Banksy's SWAT van sells for £218,000 at auction

One of Banksy's most iconic works has been sold in London for a staggering price.

The unique piece of art, which hasn't been seen by the public since 2006, was auctioned off on Wednesday for £218,000 at Bonhams.

One side of the van shows a young boy standing behind a troup of armed police officers while the other side shows Dorothy, from The Wizard of Oz, against a background of classic graffiti artist tags.

The Bonham's listing states: "The van has remained shrouded in mystery since September 2006, and has since been verified by the Pest Control Office, Banksy's authorisation service."

"It was shown for the first - and only time - in an industrial warehouse in downtown Los Angeles, when the anonymous figure from Bristol, England, made his American debut with a solo exhibition."

The illusive Banksy is known for his use of stencilling technique in his art. Bonhams explained how this came about: "While the artist was hiding from the police under a rubbish lorry, he noticed the stenciled serial number."

"Stenciling has since allowed him to carry out complicated graffiti pieces extremely quickly, before he melts away into the night."

The Banksy work was auctioned as part of Bonham's 'Post War and Contemporary' art sale in London on Wednesday. Another pricey piece of art to be sold in the auction was Raymond Hains' 'Venezia 1966-67' which sold for £134,500.