Seized assets of Nirav Modi to be auctioned at Saffronart's two upcoming sales - News Summed Up

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


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. 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 Hermès. "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.


Source: Economic Times January 21, 2020 10:41 UTC



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