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Sotheby auctions villa of Versace at almost thrice of estimates


Sotheby auctions villa of Versace at almost thrice of estimates

Friday, March 20 2009

by Kaustav Das Modak


Sotheby has sold the Lake Como villa of famous designer Gianni Versace for $10.4 million. This figure stands to be nearly thrice of the amount that was projected to be the sale price. The bidding was hot and the auction which started in the day extended till the evening.


This was the last property of Gianni Versace that Sotheby has sold. Mario Tavella of Sotheby feels that the collection of paintings and sculptors by Versace shows his "eclectic taste, eye for beauty and creative genius".


What was originally expected out of the sale was an amount of 2.5 million pounds. But it went on to raise a total fund of 7.4 million pounds.


image source: reuters.com