New Delhi, Aug 27 (IANS): Banking on the strength of Delhi's art market and to celebrate its 100th auction, India's biggest online art auction house Saffronart will be holding its first live auction here Sep 4, organisers said Wednesday.

In the auction titled "The Modern Evening Sale", works of modern masters like S.H. Raza, K.G. Subramanyam, M.F. Husain and Jehangir Sabavala, among others, would be on offer.

Saffronart is an online platform where bidding is done in virtual space, but they do host "live auctions" where people bid for the artworks.

In total, 90 lots will be on sale in this auction.

According to Dinesh Vazirani, co-founder of Saffronart, Delhi has always been a strong market.

"It was important to have physical presence in Delhi as many of our buyers wanted to participate in a live auction here," Vazirani told IANS over the phone from Mumbai.

Vazirani also mentioned that today's buyers are discerning and not merely "spectators" of art.

Hence, Saffronart is acquiring fresh art works of all these modern artists to ensure their 100th sale at the national capital is nothing short of a success.

Earlier, Saffronart held two live auctions in Mumbai.

Ever since the online art auction firm was formed in 2000, Vazirani admitted, it has been a roller-coaster ride, but they have learnt from all good and bad phases.