Momentoes from Versace villa prove hit at London auction (Roundup)

Mar 18, 2009, 17:40 GMT

London - Glittering chandeliers, mahogany armchairs and miniature marble busts of Roman emperors were among momentoes snapped up at an auction in London Wednesday of the private possessions of late Italian fashion designer Gianni Versace.

The sale at Sotheby's surpassed all expectations as celebrity-loving buyers splashed out well in excess of 5 million pounds (7 million dollars) even before the auction had closed early Wednesday evening.

Sotheby's had given an estimate of 2 million pounds for the more than 500 lots from the spectacular neo-classical interior of Versace's Villa Fontanelle on Lake Como in northern Italy.

They included furniture, paintings, silver, china and marble busts which decorated the villa in Moltrasio, a venue linked to the glamour of weekend parties attended by celebrities including the late Princess Diana, Sting and Elton John.

Versace, who was shot dead in Miami in 1997, owned several homes, but used the villa near Milan to relax.

A spectacular 19th century gilt-and bronze chandelier was sold for 47,000 pound, fetching more than twice the estimate of 20,000 pounds, the auction house said.

A Venetian double wall mirror of etched glass was sold well above its estimate for 43,000 pounds, while a staggering 97,250 pounds were paid for a set of British-made roundels depicting classical figures, exceeding its estimate of a maximum of 20,000 pounds by nearly five times.

Marble busts of Roman emperors, a bronze statue of Napoleon, walnut tables and mahogany chairs were among the items snapped up by buyers keen to be associated with the world of fashion.

Dozens of small oil paintings were also sold, but a painting by German-born 18th century artist Johann Zoffany, billed as the star lot, was withdrawn from the sale.

Press reports said descendants of Major George Maule, the British officer depicted in the painting, had contacted the authorities claiming that it had been stolen 30 years ago - 15 years before Versace bought it.