But the anonymous artist has now suggested that things were not quite well planned.
The mobile phone images of the sale in London show the work of art that slides in a shredder hidden inside its frame, before stopping abruptly in half and being carried by auction officials.
However, a new video, published on Wednesday on Banksy's website, implies that the painting "Girl with Balloon" of 2006 was supposed to be totally destroyed. It shows images of a work of identical appearance that is being crushed from top to bottom, with strips of canvas that fall from the frame.
The clip is accompanied by the message "In the trials it worked every time …"
The work of art is partially destroyed before it stops abruptly. Credit: Banksy
Described as a "director's cut", the three-minute video offers more evidence of how the anonymous artist installed the shredding device. The images imply that the trick was initiated through a handheld device, although it is unclear whether the close-up shot of a button that was pressed was captured in the sale.
The video also seems to make fun of the art industry. The scenes apparently recorded in a pre-sale event have been edited to include snippets of conversations like "Oh, thanks!" and "more champagne?"
At one point, a man, who appears to be an employee of an auction house, is filmed standing next to the painting commenting on his now notorious frame.
"The artist also put the frame," he is heard to say. "You understand him very often with Banksy, he really likes the romanticism of having a very ornate frame, like the one in the National Gallery."
It is not clear how, or by whom, the images were obtained, and it seems that some sections were searched secretly. The scenes from inside the auction room have been filmed from several different angles, fueling speculation about whether Banksy or his associates were present at the sale.
Banksy protested the imprisonment of Zehra Dogan, a Turkish artist who was imprisoned last year for a painting. Scroll to see more of the artist's work. Credit: JASON SZENES / EPA-EFE
Sotheby's has previously denied his involvement in the trick, or even his knowledge.