Banksy: Band who swapped their name for artwork make millions

The artwork, called 'Brace Yourself' was exchanged with a band so Banksy could use their name 'Exit Through The Gift Shop'

A band who gave their name to artist Banksy in exchange for his art have sold it for three times more than expected.

The band known as Brace Yourself! used to be called 'Exit Through The Gift Shop' before Banksy offered them a painting so he could use the name for a film he was making.

Art experts thought the painting of a grim reaper riding in a bumper car would sell for around $600,000 (£485,472) but it sold for over three times that amount, making just over $2m (£1.64m).

This piece of a girl letting go of a heart-shaped balloon is one of Banksy's most famous artworks

In 2010 Banksy made a documentary called Exit Through Giftshop, and asked the British band to give up their name to avoid copyright issues.

Copyright is the ownership of rights to things such as music, names and pictures. Once someone owns it, only they can create, sell and share things using it.

The band's singer said they were selling the artwork to preserve history.

A portion of proceeds from the sale will go to music charity MusiCares, which provides helps to people in the music industry.

Who is Banksy?

No one knows who Banksy is but he likes to surprise people - picture appeared on the side of a classroom at a primary school in 2016

Banksy is a famous - but anonymous - British graffiti artist. He keeps his identity a secret.

He produces pieces of work which pop up in public places, such as on the walls of buildings.

A lot of his art is done in a particular style which people can easily recognise.

He began spray-painting trains and walls in his home city of Bristol in the early 1990s. Bristol is well known for its colourful street art and graffiti.

But in the 2000s, he expanded his work beyond Bristol and was soon leaving his artistic mark all over the world.

He quickly became well known as an artist who would poke fun at big companies and send political messages through his work.

Why do some people not like him?

Banksy often has political messages in his art, such as this piece from 2017 believed to be painted by him at a ferry port in Dover

His artwork can be rebellious and is known for delivering political messages.

There are lots of people who love what he does, paying many thousands of pounds for it and considering it to be incredible art.

But there are others who don't support what he does and consider it to be vandalism.

Some of his graffiti has been painted over soon after it appears.

There is a debate about why Banksy's work can be protected as 'art' when other graffiti artists are prosecuted and sometimes even put in prison for doing the same thing.

Some of his work is also controversial because of what he does with it.

At an exhibition of his work in London in 2005, he released 200 live rats in the gallery. Rats are a common theme in his work.

Does Banksy sell his art?

Banksy secret;y installed a shredder "just in case" it was sold

Banksy doesn't usually like to see his art sold when it is not on his terms but people still like to buy them for large sums of money.

In 2008, a piece of work called 'Keep It Spotless' was sold for just over £1 million.

In the same year, a mobile home that had a piece of Banksy artwork on it was given a £500,000 price tag. This was all because of the artwork that it had on the side.

However in 2018, a painting of his called The Framed Girl With Balloon, one of his best known works, was shredded just after it sold for £1.042m.

Banksy later revealed he has secretly installed a shredder in the frame "in case it was ever put up for auction".

An auction is where people compete to buy something by offering more money.