I-T hammer rakes in Rs 59 cr from Nirav Modi art

Rare oil paintings which once belonged to fugitive celebrity jeweller Nirav Modi, were part of Tuesday's auction by the Income Tax Department that saw 68 works of art go under the hammer for Rs 59.37 crore.

The highlight of the evening was an untitled Gaitonde that sold for Rs 22 crore, the highest bid at the auction.

Besides Gaitonde, those of Raja Ravi Varma, FN Souza and Akbar Padamsee were also auctioned off.

While 'The Maharaja of Travancore...', a 1881 painting by Varma claimed the second slot at Rs 14 crore, the third lot, which fetched Rs 1.5 crore, was a classic oil canvas, 'Grey Nude', painted in 1960 by Akbar Padamsee.

Bidders from art hubs across the world participated in the auction virtually. Many online bidders from New Delhi also managed to purchase some of the artwork.

The works also included Chinese artists. Five works — one each by by Wu Yi, Ge Guanzhong, Xu Lei, Miao Xiaochun and Chen Ke — ranging from stunning detailed contemporary ink work to sculptural digital art also
featured in the sale.