A vintage fender guitar owned by legendary Nigerian musician, King Sunny Adé, was on Sunday auctioned for N52.1 million in Lagos.
The guitar which was auctioned by Dr. Jogun Onabanjo, Certified Auctioneer and Chief Executive of Onabanjo and Onabanjo & Co, is known to have been designed by Nigerian artist Victor Ehikamenor.
The glittering artistic piece was revealed at the King Sunny Ade‘s 70th birthday concert tagged Sunny on Sunday, which had an audience comprising of Nigeria’s richest and top celebrities.
The starting bid of nine million Naira was followed by a very competitive bid by the well-heeled audience consisting of influential businessmen such as Aliko Dangote and Femi Otedola, and more closing at N52.1 million.
While the bid was in progress, the asking price for the guitar doubled to N17m under two minutes before exceeding the N50m benchmark in 15 minutes.
The bid was eventually won by Nigerian mogul, Tunde Folawiyo, the son of late Nigerian businessman, Wahab Folawiyo.
According to Forbes, Tunde Folawiyo Tunde is the managing director of the Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, shipping, real estate and engineering.
His father, Wahab Folawiyo, a well-known Nigerian businessman and Islamic leader, started the group in 1957 as a commodities trading outfit and served as chairman until 2008 when he passed away. Folawiyo now calls the shots.
The company’s oil exploration firm, Yinka Folawiyo Petroleum, owns a 60% interest in an oil block that contains the Aje offshore field.
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