WORLD
The proceedings were nearly disrupted about 2:30 PM when Otis' lawyer Ravi Batra entered the auction house to attempt to stop the sale.
A sudden hush descended on the tiny room in the Antiquorum Auctioneers auction house in Manhattan as soon as Lot No. 364--Mahatma Gandhi's five prized personal items--came up for sale.
It was shortly after 3 PM(0130 IST Friday) and a slide show of Gandhi was displayed with a recording of piano music and one of the most contentious auctions that set off an international tempest whose outcome was awaited with bated breath in India began.
The bidders included a dozen people in the room, 30 people on the phone, and about two dozen people who submitted written bids. For the first time, the auction house required bidders to submit bank references.
Before the auction began, 60 bidders had registered, from Australia, Germany, Austria, India, Canada and the US, among other countries. In comparison, there were only six registered bidders in October for a watch belonging to Albert Einstein, which sold for almost 600,000 USD.
The auction room at 595 Madison Avenue was thick with finely dressed bidders, a throng of journalists and a lawyer for the owner of Gandhi's memorabilia James Otis, who was trying to stop the auction after having second thoughts.
The bidders — a mix of Indian-born business executives and die-hard timepiece collectors — began filling a fifth-floor room of the auction house, which specializes in watches.
In the end, after days of controversy that reverberated in India, the lot sold for 1.8 million USD to Vijay Mallya, an Indian liquor and airline magnate.
The controversy over the auction drew comparisons to an incident at Christie’s in Paris last month in which a Chinese collector said he was the winning bidder for Qing Dynasty bronze sculptures but refused to pay, saying he was sabotaging the auction because the works had been looted in the 19th century.
While the Gandhi items were believed to have been legitimately obtained, both sales pitted auction houses against governments that could ultimately do little more than protest.
The five objects took up half of a glass display case, atop a yellowed copy of the Jan. 30, 1948, issue of an Ohio newspaper, The Piqua Daily Call, with the headline: "Gandhi Shot and Killed Today.” Himadri Roy, 72, an engineer and real estate investor who had flown in from Montreal, had tears in his eyes as he examined the case and recalled meeting Gandhi as a 10-year-old in India.
For the first time, the auction house required bidders to submit bank references. "We are concerned about what happened at Christie’s," Antiquorum’s chairman Robert Maron was quoted by New York Times as having said.
At the point when the bidding reached one million dollars, the contest essentially narrowed to Tony Bedi, representing Mallya, and Arlan Ettinger, the president of Guernsey’s auction house, representing a former Indian cricketer Dilip Doshi, who was said to be interested in donating the items to the Indian government. The price continued to rise until Bedi made the winning 1.8 million USD bid, and the room burst into applause.
The proceedings were nearly disrupted about 2:30 PM when Otis' lawyer Ravi Batra entered the auction house to attempt to stop the sale. Julien Schaerer, an official of the auction house, which would not disclose its commission, said Otis had entered a "legally binding agreement" to sell the items.
Employees escorted Batra from the building. He later said that Otis did not plan to challenge the sale if Mallya agreed to turn the items over to the Indian government, although it was not immediately clear whether he would do so.
Maron said he was delighted that the items would return to India for public viewing. "We had hoped that would be the result," he said.
Raima Sen mourns Bharat Dev Varma's demise, pens emotional note for 'great father, great husband'
DNA TV Show: Ahead of Maharashtra poll results, MVA, Mahayuti engage in resort politics
Maharashtra: Stage set for assembly poll results; Mahayuti, MVA confident of their victories
All set for vote counting in Jharkhand tomorrow; NDA, JMM-led alliances confident of winning
Watch: Australia star inquires Rishabh Pant about his next IPL team, gets 2-word reply
Shah Rukh Khan’s house Mannat was first offered to his industry rival…, but he refused because...
The Visionary Who Promises a Blue Sky for India: Holger Thorsten Schubart’s G20 Climate Speech
The Surge of High-End Living: Luxury Residential Market to Outpace Other Segments
FeFCon 2024 to be Held in Bangalore: A Premier Event on Fever Management
'That’s wild': Noida man turns cigarette butts into teddy bears in viral video, watch
London Airport evacuates passengers over security threat, thousands stranded
The World’s First Innovative Iron Supplement to Combat Iron Deficiency and Anaemia
Meet grandmother who became fashion icon after trying on her granddaughter’s clothes
IND vs AUS: Rishabh Pant joins Virat Kohli, Rohit Sharma in elite WTC list, becomes 3rd Indian to...
'All scripted drama...': Puneet Superstar allegedly assaulted by influencers in viral video, watch
Actress Ana de Armas caught kissing Cuban President Miguel Díaz-Canel’s son in viral photos
Oreshnik's Shadow: Will Russia's hypersonic missile force west to back down?
‘You’re So Beautiful’: World’s tallest woman meets world’s shortest woman over tea, pics go viral
Delhi-NCR Air Pollution: Consequences of GRAP-4 are drastic, may have adverse effects, says SC
Delhi-NCR Air Pollution: Schools likely to stay closed till..., check city-wise update
Maharashtra: 3 killed, 9 hospitalised after gas leak at fertiliser plant in Sangli
THIS farm is selling a cup of coffee for Rs 28000, but there's a twist, it is...
Chhattisgarh: 10 Maoists killed after encounter with security personnel in Sukma
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
IND vs AUS 1st Test: KL Rahul's dismissal sparks DRS controversy in Perth Test
Dense fog, heavy rain predicted in these states till November 25; check here
Oreshnik Hypersonic Missile: Which nations are within its range?
Bihar teacher, principal reach school in drunken state; know what happened next
'I have faced a lot of...': Arjun Kapoor REVEALS his biggest fear amid break up with Malaika Arora
How millions of Indians may get affected due to US indictment of Gautam Adani in bribery case
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says 'missing someone is okay but...'
After Bibles, watches and sneakers, Donald Trump is now selling autographed guitars, price is...
Delhi pollution: Air quality improves to ‘very poor’ category, AQI at...
Vladimir Putin's BIG threat, warns he could strike UK with new ballistic missile if...
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
Somebody misbehaved with Alia Bhatt on Highway sets then Imtiaz Ali had to...
Zomato CEO Deepinder Goyal reveals twist behind Rs 200000 job fee, closes application window
Days after Ratan Tata's demise, Tata Group's Rs 131000 crore company inks pact with ADB for...