Lalbaugcha Raja auction nets Rs2.64 crore

At the Lalbaugcha Raja auction, the moment a 3-foot tall silver sword was put on auction, stating that it is a ‘sword to win battles’, the item that was pegged at Rs51,000, was ultimately bought by a 22-year-old boy for Rs1.65 lakh.

On the third day of the auction, enthusiasm among bidders had not quelled. The collected auction money only rose from Rs54.78 lakh on the first day to Rs79.54 lakh on the second day. On the third day, an amount of Rs1.29 crore was collected, adding up to a grand total of Rs2.64 crore, compared to last year’s figure of Rs2.16 crore. The item sold at the highest price was a kg of gold at Rs32 lakh.

The auction saw both newcomers and regulars on the last day.

Manish Bhavnani, a 26-year-old restaurateur and Bandra resident, shelled out Rs1.15 lakh for a one feet tall silver modak. “It is a family tradition. We try to buy something each year and next year, we offer it to the lord. After all, everything we have is because of his blessings,” he said.