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Provenance matters: How proof of ownership weighs in on value of art

Spotlight on provenance ahead of two big auctions

Topics
Art auctions | Nirav modi | Paintings

Kishore Singh  |  New Delhi 

You could be forgiven for believing that anything associated with the fugitive Nirav Modi would be assumed to be tainted — and you would be wrong. When the Enforcement Directorate hired a private auction house to put Modi’s impressive art collection under the hammer, it found ready buyers, and the sale grossed Rs 54.84 crore. A subsequent sale that included some works of art as well as the family’s collection of bags and jewellery did just as well: Rs 53.45 crore.

Warped? Not really. It all boiled down to one thing — provenance. Who a work of art belonged to ...

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First Published: Tue, September 15 2020. 06:04 IST
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