Reddy, who had been gifted the bracelet by senior party leader V Hanumantha Rao, said he would donate the money for farmers' welfare.
Rao gifted the bracelet to him following a suggestion made by Gandhi in a lighter vein, Reddy told reporters.
A businessman purchased the bracelet at the auction here for Rs 20 lakh. Reddy said he would donate the money for the welfare of farmers.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)