Business Standard
Thursday, Feb 16, 2012
Sponsored by  
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
|||||Opinion|||| 
 Section Home | Editorials | Compass | BS People | Columnists | Lunch with BS
Home > Opinion & Analysis Live Markets | Commodities
 

Devangshu Datta: In the spirit of dhando
Gandhiji may have been bemused by the auction prices but approved of dhando
Devangshu Datta / New Delhi Mar 14, 2009, 00:16 IST

The market for Mahatma Memorabilia received a massive boost with the auction of his spectacles. Auctions are great fun. Done traditionally as in this instance, an auction is a platform for sober, well-dressed individuals to twitch, scratch and grimace.

 Click here for Cloud Computing
 
Quite apart from Closeau imitations, the best thing about auctions is that they are price-discovery mechanisms. Given that Vijay Mallya was prepared to put up $1.8 million for a pair of glasses, a 1910 silver Zenith pocket watch, sandals, a bowl, a thali and letters of authenticity, others would be prepared to pay largish sums for bits and bobs that can be linked to Gandhiji.

Heartened by that, octogenarians who had any contact with him are now rifling through their old correspondence. Gandhiji churned out an enormous volume of correspondence and those letters can now be valued in cold cash as opposed to warm memories.

This would have pleased the old man. In his lifetime, he frequently demonstrated a firm grasp of dhando — a Gujarati word that encompasses an entire philosophy and can only be inadequately translated as commerce. Gandhiji had no reservations about selling his autograph (usually at Rs 5 per signature) to raise money for causes close to his heart.

Assuming reasonable levels of inflation since his demise, that Rs 5 is equivalent to about Rs 1,200 in current terms. The Antiquorum Auction suggests at least a couple of zeros can be added to the inflation-adjusted value.

A charkha that he had personally used, or his porta-enema kit, could fetch a lot more than a mere letter. So much so that one wonders if the sparse personal effects scattered across the Gandhi ashrams and in the hands of various descendants and associates are now worth more than the real estate itself.

Whenever collectibles become high value, attempts are made to try and fake them. Facsimile 1940s Superman comics and fake Hitler diaries are par for the course. The key is provenance. In the collectibles world, the twinned processes of authentication and provenance consist not only of proof that the artefact is genuine, but of legitimate ownership. Lack of provenance is why art thieves find it difficult to fence goods at anything approaching Sotheby values.

Faking the man's signature or getting an appropriately elderly-looking charkha constructed would hardly be a problem. Amar Colony Market can knock up the latter and a little magic with a scanner and photoshop could churn out the former.

Could one create a market in fake Gandhi artefacts? The problem lies in his ostentatiously simple lifestyle and the extensive day-by-day documentation of where he was, and who he met. He had few personal possessions and it is possible to make an admittedly long list of his acquaintances. Perhaps one could slip the odd anonymous jailer through the cracks?

It could help fakers that those who knew the Mahatma personally are now very old. Their memories are fading and nobody would be terribly surprised if a busted pair of specs was discovered somewhere in an old trunk.

Much has been made of the fact that the buyer is a liquor baron. That wouldn't have bothered Gandhiji at all. He was anti-alcohol. He was also anti-prohibition, believing that it was a personal decision to abjure liquor. There is no way he would have endorsed the web of corruption that passes for prohibition in 21st century Gujarat.

There are two things Gandhiji would have disapproved of during this entire imbroglio. He would have considered the hoo-hah in Parliament a waste of public money. The other was the attempt to dissuade the owner from selling. Otis wanted to sell, Mallya bought. Gandhiji may have been bemused by the prices but he would have approved of the embracing of dhando.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Wall Street opens flat as data offsets Moody's warning
- Govt to talk to all parties for consensus on Lok Pal
- Kingfisher needs more funds to remain going concern: auditors
- We don't want player retention policy in future IPL: Roy
- ONGC may invoke force majeure clause for 2 KG blocks
  Read Business news in 
- Now property search gets more exciting than ever before!
- IndianOil Citibank Card at Zero annual card fee
- We live for our family. have you secured them?
- Earn fuel worth Rs.2400 with Citi
- India's No. 1 Property Site. Click here to know more..
- Diseases earlier, Saving Costs, Extending Lives. Know More..
- Win a Business Class Ticket to Europe..Know more..
- Enjoy the journey as much as the destination. click to know more..
- Exim Bank Conclave on India - Africa Project Partnership. Know more..
- Medium-sized businesses are the engines of a smarter planet.
- Be part of it The World's Largest Aircraft.
- Creating Wealth made simple the SIP way. Know more..
- Only Developer to give a guarantee on time space & rate.
- Office 365 for professionals and small businesses.
- Buy Your Property with Our Triple Guarantee in India.
- Improve Patient Care & Experience. Click here to know more
-  Introduce a New Automotive Luxury Car.. know more
- Health is Wealth..... Insurance + Savings... Know More...
Sorry, comments to this story are closed
Latest Messages
Posted by: rakesh
Dear sir, Thank you so much for your consistent batting line up from the days of outlook magzine, i make it a point to read most of articles you have always been a multiple talent personality. keep up going. so much to do so much lot to be done. yours sincerely, rakesh basa
SmartInvestor+ E-zine
  Pay Rs.747/- for 3 years and
  get a branded watch FREE

  Subscribe Now
Most Popular
Read
E-Mailed
Commented
   
- Leela parts ways with Kempinski
- Kanika Datta: The importance of being SRK
- Nestle: Food for thought
- Tailor-made but not good enough
- Star-studded jury honours corporate excellence
 
 More  
BUSINESS STANDARD INDIA 2012
  Now available at Special price
  Rs.395/- Only
  Buy Now
  Now available on the Kindle Store...
  BS Specials  
    Full coverage of elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa
  Hot Searches  
 
IRFC bond |  Antrix-Devas |  Rafale fighter |  Junglee |  IPL 5 |  Dhanlaxmi Bank |  Thomas Cook |  TCS |  Sarfaesi Act |  Vodafone |  Aakash tablet |  Sodexo |  Rupee |  Samsung Galaxy Note |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  Anna Hazare |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us