Connect with us

RJ Market Watch

300 Jewellers Take Part in Income Tax Department’s Auction of Seized Gold, Silver in Jaipur



JAIPUR: Rajasthan income tax (I-T) department held a public auction of seized golds, silver as well as precious and semi-precious stones in the city on Wednesday. While approximately 80 grams of gold, and 24 antique silver coins were bought by eager buyers, the stones valued at approximately Rs 3.5 crore remained unsold. There were 300 jewellers and other interested buyers who registered for the auction.

The auction of gold slot bought by one jeweller comprised one chain, five coins, one ring and a piece of the metal. It was purchased for Rs 35,000/10 grams. The income tax department gave a concession of 10% from the  from the market price and the bidding started from Rs 30,000/10 grams.

For the 24 silver coins weighing 278 grams, the highest bid was of Rs 75,000/kg. Navratan, who bought the coins, told TOI, “I have purchased them for my personal collection. There wasn’t much difference from the market price and I spent approximately Rs 20,000 for the coins.

Courtesy: Times of India

Latest News