Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Seized Assets of Nirav Modi to be Auctioned at Saffronart's Two Upcoming Sales

Besides Modi's assets, the auction will also witness watches like Jaeger Lecoultre Men's 'Reverso Gyrotourbillon 2' and more than 80 branded bags go up for bids.

PTI

Updated:January 21, 2020, 4:55 PM IST
facebookTwitter Pocket whatsapp
Seized Assets of Nirav Modi to be Auctioned at Saffronart's Two Upcoming Sales
File photo of Nirav Modi.

New Delhi: Fugitive businessman Nirav Modi's seized assets including artworks, luxury watches, handbags and cars will go under the hammer at Saffronart's two upcoming auctions.

The Mumbai-based auction house has been selected to host the sales on behalf of the Enforcement Directorate, Government of India. While the first sale, a live auction, will be held on February 27 in Mumbai, the second will be an online sale on March 3-4.

Highlights of the auction include 15 artworks by significant modern and contemporary Indian artists like a 1935 masterpiece by Amrita Sher-Gil which has never previously been auctioned and is estimated at Rs 12-18 crore, a significant oil on canvas by M F Husain from his "Mahabharata" series, also estimated at Rs 12-18 crore, a 1972 serene blue painting by V S Gaitonde estimated at Rs 7-9 crore, and a vivid red depiction of Krishna by Manjit Bawa, estimated at Rs 3-5 crores, among others.

Important watches going on sale include a Jaeger Lecoultre Men's "Reverso Gyrotourbillon 2" Limited Edition wristwatch, and a Gerrard Perregaux Men's "Opera One" wristwatch.

Of more than 80 branded handbags included in the auction, several are from the Birkin and Kelly lines by luxury retailer Herms.

"Saffronart is extremely honoured to inaugurate its 20th year by lending our services and expertise to the Enforcement Directorate, Government of India. We are diligently working with the ED to assess and evaluate each item and put together the catalogue for both the sales, which includes a distinguished line-up of artworks by the likes of Amrita Sher-Gil, M F Husain and V S Gaitonde.

"The auctions also feature luxury collectibles - such as watches by Jaeger Lecoultre, and Birkin and Kelly handbags from Herms - which are among the most popular luxury items internationally and witness great demand from celebrities and collectors," said Dinesh Vazirani, Saffronart CEO and Co-Founder.

Select lots from the upcoming auctions will be exhibited at the Saffronart gallery in The Oberoi, New Delhi during the India Art Fair later this month.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results