LONDON (AP) – A work by British street artist Banksy that sensationalally shredded itself just after being auctioned off three years ago fetched nearly $ 25.4 million on Thursday – a record for the artist and nearly 20 times its pre-shredded price.
“Love is in the Bin” was offered by Sotheby’s in London, with a presale estimate of $ 5.5 to $ 8.2 million.
After a 10-minute bidding war involving nine bidders in the auction room, online and over the phone, it sold three times the high estimate to an undisclosed buyer. The sale price of $ 25.4 million includes auction house fees known as the buyer’s premium.
The piece consists of a half-ragged canvas in an ornate frame bearing a spray-painted image of a girl catching a red heart-shaped balloon.
When it was last sold at Sotheby’s in October 2018, the piece was known as “Girl With Balloon”. Just as an anonymous European buyer made the winning bid – for $ 1.4 million – a hidden shredder integrated into the frame by Banksy came to life, leaving half of the canvas hanging from the frame in strips.
Sotheby’s received some criticism at the time for not spotting the hidden destroyer. But the 2018 buyer decided to proceed with the purchase, a decision that was confirmed on Thursday as the price of the artwork skyrocketed.
Cher sues Sonny Bono heirs for song, record earnings
LOS ANGELES (AP) – Cher has sued the widow of her former musical partner and ex-husband Sonny Bono for royalties on Sonny and Cher songs including “I Got You Babe” and “The Beat Goes On”.
In a federal lawsuit filed in Los Angeles on Wednesday, Cher alleges that former Rep. Mary Bono and other defendants attempted to rescind terms of the trade deals entered into by Cher and Sonny Bono during their 1975 divorce, which each gave entitlement at 50% of composition and recording. royalty fee.
The lawsuit says Sonny Bono’s heirs filed a notice in 2016 saying they were terminating some of his song licensing agreements, but they “did not and could not have terminated” his agreements with Dear.
The breach of contract lawsuit alleges damage to Cher totaled at least $ 1 million.
Mary Bono’s lawyer said family moves were within their rights and within the law.
“Copyright law allows Sonny’s widow and children to reclaim Sonny’s copyright from the publishers, which they have done,” attorney Daniel Schacht said in a statement.
They married from 1969 to 1975.
Sonny Bono died in a skiing accident in Lake Tahoe in 1998, and Mary Bono, his fourth wife, won her seat.