HindustanTimes Sat,23 Aug 2014

Gift auction gets `62 lakh for Lalbaug mandal

Mugdha Variyar , Hindustan Times  Mumbai, October 06, 2012
First Published: 01:12 IST(6/10/2012) | Last Updated: 01:13 IST(6/10/2012)

Eighty-two items, including gold modaks, biscuits, chains and idols offered to the Lalbaugcha Raja this year were auctioned on Friday, fetching the mandal Rs62 lakh. Though the money generated was more than that of last year, rise in gold prices ensured that fewer items were sold on day one.


“Last year, we had auctioned 100 items on the first day and had collected around Rs55 lakh. Higher gold prices and bigger gifts led to fewer items being auctioned,” said president Ashok Pawar.

This year, the mandal received 13kg of gold, including a 1.5kg gold replica of a football. The highest bid placed on Friday was Rs4 lakh for a 100gm gold biscuit.

Yatin Shah, a businessman from Charni Road, bought a gold modak at the auction for Rs36,000. “I have been attending the auction for the last six years. Last year, I had purchased items worth Rs70,000. With the rise in gold prices, I had to settle for a single item this year,” said Shah.

Buying items at the auction holds sentimental value for devotees who sometimes pay more than the market price for the precious metal to bring them home.

“I have been buying items at the auction for the last five years. I keep it at a small temple in my house,” said a Grant Road resident who did not wish to be named. “This year, I got a gold chain with a pendant for Rs78,000,” she said.

more from Mumbai

Mumbai's Colaba-Seepz metro line work to begin soon: Venkaiah

Ahead of the upcoming Maharashtra Assembly polls, the Centre has pushed another big ticket infra project with Union Minister Venkaiah Naidu saying that the groundbreaking ceremony of the Colaba-Seepz metro project will be held soon.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved