Rare painting by British street artist Banksy goes on auction in London

A rare painting by the elusive British street artist, Banksy, with a sharp environmental message is set to go under the hammer at Sotheby’s in London.

Crude Oil (Vettriano), a reworking of Scottish artist Jack Vettriano’s 1992 painting, The Singing Butler, is expected to fetch up to $6 million at the auction later this week.

Mackie Hayden-Cook, a specialist at Sotheby's, described the painting as a “masterpiece” from Banksy’s practice.

"It was first exhibited in the landmark exhibition, Crude Oils, in Notting Hill in 2005. And what we see here is typically Banksy,” she said.

“He's scalding the art world with dark humour and irony and speaking to prevalent issues such as globalisation and environmentalism which really resonates with the public consciousness."

The original painting shows an elegant couple in evening dress dancing on a beach as servants offer sheltering umbrellas.

Banksy added two men in hazmat suits stuffing a bird into an oil barrel as a sinking oil liner disappears into the distance.

“The couple, they continue dancing, possibly unaware of their surroundings, or perhaps deciding to turn away,” said Hayden-Cook.

Sotheby’s sold the original painting in 2004 and a year later, Banksy exhibited his remix at his exhibition in Westbourne Grove.

“This was at a time when Vettriano was popular, but his popularity rested on reproductions of his paintings."

The artwork comes from the collection of Mark Hoppus, a bassist with California skate-punk band Blink-182.  He said he was drawn to the subversion, humour, and intelligence of Banksy’s work.

Hoppus plans to use part of the proceeds to support emerging artists, while some will go to charities, including the California Fire Foundation and Children’s Hospital Los Angeles.

Works by Banksy, whose identity remains a mystery, have become highly sought after.

As the reinterpretation of Vettriano’s best-known work prepares to go on sale, a publicist for the Scottish artist announced his death.

The 73-year-old self-taught painter’s body was found at his apartment in the south of France on Saturday.

Local media are reporting there are no suspicious circumstances surrounding his death.