Banksy's chimp-depicting 'Devolved Parliament' fetches over $12 million at Sotheby’s

A large Banksy painting depicting primates sitting in Britain’s parliament sold for more than $12 million on Thursday, a record price at auction for a work by the secretive British street artist, Reuters reports, citing Sotheby’s.

“Devolved Parliament”, in which chimpanzees replace politicians in the House of Commons, more than comfortably surpassed its estimated price tag of 1.5 million to 2 million pounds, with the auctioneer declaring “history being made” at one point during the sale which was streamed live.

After bidding that lasted some 13 minutes, the 2009 artwork from a private collection sold to loud applause for a hammer price of 8.5 million pounds, to which fees are added giving a final price of 9,879,500 pounds ($12.2 million).

“Record price for a Banksy painting set at auction tonight. Shame I didn’t still own it,” Banksy wrote on his Instagram feed beside a post quoting art critic Robert Hughes about the value of artworks.