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.
