Banksy 'Girl and Balloon' canvas smashes auction estimate

A limited edition canvas of Banksy's iconic 'Girl and Balloon' has smashed its auction estimate by selling for a record-breaking £345,000.

The 2003 piece is based on the artist's work which appeared on a wall one year earlier in London.

It features a girl letting go of a red, heart-shaped balloon and last year it was named Britain's favourite artwork.

And while prints can be picked up for a few pounds, an authentic Banksy canvas of the piece is seriously sought after among collectors.

Bonhams auctioned number 17 of 25 at its Post-War and Contemporary Art sale in London on Wednesday - giving it a guide price of around £200,000.

But there was a bidding war and the winning buyer ended up forking out £344,750 for the 15-year-old piece.

This is a record for any images of Girl and Balloon, smashing the previous best of £169,250.