Banksy work depicting MPs as chimpanzees sells for £9.9m

A Banksy artwork depicting the House of Commons as chimpanzees has been sold at auction in London for just under £9.9m.

The artwork entitled 'Devolved Parliament', which is four metres wide was painted by the anonymous Bristol artist in 2009, reports BBC.

It had a pre-auction estimate of £1.5m to £2m, but it sold for nearly five times its estimate at Sotheby's in London.

Banksy reacted on Instagram, saying it was a "record price for a Banksy painting" and "shame I didn't still own it".

Sotheby's tweeted the painting had sold "to applause at £9,879,500 - nine times its previous record - after a 13 minute bidding battle".

The auction house said: "Regardless of where you sit in the Brexit debate, there's no doubt that this work is more pertinent now than it has ever been."

Devolved Parliament is the artist's biggest known work on canvas.

It beat the previous auction record for a Banksy, thought to be the $1.8m (£1.4m) for Keep It Spotless, which sold at Sotheby's in New York in 2008.

Alex Branczik, from Sotheby's, said Banksy "confronted the burning issues of the day".

He said the artist "distils society's most complicated political situations into just one, deceptively simple image that is readily shareable in our social media age".

Banksy created Devolved Parliament for the takeover of Bristol Museum in 2009, which attracted more than 300,000 visitors and was said to be one of the most visited exhibitions in the world that year.

The painting's anonymous owner lent it to the museum earlier this year to mark both the exhibition's 10th anniversary and Britain's original planned exit from the EU on 29 March.

The auction took place a year after Banksy himself intervened in a Sotheby's auction, when his artwork Girl with Balloon self-destructed as the gavel came down to become the newly titled Love is in the Bin.