 8, 2021. (James Manning/PA via AP)
Originally stenciled on a wall in East London, the picture has been endlessly reproduced, becoming one of Banksy’s best-known images.
Another version partially self-destructed during a 2018 auction, passing through a shredder hidden in its frame just after it was purchased for $1.4 million at Sotheby’s. The self-shredded work, retitled "Love is in the Bin," sold for what was $25.4 million in 2021, according to the AP.
A Banksy painting, Girl With Balloon, on display at the Grove Gallery in London after it was stolen on Sunday, then recovered and returned to the gallery. (James Manning/PA via AP)
Bansky, who has never confirmed his full identity, began his career spray-painting buildings in Bristol, England, and has become one of the world’s best-known artists.
People look at a new Banksy painting on a wall in London in March 2024. (AP/Alastair Grant)
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Metropolitan Police say both suspects appeared in court on Thursday and will make another appearance on Oct. 9.
The Associated Press contributed to this report.
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