New Delhi, Feb 28 : A 1933 Rolls-Royce was the top seller fetching a price of Rs 1.92 crore at the Osian's Connoisseurs of Art's first live Vintage and Classic Automobile Auction.
"India's first live automobile auction here on Wednesday turned out to be as exciting as what industry experts had been predicting, with enthusiasts and several first time buyers of historic vehicles warming up to idea of openly buying and selling automobiles to improve or start a collection, though final sales were slightly below expectations," a statement said.
The cars were consigned from across the country, with collectors from Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and Pune sending their cars for the auction in Delhi.
Prominent collectors such as Diljeet Titus, Zaheer Vakil, Rishad Kundanmal, Partha Banik, Naveen K, Zain Bilgrami, Bhavesh Solanki... had all contributed to the impressive line-up.
The freshly restored and award winning car – a 1933 Rolls-Royce 20/25 HP – was the top seller at the auction fetching a handsome price of Rs 1.92 Cr (120 pc of its Lower Estimated catalogue price).
This Rolls-Royce was once owned by Viscount Southwood and the owner of Glenlivet – John Martin.
In total, the automobile sale raised Rs 4.50 crores and Rs 12.84 crores for the Modern Fine Art Sale. Full prices are available on www.osians.com.
"Even though certain lots did not sell as expected, the more than full house teeming with art collectors and historic vehicle enthusiasts indicated that this auction will prove to be a game changer for the Historic Vehicles market that is still in its infant stages," it added.
The Indian Modern Fine Arts auction that followed was received well by the market. Total sales registered a 58 pc success for Lots sold.
Artworks by Ganesh Pyne, Ramkumar, N.S. Bendre, J. Swaminathan and Satish Gujral, Chittaprosad all performed well as per market expectations with the F.N. Souza, J. Sabavala, M.F. Husain prices performing below market expectations. UNI