A Kent town is still reeling from the news it has its very own Banksy, as scores of fans flock to catch a glimpse of the artwork.

The world famous street artist revealed yesterday afternoon that the appearance of a piece behind the new Payers Park in Folkestone was his handiwork.

The spray-painted image - depicting a woman peering over a plinth - was discovered on Sunday evening, sparking a flurry of speculation.

The buzz went into overdrive when the anonymous artist took to his website yesterday to confirm the image on the wall of the Palace Amusements arcade is genuine.

Visitors to homepage of www.banksy.co.uk are greeted with a close up of the work called Art Buff, with the signature, "Part of the Folkestone Triennial. Kind of."

Since then, art-lovers have descended on the seaside town to admire the art, thought to be worth £300,000.

Officers from Shepway District Council moved quickly to install a protective perspex sheet, which was sealed around the edges.

The council says it is continuing to work with the owners of the arcade building, Dreamland Amusements, to keep the piece protected.

On Monday evening, bouncers - believed to be employed by Dreamland - were even spotted guarding the artwork to prevent graffiti after they had been employed by the building’s owners.

Earlier today, a woman bearing a striking resemblance to the figure in the painting was snapped admiring it, which created a surreal mirror image.

It is not thought to be the first time Banksy has been to Shepway. A piece which appeared in 2010 in Dungeness, said to be by the artist, was removed.

Another rumoured Banksy work, also in Dungeness, was defaced just last month.

Shepway District Council says it hopes visitors will continue to enjoy the new artwork.

Cabinet member for communities, Cllr Jenny Hollingsbee, said: "This is a tremendous opportunity for the people of Folkestone to see a Banksy original. It is another reason to be proud of Folkestone."

Dreamland Amusements is yet to comment on the piece, and its future remains a mystery.

What is known is that ownership of Banksy artworks often proves controversial.

The enigmatic artist is renowned for his works on public areas, and legal wrangles over who has the right to either keep it or sell it on are not uncommon.

So what happens to a Banksy when it is confirmed to be genuine?

Just last month, a youth group in Bristol was given the boost it needed to stay open when the artist wrote to the owner saying it could keep a piece called Mobile Lovers painted onto a piece of wood and screwed to the wall of the club.

The owners were allowed to sell the piece and keep the proceeds following its sale at auction.

"This is a tremendous opportunity for the people of Folkestone to see a Banksy original. It is another reason to be proud of Folkestone..." - Cllr Jenny Hollingsbee

It followed a disagreement between the city council and the club after the police seized the piece - which had been on display inside the youth club.

It was moved to the Bristol Museum and Art Gallery where donations also helped save the youth club.

Earlier this year, another work daubed on a Brighton pub hit the headlines after fetching £345,000 at auction in Miami.

The Kissing Coppers, which shows two policemen sharing a passionate moment, was splashed onto the Prince Albert pub in the city.

Following vandalism in 2006 when black paint was smeared over the original the landlord of the pub cleaned up the offending paint and gave the Banksy a restoration, before having it removed by specialist workers.

Two people pleaded guilty to causing criminal damage and the piece was sold controversially as an original Banksy in February.

Ioannis Ioannou from the Creative Foundation, which runs the Triennial event, said: "We're really flattered that not only he visited but created a living highlight to the town.

"His contribution adds to the idea of public art in the town and it becomes more and more unique and that’s the icing on the cake. We don’t own the building of course but we hope it stays here."