Jan. 14 (Bloomberg) -- A London wall adorned with a mural by graffiti artist Banksy today sold on EBay Inc's Web site for 208,100 pounds ($407,000).

The buyer will need to pay for the additional cost of removing the 15-foot-wide mural, which shows the figure of a traditional painter finishing the real artist's name.

``I advise you seek your own costing for this but shouldn't cost more than 5,000 pounds,'' said the seller on the Web site.

``I know this Banksy,'' said London specialist graffiti art dealer Mike Snelle, of Black Rat Press. He named the seller as Luti Fagbenle, who runs a post-production company in Portobello Road. ``The price is crazy. And it's going to be a nightmare to take off the wall. After this result a lot more people are going to be tempted to sell Banksy murals,'' said Snelle.

There were 69 bids for the mural, covered in a Perspex screen, on an external brick wall in Portobello Road.

Banksy, born in Bristol, England, in 1975, has attracted buyers from Damien Hirst to hedge funds as his paintings rise in value. In October 2007, a record 322,900 pounds was paid at Sotheby's, London, for ``The Rude Lord,'' an 18th-century portrait altered by Banksy to make the sitter show an extended finger. Banksy authorizes initial sales of his work through the Lazarides Gallery, his London-based primary dealer.

-- Editors: Mark Beech, Jeffrey Burke.

To contact the reporter on this story: Scott Reyburn in London at sreyburn@hotmail.com

Last Updated: January 14, 2008 14:46 EST