Business Standard
Monday, May 28, 2012
Sponsored by  
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 

Gandhi items fetch $296,000 in commission
Press Trust of India / New York Mar 07, 2009, 13:22 IST

Mahatma Gandhi's iconic round eye glasses and other personal belongings, sold for $1.8 million (Rs 9.3 crore) at an auction here, fetched as much as $296,000 (RS 1.53 crore) in commission, according to Antiquorum Auctioneers.

A day after the precious articles went under the hammer, the auction house announced that Gandhi's pocket watch, sandals, glasses, bowl and plate were "indisputably" the star attraction at the auction and fetched a total of $2.096 million, commission included.

 
It said it was pleased that the objects -- bought by Indian liquor baron Vijay Mallya -- will be returning to India.

ALSO READ: Did not participate in auction at Govt's behest: Mallya

ALSO READ: Customs duty and import restrictions on Gandhi artefacts to be relaxed

The bowl and plate, which came under the hammer, were used by Gandhi for his last meal.

"The sale of the spiritual and political leader of India's possessions had stirred worldwide interest and had been closely watched by collectors and supporters of Gandhi worldwide," Antiquorum Auctioneers Chairman Robert Maron said in a statement here last night.

Antiquorum also said it was pleased that the articles will be returning to India and "we know this was the hope of the Indian people, as well as many others around the world."

Just before the auction, owner of Gandhi's items James Otis had agreed to withdraw them from the auction but Antiquorum did not agree. It argued that it could have a big liability if it allowed the items to be withdrawn from the auction as more than 30 bidders had already registered for them and some had even sent in written bids.

As soon as the auctioneer announced the items as sold, a large number of Indian-Americans, who had come to witness the auction or to bid, burst into loud round of applause. The auction activity was suspended for several minutes as the community leaders congratulated each other.

Mallya, who had in 2004 bought Tipu Sultan's sword from a London auction house, said he was bringing Gandhi's memorabilia to Delhi and would be "presenting these to the government."

However, the industrialist, who was in France, appeared displeased at the government's claim that it had arranged for procurement of Gandhi's personal effects through him, saying his participation in the auction was purely a personal decision and a matter of pride.

In New Delhi, the government had earlier said it worked on various options, one of which bore fruit as the bid was won through Mallya in a strategy to ensure that the items do not fall into the hands of a foreigner.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets end flat
- Turbulence ahead for airlines despite oil price drop
- Weak rupee may bring cheer to NRIs, expats
- LIC buys PSU stocks, sells pvt sector blue-chips in Q4
- Banks may lower deposit rates as inflation eases: Report
  Read Business news in 
- Journey on, We are by Your Side. Click here to know more
- Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol.
- The Best Seller is Also the No. 1 in Mileage. Click here
- Watch The Film Here. Click here to know more..
- Leader in Passenger Car & Automobile Tyres. Click here
- 1 billion in saving for Unilever without any tangles.
- Learn How One City is Running on FOOD SCRAPS.
- One Partnership Endless Possibilities. Click here to know more
- Helping doctors detect diseases earlier, saving costs & extending lives.
- 36 Lakhs can get you a pool of Luxuries. Click here
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
Sorry, comments to this story are closed
Latest Messages
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Renu Kohli: Rupee: depreciated tactics
- Mobile handset companies bet on Indian app makers
- CBI arrests Jagan Andhra on alert
- RIL wants import-parity price for its gas
- Gold imports fall 32% on strict govt measures
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  Hot Searches  
 
Apalya |  Air India |  GAAR |  Agni  |  Solar eclipse |  Satyamev Jayate |  SRK |  Aamir Khan |  IPL |  Ertiga |  Sarfaesi Act |  Vodafone |  JP Morgan |  Transfer pricing |  Rupee |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  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
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us