Nirav Modi

The first auction comprises around 40 lots including 15 artworks worth crores of rupees, and the rest will go for auction next week.

The other items will be expensive personal collectibles from Chanel, Piaget,

and Louis Vuitton, Cartier Asymmetric ‘Crash’ wristwatch, etc.

MUMBAI: A collection of 112 lots of prized assets belonging to absconder diamantaireshall be put up for live and online auctions starting here on February 27, officials said.These assets were seized by the ED and the auction is an attempt to recover a part of the dues Modi owes to various banks. The lots going under the hammer in two separate auctions would include major artworks by top contemporary and modern Indian artists, coveted luxury watches handbags and cars.The first auction shall be conducted by Saffronart as the Spring Live Auction here on Thursday, followed by the Spring Online Auction on March 3 and 4.Leading the pack in the sale are works by M F Husain and Amrita Sher-Gil. Rolls-Royce Ghost with advanced features, technology and comforts will also be on auction (live) estimated at Rs75-95 lakhs, besides a 2010 Porsche Panamera for between Rs 10-15 lakhs (online).Over two dozen luxury items including watches worth millions of rupees shall also be on auction. The auctions will feature several top brands of handbags like Birkin and Kelly from Hermes, in the range of Rs 3-6 lakhs.