The Banksy artwork that self-destructed moments after it was sold for £1m may now have doubled in value, according to an expert.

​Girl with Balloon was shredded by a mechanism hidden within its own frame in front of a stunned audience in London on Friday night, moments after the auction was won by an anonymous phone bidder at Sotheby’s auction house.

Joey Syer, co-founder of www.MyArtBroker.com, told The Evening Standard: "Today said that the shredded artwork could now have doubled in value. Girl with Balloon is one of the most iconic images of recent times. It’s seen some of the sharpest price increases over previous years with signed/unsigned prints and canvass showing an average of +20% yoy. Prices now are regularly exceeding £115,000 for signed authenticated prints."

"The auction result will only propel this further and given the media attention this stunt has received, the lucky buyer would see a great return on the £1.02m they paid last night, this is now part of Art History in its shredded state and we'd estimate Banksy has added at a minimum 50% to it's value, possibly as high as being worth £2m+."

Banksy, whose true identity remains unknown, celebrated the prank with a post on Instagram with the caption: “Going going gone”.

“It appears we just got Banksy-ed,” said Alex Branczik, Sotheby’s senior director and head of contemporary art. The 2006 artwork, which depicts a girl reaching out to a red heart-shaped balloon and is one of Banksy’s most iconic images, was valued at around £300,000 but eventually sold for £1,042,000.

Has Banksy's real identity been discovered at last? Show all 52 1 /52 Has Banksy's real identity been discovered at last? Has Banksy's real identity been discovered at last? 38279.bin A Banksy work portraying Glastonbury organiser Michael Eavis as this year's festival headliner Jay-Z YUI MOK/PA WIRE Has Banksy's real identity been discovered at last? 38353.bin Banksy's controversial creations in London and Bristol are now fetching hundreds of thousands of pounds, and there is also a thriving scene below him as collectors and speculators look for more unusual and dramatic pieces to snap up. But is it really a sound investment? Is there a place for expensive tongue-in-cheek pictures and satirical slogans during the dark days of the credit crunch? Has Banksy's real identity been discovered at last? 24122.bin Banksy's Clean Streets Maid made up of Smarties by food artist Prudence Emma Staite PA Has Banksy's real identity been discovered at last? 38305.bin In the style of Andy Warhol, this screenprint of Kate Moss as Marilyn Monroe by Banksy fetched £96,000 at auction in February Getty Has Banksy's real identity been discovered at last? 38308.bin A Palestinian police officer stands guard in front of a mural by Banksy in the West Bank Getty Has Banksy's real identity been discovered at last? 38307.bin A work of art believed to be by Banksy is pictured near Tottenham Court Road in Central London Getty Has Banksy's real identity been discovered at last? 38302.bin Banksy's Laugh Now was auctioned at Bonhams in January at the gallery's first auction devoted solely to urban art Getty Has Banksy's real identity been discovered at last? 38300.bin A sculpture by Banksy on display at the Gagosian Gallery in New York Getty Has Banksy's real identity been discovered at last? 38326.bin A spray painted depiction of a cash machine grabbing a child adorns a wall in Exmouth Market, London Getty Has Banksy's real identity been discovered at last? 38298.bin Palestinians pass a wall painting by Banksy in Bethlehem on Israel's West Bank separation barrier and Bethlehem walls Getty Has Banksy's real identity been discovered at last? 38329.bin A graffiti made by Banksy on Israel's West Bank barrier in Abu Dis Getty Has Banksy's real identity been discovered at last? 38310.bin One of Banksy's most recent pieces appeared at this year's Glastonbury, and featured a combination of festival organiser Michael Eavis and headlining artist Jay Z Getty Has Banksy's real identity been discovered at last? 38299.bin A Palestinian labourer works under a painting by Banksy on a building wall in Bethlehem Getty Has Banksy's real identity been discovered at last? 38311.bin A piece by Banksy in his hometown of Bristol Getty Has Banksy's real identity been discovered at last? 38312.bin In one of the artist's most audacious moves, Banksy doctored copies of socialite Paris Hilton's debut album 'Paris' in 2006 to include messages lampooning her showbiz lifestyle Getty Has Banksy's real identity been discovered at last? 38313.bin Another of Banksy's messages from Paris Hilton's album Getty Has Banksy's real identity been discovered at last? 38330.bin This 20-foot high, 3-tonne concrete and bronze sculpture was unveiled at Clerkenwell Green, London in August 2004. The piece was described by its creator as "a monument to liars, thieves and bullies" Getty Has Banksy's real identity been discovered at last? 38337.bin Another piece by Banksy on the West Bank, near the Kalandia checkpoint Reuters Has Banksy's real identity been discovered at last? 38332.bin Painted cows and vandalised images of Britain's former Prime Minister Winston Churchill were displayed in the Turf War exhibition by Banksy which opened in 2003 Reuters Has Banksy's real identity been discovered at last? 38333.bin A cow, painted with images of pop artist Andy Warhol, featured in 2003's Turf War exhibition Reuters Has Banksy's real identity been discovered at last? 38334.bin Classic oil paintings painted over by Banksy were also part of the Turf War exhibition Reuters Has Banksy's real identity been discovered at last? 38335.bin 'Tesco Soup (Green)' by Banksy, part of the exhibition Warhol vs Banksy exhibited at 'The Hospital', London, in 2007 Reuters Has Banksy's real identity been discovered at last? 38303.bin Pedestrians stop to photograph a Banksy work in London Getty Has Banksy's real identity been discovered at last? 38341.bin A wall in Portobello Road adorned with a Banksy sold for £208,100 in January Reuters Has Banksy's real identity been discovered at last? 186605.bin SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186602.bin A painting of an abandoned car in the countryside SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186600.bin Two women admire a Banksy statue Has Banksy's real identity been discovered at last? 186601.bin Sheila Stoddard, Curator of Fine Art, hangs a painting by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186590.bin A woman reads a story about Banksy while sat next to a Banksy mannequin SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186618.bin A piece by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186606.bin A piece by Damien Hirst graffitied by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186592.bin A statue of a woman holding a beer can and a cigarette SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186598.bin One of the new Banksy exhibits SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186593.bin A painter puts the finishing touches to a piece by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186595.bin A statue of a woman holding several shopping bags and a pair of designer sunglasses SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186604.bin Bristol City Museum where the biggest exhibition ever by the graffiti artist Banksy is being held SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186596.bin An exhibit by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186612.bin A piece by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186594.bin A woman looks at statue by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186603.bin A piece displayed at the exhibition SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186599.bin A man photographs an exhibit SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186597.bin A run-down ice cream van sculpture SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186610.bin A picture of Davina McCall graffitied by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186607.bin A view of the ice cream van sculpture SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186613.bin A rabbit beautifying itself in the mirror SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186608.bin Shelia Stoddard, curator of Fine Art, adjusts a painting by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186616.bin 'Exit through the gift shop' SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186609.bin Banksy's famous tag SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186614.bin An information poster about the exhibition by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186615.bin A piece by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186591.bin A woman looks at a montage of works by Banksy SOUTH WEST NEWS SERVICE Has Banksy's real identity been discovered at last? 186617.bin Two men graffiti a sleeping Thomas the Tank Engine SOUTH WEST NEWS SERVICE



As the gavel went down to signal the end of the auction at 9pm, an alarm went off and the canvas began sliding downwards through the frame. It emerged at the bottom sliced into ribbons, prompting officials to rush in to take the artwork from the wall in a doomed bid to save it.

Sotheby’s described the surprise as “instant art world folklore” and said it marked “the first time in auction history that a work of art automatically shredded itself after coming under the hammer.”