The work in Oulton Broad, near Lowestoft, Suffolk, showed three children standing in the 'Boat'.

The corrugated iron boat part of the artwork was removed by Council over flooding fears but as Suffolk Live reported, plans are afoot to put it in a museum.

People flocked to see Banksy's work, and it is hoped the corrugated iron sheet will boost museum visitors.

Banksy's boat was placed beneath his picture of the children in Nicholas Everitt Park, with a caption reading "We're all in the same boat".

It was removed because it was blocking a drain, and the artwork has since been covered with a screen to protect it from vandals and the elements.

Banksy's boat is now in a secure location, but the Oulton Broad Parish Council charitable trust that runs the park has to decide what to do with it.

"It can't go back because it's too big, and we can't cut it down because of what it is," council chair Sandra Keller told the BBC.

"Obviously the metal sheet's got a hand painted on it, so it's still a Banksy and it's a godsend for the area," she said.

It is one of 10 verified works that sprang up along the east coast as part of Banksy's so-called "Great British Spraycation".

More visitors were coming to the park since news broke about the verified Banksy, and if the boat could be housed in Lowestoft Museum, "It will take more people there, as well," Mrs Keller said.

Discussions about what to do with the rusty metal sheet are in the early stages, but she also hopes a viewing platform might be built in the park to enable sightseers to safely photograph the remaining work.

Would the trust consider selling the elusive street artist's boat?

Banksy expert Prof Paul Gough, principal and vice chancellor of Arts University Bournemouth said "some pieces hit astronomical prices".

Mrs Keller said: "It's valuable to us, as a trust. Someone would like to take it, yes, but we're not having any of that."