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Nirav Modi's assets to be auctioned at two upcoming sales

Jan 21, 2020 18:32 IST

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 will conduct the sales on behalf of the Enforcement Directorate. 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, estimated at ₹12-18 crores; an oil on canvas by M F Husain from his "Mahabharata" series, also estimated at ₹12-18 crores, a painting by V S Gaitonde estimated at ₹7-9 crores and one by Manjit Bawa, estimated at ₹3-5 crores. 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.

National