E-aution: CH-01-BH series a flop show; 0001 fetches all-time low bid | punjab$chandigarh | Hindustan Times
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E-aution: CH-01-BH series a flop show; 0001 fetches all-time low bid

The e-auction of a new series, CH-01-BH, was a major flop, as the number 0001 fetched an all-time low bid of Rs 89,000.

punjab Updated: Jul 21, 2016 13:38 IST
Nikhil Sharma
e-auction

The e-auction of a new series, CH-01-BH, was a major flop, as the number 0001 fetched an all-time low bid of Rs 89,000.

The Registering and Licensing Authority (RLA) earned Rs 57.7 lakh from its three-day auction — Rs 19.52 lakh less than the previous auction for CH-01-BG series — that concluded on Wednesday.

The previous and first ever e-auction of the series of numbers CH-01-BG fetched the RLA Rs 77.2 lakh.

The number ‘0001’ was bought in the name of Cloudsteer Technology Pvt Ltd for Rs 5.54 lakh against the reserve price of Rs 50,000.

This time, the number ‘0003’ was bought by Talwar Jewellers for Rs 2.02 lakh against the reserve price of Rs 30,000. The number ‘0002’, bought by one Sher Singh went for Rs 1.75 lakh. It was bought against the reserve price of Rs 30,000.

The number ‘0005’— which fetched Rs 1.70 lakh — was sold to Malke Radiators Private Limited, against the reserve price of Rs 30,000.

The number ‘0008’ was sold to one Dinesh Jindal for Rs 1.56 lakh.

The special number 0007, popular because of famous James Bond film series, fetched Rs 1.55 lakh was sold to Setia Buildcon Private Limited. The number fetched Rs 3.05 lakh during the last auction of the CH-01-BG series.

SPECIAL NUMBERS NOT SO SPECIAL

The number ‘0013’, which usually remains popular among the Sikh bidders, was auctioned for just Rs 37,000 to one Gurjit Singh. The number 0786, considered as the sacred number, was sold to one Satia Industries Limited for just Rs 56,000.

“I am shocked as well as happy that I got the number for just Rs 89,000. The e-auction concept has brought in a transparency in the auction system. I could have never bought this number for such a minimal price if it was an open auction,”said Jasbir Kumar of Sector 44, a realtor, who bought the number 0001 for his Toyota Innova car.

Registering and Licensing Authority Amit Talwar did not respond to the repeated calls.

A senior RLA official, on the condition of anonymity, said, “The overall response is really disappointing. Only 292 bidders participated in the e-auction. A major reason is that people are not well-versed with the online auctioning process. Moreover, the reason behind high bids during the open auction was ego clashes between bidders.”