Art buyer cuts losses
THE anonymous buyer of a Banksy painting that was partially shredded at an auction has agreed to proceed with her payment of £1.04 million ($A1.9 million) despite the damage, auctioneers say.
The auction house quoted the bidder as saying that after the initial shock she gradually realised that she would end up with her own piece of art history.
Sotheby’s identified the buyer of the 2006 work Balloon Girl only as “a female European collector”.
Banksy said he had built a shredder into the gilt frame of the picture, activating it as the auction closed on October 5.
The artwork has been renamed Love is in the Bin.