Update: Gandhi's Personal Effects

Marketwatch is reporting the personal effects of Gandhi were sold in NY for $1.8 million, against a $20,000.00 to $30,000.00 estimate, which was always considered very low for the items. The effects were purchase by Indian industrialist Mijay Mallya who owns Kingfisher Beer. According to Marketwatch the bidding was intense, with a large group from New York's Indian community attending the sale and bidding. According to reports, Mallya plans on bringing the effects back to Indian for display but has not yet to decide if he will donate the items, including a gold watch, glasses, a plate and bowl and a pair of sandals to the Indian government.

Now for the more interesting aspect of the sale. First the Indian government tried to block the sale and also tried to negoatiate a direct sale with the owner, to no avail. Then, just before the lots were to be auctioned, the owner tried to pull them from the sale. The auction house, the Antiquorum refused. So expect some litigation before the items are released to the new purchaser. We will try to follow any legal issues and aspects as the finalization process of the sale continues.

To read the Marketwatch report click HERE.