Nirav Modi's Art Collection, Luxury Watches To Be Auctioned Next Week
Last month, Saffronart became the first professional auction house to be appointed by the Enforcement Directorate in Mumbai to auction seized assets. Two sales - 'Spring Live Auction' in Mumbai on February 27 and 'Spring Online Auction' on March 3 and 4 will feature a total of 112 lots seized from fugitive businessman Nirav Modi, including significant artworks by leading modern and contemporary Indian artists, and a selection of luxury watches, handbags and cars.
The Spring Live Auction will feature 40 lots, of which 15 are artworks. Leading the sale is a 1935 masterpiece by one of the most important Indian artists of the 20th century, Amrita Sher-Gil, titled Boys with Lemons, estimated at Rs 12-18 crore.
The painting, which will appear on the auction market for the first time, was probably painted while Sher-Gil was back at her family home in Simla and represents a time when she was trying to carve out her own identity by exploring subjects deeply rooted in the Indian sentiment.