Home Business ₹2.71 crore raised from auction held on behalf of ED offering luxury...

₹2.71 crore raised from auction held on behalf of ED offering luxury items seized from Nirav Modi

177
0
SHARE

(G.N.S) dt. 3


Mumbai


A total of ₹2.71 crore, raised from two-day auction held on behalf of the Directorate of Enforcement, Mumbai, two-day auction held on behalf of the Directorate of Enforcement.


“We are thrilled to see our auction achieve a ‘white glove’ sale with 100% of the lots being sold,” said Dinesh Vazirani, chief executive officer and co-founder of Saffronart. The auction was held on June 1 and 2 and consisted of 27 lots.
“There was intensely competitive bidding across categories and from around the world, with most lots selling in multiples of their pre-auction estimates,” he added.


“Over time, and particularly in the last two years, there’s a growing scarcity of these fine, handcrafted items, thereby increasing their value tremendously. The cost of a classic Chanel flap bag has risen by 60% since 2019. This, coupled with the brand limiting buyers from multiple purchases per year, makes this piece a great investment,” said Vazirani.

Print Friendly, PDF & Email

LEAVE A REPLY

Please enter your comment!
Please enter your name here