A Rs 50-lakh Rakhi. Any takers? | india | Hindustan Times
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A Rs 50-lakh Rakhi. Any takers?

india Updated: Aug 02, 2012 03:58 IST
Chetna Dua
Chetna Dua
Hindustan Times
Highlight Story

If someone tells you there’s a rakhi worth Rs 50 lakh, don’t laugh it off. The rakhi does exist. Shaped like a bracelet and crafted out of 14 karat white gold, it comes encrusted with 500 round diamonds. However, the city’s most expensive rakhi is yet to find a taker, but the makers are hopeful. “Last year, we made rakhis priced at Rs 3 lakh, and sold five pieces. This year we wanted to extend the range, so, we came up with the Rs 50 lakh rakhi,” says Rahul Gupta, director, PP jewellers.

And, like many precious stone and metal rakhis in the markets, the decorative piece is detachable, and can be used as a pendant. “Young girls are buying such rakhis for their brother and his wife. We too, have such pieces on offer, keeping in mind the approaching wedding season,” says Pradeep Goel, director, Shree Raj Mahal Jewellers.

Most Delhiites, however, see no point in spending a fortune on a rakhi. “Who would shell out such a huge amount on a rakhi, even if it can be used as a pendant? I’d rather gift a luxury car to my brother if I had that kind of money,” says Aakriti Mehta, 23. “I don’t appreciate such a gift. Rakhi is not about showing off one’s wealth,” says Tarun Dhiman, 26. Some, however, see the rakhi as an investment.

“If I could, I wouldn’t mind buying this rakhi for my brother as its value will increase with time. Maybe, I could use the pendant later,” says Sonali Chaudhry, 25.

The Rs 50 lakh rakhi may not have any takers yet, but gold, silver and designer rakhis are a hit among youngsters, despite an increase in their rates. “We’ve sold more than 35 designer rakhis under Rs 1 lakh and 3-4 pieces between Rs 1-4 lakh till now,” says Goel.

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