But it seems slipping by such tight security might be easier than one might have imagined if one is willing to pay a sufficient seller's fee and knows just the right people, at least according to London-based art-world insider and frequent Artnet contributor Kenny Schrachter, whose source, "Deep Pockets", was able to shed some light on the deal.
But interestingly, the video states that it was actually meant to be fully shredded, showing rehearsals in which the full painting was shredded every time.
At the auction it only went halfway. Despite claims to the contrary, however, the work actually fell short of Banksy's artist record at auction-set with the sale of Keep it Spotless (2007) for $1,870,000 at Sotheby's NY in February 2008.
It shows the secretive artist installing a shredder in the ornate frame before it was put up for auction. It revealed that a remote-control button was pressed by someone inside the venue to activate the cutting mechanism.
The artwork is seen being partially shredded before coming to an abrupt halt. After all, how could such an embedded device have eluded conservators and auction house specialists?
"The artist put the frame on as well", he is heard saying. "He quite likes the romanticism of having a very ornate, National Gallery-esque frame". Scenes from inside the auction room have been shot from a number of different angles, fueling speculation about whether Banksy or his associates were present at the sale.
Love is in the Bin self-shredded in its frame immediately after selling for £860,000 at Sotheby's last week.
Scroll through to see more of the artist's work.
But the stunt may have caused the work's value to skyrocket - leading many cynics to believe the anti-establishment artist was in cahoots with the auction house.
Sotheby's has previously denied involvement in - or even knowledge of - the stunt.