MF Husain’s Art, Hermès Bags: Nirav Modi’s Luxury Goods on Auction

Auction house Saffronart will auction assets belonging to fugitive diamond merchant, Nirav Modi, on 5 March. 

(Photo Courtesy: niravmodi.com)

Paintings by MF Husain, Amrita Sher-Gil and Raja Ravi Varma are among the artworks that the Enforcement Directorate (ED) is set to auction from fugitive businessman Nirav Modi’s seized valuables on Thursday, 5 March. The ‘live auction’ is being organised by Saffronart.

Apart from paintings, some of the other valuables that were featured in two other online auctions held recently, were luxury handbags, watches and cars. This comes just a year after the Income Tax Department raised Rs 54.84 crore by selling another batch of valuables that belonged to the absconding diamantaire.

According to Saffronart CEO and Co-Founder Dinesh Vazirani, “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, MF Husain and VS Gaitonde.”

Here’s a look at some of the works that are expected to bring in the big bucks.

MF Husain’s Battle of Ganga and Jamuna

M F Husain’s Battle of Ganga and Jamuna painting.(Photo Courtesy: Saffronart)

MF Hussain’s Battle of Ganga and Jamuna is an oil canvas from his Mahabharata series. The Mahabharata is a series of 27 works – and ‘Battle of Ganga and Jamuna’ was painted in 1972. In the painting, Husain depicts the act of separation between the two rivers, a theme that forms the crux of the epic saga.

This painting is estimated to fetch anywhere between Rs 12 crore and Rs 18 crore.

Amrita Sher-Gil’s Boys With Lemons

Amrita Sher-Gil’s ‘Boys With Lemons’ painting.(Photo Courtesy: Saffronart)

One of the pioneers of modern Indian art in the 20th century, Amrita Sher-Gil’s works were most the notable among India’s avant-garde movement.

Sher-Gil’s oil on canvas depicting two boys selling lemons is set to be auctioned for the first time ever. On their website, Saffronart has attributed the provenance of the painting to a direct acquisition from the artist’s family.

Boys with Lemons is estimated to bring in anywhere between Rs 12 crore and 18 crore.

Raja Ravi Varma’s Painting

Raja Ravi Varma’s painting.(Image Courtesy: Saffronart)

Another pioneer of modern Indian art (relatively speaking), Raja Ravi Verma’s paintings were realist in style, and inspired by scenes from Indian mythology and Indian classical music and dance.

The painting is estimated to bring in anywhere between Rs 2 crore and 3 crore. 

Manjit Bawa’s Painting

Manjit Bawa’s painting.(Photo Courtesy: Saffronart)

Inspired by Indian mythology, painter Manjit Bawa’s work that’s set to be auctioned is a depiction of Krishna leaning over a lion. The painting, which is dated 1992, is estimated to be worth anywhere between Rs 3 crore and Rs 5 crore.

VS Gaitonde’s Painting

VS Gaitonde’s painting.(Photo Courtesy: Saffronart)

This untitled abstract painting by Padma Shree VS Gaitonde was completed in 1972. It is estimated to bring in anywhere between Rs 7 crore and Rs 9 crore in the auction.

A total of 11 paintings will be auctioned on 5 March. Apart from them, some of the other valuables are:

Hermès Kelly and Birkin Handbags

Luxury bags seized from Nirav Modi being auctioned.(Photo Courtesy: Saffronart)

About 10 Hermès handbags and wallets are also set to come under the hammer in the Live Auction. Ranging across different styles, the items are expected to bring in Rs 2-6 lakh.

Luxury Wristwatches

Luxury wristwatches seized from Nirav Modi being auctioned.(Photo Courtesy: Saffronart)

Luxury wristwatches like a Jaeger Lecoultre ‘Reverso Gyrotourbillon 2’ Limited Edition and Gerrard Perregaux ‘Opera One’ are estimated to bring in Rs 55-70 lakh and Rs 3-5 lakh, respectively.