Nirav Modi's Rolls-Royce Ghost and Porsche Panamera set to be auctioned on February 27th

by Kshitij Rawat | 23/02/2020
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Want a used Rolls-Royce Ghost or Porsche Panamera for relatively cheap in a good condition? Enforcement Directorate will hold an auction for the two on February 27th.

Fugitive businessman Nirav Modi’s seized assets are set to be auctioned soon. Saffronart was chosen last month as the designated auction house. There will be a total of 112 lots of the confiscated goods, including imported handbags, luxury watches, and of course, cars.

Rolls Royce Ghost Auction - Fugitive Nirav Modi
Roll Royce Ghost is the epitome of luxury all over the world

Of all the cars lined-up for auction, the most expensive one is slated to be the Rolls Royce Ghost, followed by the Porsche Panamera. Both these cars had failed to sell at a previous auction. The RR Ghost had start bidding at a base price of Rs. 1.5 crore, while the Panamera was entered at Rs. 60 lakh. The next public auction will be on February 27th, and the base price of both these cars is expected to drop lower for the second round.

Also Read: Indian-Origin Billionaire Owns Over 20 Rolls-Royce In His Collection

There have, however, been some fruitful biddings for the Enforcement Directorate on the eloped businessman’s car collection. Nirav Modi’s Mercedes-Benz GL350 SUV, which began the auction at Rs. 37.8 lakh, was successfully sold in the previous auction. The fugitive had two Rolls Royce Ghosts in his possession, one of which was sold last year, at Rs. 1.33 crore, while the other remains. The Panamera, which is slated for the next auction, had attracted a successful bid at Rs. 53 lakh, which was lower than its base price. That amount was deemed too low, which led to the Enforcement Directorate cancelling the winning bid.

Porsche Panamera Auction - Fugitive Nirav Modi

The Porsche Panamera is one of the most practical sportscars in the world

Rolls Royce Ghost in question is a 2010 model with a rather scratchless grey-coloured exterior colour. It is powered by a 6.6-litre naturally-aspirated V8 petrol engine, capable of producing a maximum power of 568 PS at 5250 rpm and a peak torque of 820 Nm at 1500 rpm. The interior of the car is handcrafted for the most part and is among the most luxurious ones you can buy in India. As for the Panamera, it also looks good in its white paint, and sports no visible damage. It has two engine options available. First is a 4.0-litre twin-turbo V8 with 549 PS and 770 Nm of max power and torque respectively. Second is the same engine but paired to an electric motor, making it a hybrid powertrain. It generates 677 PS and 850 Nm, significantly more than the base engine.

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