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It looks like another Banksy piece from his days in L.A. for the Academy Awards has bitten the dust. But at least this one might ultimately be saved:

The U.K.'s Independent newspaper reports (via LA Observed) that the white tank in a Malibu field stenciled by Banksy with the words “This looks a bit like an elephant” was towed away by the owner, who intended to sell it to the highest bidder.

Correspondent Guy Adams writes:

When I stopped to ask what was going on, one told me that the owner of the land, a gentleman too miserly to have removed the oil tank when it represented a piece of derelict trash, now intended to flog it, to the highest bidder.

Profit taking with public art?

A hole where 'Caution' once stood.; Credit: Ted Soqui

A hole where 'Caution' once stood.; Credit: Ted Soqui

Wouldn't be the first time. A Banksy piece in Boyle Heights called “Caution” was literally sawed out of a wall.

Better than taking down a six-figure Banksy piece, as happened on Sunset Boulevard, and crumpling it up into a ball.

Or simply removing a Banksy piece for good.

LA Weekly