The guitar which was auctiond 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 Alhaji Aliko Dangote and Mr. 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 winner of the auction is yet to be revealed.
The concert held at the Temple Balmoral Marquee, Federal Palace Hotel, Victoria Island, Lagos.