Melbourne City Council moves to protect graffiti artist Banksy's work

A piece of Melbourne street artwork by reclusive British artist Banksy has now gone under cover.

A clear perspex screen has been installed to protect the quirky piece of graffiti from being vandalised.

The 1m spray-stencil work of a figure in a duffle coat with a diver's helmet is on the back wall of the Nicholas Building at the entrance to Cocker Alley, off Flinders Lane. It was painted in 2003.

Despite its value, it is often hidden behind rubbish bins. Other Banksy works dotted around Melbourne's laneways have disappeared under layers of graffiti or through council clean-ups.

The city council's Street Art Assessment Panel designated the stencil as legal art.

The cover, paid for by the building's owners, cost a few hundred dollars. Some of Banksy's London graffiti art has sold for over $450,000.

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