Two men charged with stealing Banksy artwork

Two men have been charged with stealing a work of art by street artist Banksy that was stolen during a raid on a London gallery.

The Metropolitan Police announced that Larry Fraser, 47, and James Love, 53, are suspected of stealing the artwork “Girl with Balloon” from the Grove Gallery.

The suspects appeared before Wimbledon Magistrates' Court and were remanded in custody pending their next hearing on October 9.

Surveillance camera footage shows a masked man smashing a glass door before running inside and taking the picture of a wall.

Police say they have recovered the work, valued at £270,000 (€319,000) in court documents, and nothing else was reported stolen.

The stolen work is one of several versions of the painting “Girl with Balloon,” which shows a child reaching for a red, heart-shaped balloon.

Originally stencilled on a wall in East London, the image was reproduced countless times and became one of Banksy's most famous images.

Another version partially self-destructed at a 2018 auction, believed to be due to a shredder hidden in the frame, shortly after it was purchased for £1.1 million (€1.3 million) at Sotheby's.

The self-shredded work, titled “Love is in the Bin,” was sold for £18.6 million (€22 million) in 2021.

The gallery's director, Lindor Mehmetaj, said he was “horrified and petrified” by the theft and grateful to have the painting back.

But he also said that the incident would have a positive impact on the value of the artwork.

“We had the artwork sealed by the Metropolitan Police. It was stolen. It is also a new story. And that usually increases the value of masterpieces,” he said.

Bansky, who has never confirmed his full identity, began his career spray painting buildings in Bristol and became one of the world's most famous artists.

His mischievous and often satirical images include two policemen kissing, armed riot police with yellow smiley faces, and a chimpanzee holding a sign that reads, “You can laugh, but one day I'll be in charge.”

His paintings and installations are sold at auctions for millions of dollars and have often been the target of thieves and vandals.