A Banksy mural, that disappeared from a wall in north London and reappeared at an auction house in the U.S. has been withdrawn from sale at the eleventh hour.

(SOUNDBITE) (English) MAN OFF CAMERA, SAYING:

"Can you tell me why the Banksy was removed?"

(SOUNDBITE) (English) AUCTIONEER PETER THUT, FINE ART AUCTION MIAMI, SAYING:

"We will send you a statement about that, OK?"

The work -- thought to be a commentary on sweat shop labour -- was expected to fetch up to 700,000 US dollars at auction.

"Slave Labour", appeared on this wall in Wood Green shortly before Britain's diamond jubilee celebrations.

In most cases, people would be glad to see street graffiti removed.

But very few have been done by iconic spraypaint artist Banksy and residents campaigned to have it returned.

(SOUNDBITE) (English) ALAN STRICKLAND, HARINGEY COUNCILLOR, SAYING:

"When this piece of street art appeared last May so many people were coming to see it from across London that the local Tube staff had to put a special sign to direct Banksy tourists. So, not only has this been a piece that's been really valued by the community, it's made us excited to have it here, really proud to have a Banksy. You know it was a real visitor attraction as well. So it's been brilliant to have it here and people are really angry that it's gone."

As for the bare wall, a new mural has sprung up in the exact spot where the Banksy used to be.

And some speculate it's another work by the famous graffiti artist.