A shredded canvas by British artist Banksy's is expected to sell for millions when it goes under the hammer later today (October 14).

"Love is in the Bin" will be offered by Sotheby's in London at its contemporary arts sale.

The work, formerly known as "Girl With Balloon", has an estimated selling price of 4-6 million GBP.

The original canvas sold for nearly £1.1 million in October 2018 when, as seen in this footage, it dramatically passed through a shredder hidden in the frame seconds after the hammer came down.

Artist Banksy pulled off a brilliant stunt at Sotheby's auction house in London on Friday night when one of his artworks self-destructed moments after selling for just shy of 1 million pounds.

Girl with a Balloon (2006) was the final lot of the night and went for £953,829 - exactly the same figure as the artist’s previous auction record.

However, as soon as the piece was sold, an alarm was triggered inside the work of art and the audience watched in horror as the canvas slipped through the faux-gilt frame and was shredded to pieces.

This video shows the stunned reactions of Sotheby's staff, art buyers and other members of the audience.

The auction house later said they were in discussions with the buyer about what the next steps would be.

At least one art expert has suggested the stunt may have instantly doubled the value of the work.