Monday, 12 December 2016
Folawiyo’s son beats Dangote in bid to buy KSA’s vintage guitar
One of the sons of late business mogul, Wahab Iyanda Folawiyo, Tunde Sunday pulled a fast one of billionaire Aliko Dangote and Femi Otedola to but a vintage guitar belonging to Juju Music maestro, King Sunny Ade.
The occasion was the auction sale organised by family and associates to mark the 70th birthday anniversary of the musician on Sunday.
With the bid opening at N9million, the bid was eventually won by Nigerian mogul, Tunde Folawiyo who paid a whooping sum of N52.1m for the prized item.
The guitar, which was auctioned by Jogun Onabanjo, Certified Auctioneer and Chief Executive of Onabanjo and Onabanjo & Co, was designed by Nigerian artist, Victor Ehikamenor.
Folawiyo is the managing director of the Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, shipping, real estate and engineering.
His firm, Yinka Folawiyo Petroleum, owns a 60% interest in an oil block that contains the Aje offshore field located in Lagos.
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.
While the bid was in progress, the asking price for the guitar doubled to N17 million under two minutes before exceeding the N50 million benchmark in 15 minutes.
By Seun Agboola, Lagos