The half-shredded artwork Love is in the Bin (2018) by anonymous British street artist Banksy realized £18,582,000 ($25,327,400) – including buyer’s premium – when sold at Sotheby’s in London, UK, on 14 October 2021. Without auction fees, the piece cost £16 m ($21.8 m).
This infamous artwork started life as Girl with Balloon, where it achieved a then-artist record sale price of £1.042 m ($1.353 m) in 2018, however after the hammer fell at that auction, it proceeded to self-destruct via a shredder built into its frame. At that point, it became known as Love is in the Bin.
The final hammer price for Love is in the Bin far exceeded the guide price of £4–6 m ($5.5–8.2 m).
This beats a previous sale record for this artist of £16,758,000 ($23,211,600) – including buyer’s premium – for the artwork Game Changer sold on 23 March 2021 at Christie’s in London, UK, most of which went to an NHS charity to support hospitals and medical workers during the COVID-19 pandemic. Prior to that, Banksy’s most expensive artwork was Devolved Parliament, which achieved £9,879,500 ($12,136,600) on 3 October 2019.
Although now world-famous for his distinctive stencilled graffiti, as well as making political statements through his art, Banksy’s true identity remains a secret, despite having emerged on the graffiti scene (originally around Bristol) in the early 1990s.
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History of Auctioneering
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Damien Hirst (UK) made $200.8 million (£111 million) during a two-day auction on 15 and 16 September 2008. 167 of his works went on sale at Sotheby’s in London. Only three of the 167 items available failed to find buyers.
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eBay was founded as AuctionWeb in California on September 3, 1995 by Pierre Omidyar in September 1995. It has 132 million yearly active buyers worldwide and handled $73 billion in transactions in 2023, 48% of which was in the United States. In 2023, the company had a take rate (revenue as a percentage of volume) of 13.81%.
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In June 2000, eBay acquired Half.com for $312 million in stock.
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Pursuant to 24 Del. C. § 2901, “the practice of providing real estate services” is reserved for those “duly licensed under this chapter.” Section 2901 enumerates several exceptions to the licensing requirement for providing “real estate services,” including one for “auctioneers.” In its Complaint, Plaintiff Delaware Auctioneers Association challenges regulations promulgated by Defendant Delaware Real Estate Commission concerning the 24 Del. C. § 2901(e)(4) exception for “auctioneers.”3 Specifically, Plaintiff asserts that § 2901(e)(4) is a blanket exemption for “auctioneers,”4 and, therefore, Defendant does not have the authority to implement regulations which purport to clarify “the complete, clear unambiguous and blanket exemption provided to ‘auctioneers.’”
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The Idaho Association of Professional Auctioneers (IAPA) was organized in 1981 to promote professionalism and the auction method of marketing. All members are in good standing and subscribe to the code of ethics set forth by the IAPA. The Association offers leadership, support, information and assistance to its members through its various committees and services, and lobbies to protect and enhance auction interests in the State. Members in good standing in the Idaho Association of Professional Auctioneers abide by Idaho Auction Law, IAPA By-Laws and a strict Code of Ethics.
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Based on users, the largest auction website is eBay (USA), with an estimated 157 million active buyers worldwide as of 9 October 2015, according to Forbes.
eBay was launched on 4 September 1995 by Pierre Omidyar (France) and has its headquarters in San Jose, California, USA.
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“Jimson Weed: White Flower No. 1” by American Modernist Georgia O’Keeffe (1887–1986) became the most expensive painting by a female artist sold at auction, when it made $44.4 million (£28 million) at Sotheby’s in New York, USA, on 20 November 2014.
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The most expensive bottle of wine sold at auction is £192,000 ($304,375), which was paid for a bottle of 1947 French Cheval-Blanc, and sold at Christie’s, Geneva, Switzerland on 16 November 2010. The bottle was sold to a private collector smashing the previous estimates. The wine is of Bordeaux variety.
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The most expensive piece of wireless related equipment is a German Enigma coding (ciphering/enciphering) machine sold for £24,172.50 ($38,047.50) when it came to auction at Phillips Bond Street, London, UK, in April 1993. The above amounts are equivalent to £29,385.80; $45,355.26 in the year 2000.
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