Love is in the Bin was offered by Sotheby’s in London, with a pre-sale estimate of 4-6 million pounds ($A7.4-11.0 million).
It consists of a half-shredded canvas in an ornate frame bearing a spray-painted image of a girl reaching for a heart-shaped red balloon.
When it 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, a hidden shredder embedded in the frame by Banksy whirred to life, leaving half the canvas hanging from the frame in strips.
Sotheby’s says the work created in the stunt is “the ultimate Banksy artwork”.
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