A model spray painted by the anonymous artist Banksy has sold for more than £1m in Newcastle.
The mini thatched stable, which features a rodent and the words ‘Go Big Or Go Home” scrawled on the side, fetched seven figures at Anderson and Garland auction house in Westerhope on Thursday.
The work, which first appeared at a model village in Norfolk during summer, formed part of the artist's 2021 series called the 'Great British Spraycation'.
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The hammer price for the artwork was £800,000 but with the addition of commission and artist's fee, the price was pushed over the £1m mark.
It was sold to a private UK collector, who made their bid via telephone.
Iain Byatt-Smith, an auctioneer and valuer at Anderson and Garland, said: "There was international interest for the work and when it came to the auction, there was an electric feeling in the room.
"We started at £600k and got up £800k quite quickly.
"There was a bit of exciting back and forth, with three telephone bidders fighting it out."
Iain continued: "It was a wonderful opportunity for us to have such prolific artwork on display, but also for the North East in general.
"I expect the buyer will collect it as quickly as possible. If I were them, I'd want this wonderful piece on display as soon as I could."
Frank and Frances Newsome, the owners of the Merrivale Model Village in Great Yarmouth where the piece was found in August, decided to auction the artwork over fears it could be stolen.
They hope this sale will secure the future of the tourist attraction, and a replica will replace the original in the model village.
Frank said: "My family and I are absolutely delighted with the result achieved today. It’s a fantastic result for the park. We were delighted to be able to sell the model in the North East.
"We’ve enjoyed the whole auction experience and Anderson and Garland have been a pleasure to work with."
Banksy was seen working on eight pieces across Suffolk and Norfolk during the summertime in a video entitled 'A Great British Spraycation' which was uploaded to his Instagram account.
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