 "Modi's pinstripe suit sold for Rs 4.3 cr to Surat-based businessman")
Prime Minister Narendra Modi on Friday left the likes of pop star Madonna and action superstar Bruce Lee behind when a blue pinstripe suit with his name etched on it went under the hammer for Rs 4.31 crore. He wore the suit during US President Barack Obama’s visit to India last month.
Bids went as high as Rs 5 crore but were rejected as they came in two minutes after the auction closed at 5 pm, said District Collector Rajendra Kumar.
According to media reports, the jacket Madonna wore in Desperately Seeking Susan fetched $252,000 (about Rs 1.51 crore) in a 2014 auction, while Bruce Lee’s coat from his last film, Game of Death, was auctioned for $77,000 (about Rs 46 lakh).
Ending the three-day scramble for the controversial suit that had the prime minister’s full name, Narendra Damodardas Modi, woven into the fabric as stripes, Laljibhai Patel, a diamond merchant in Surat, placed the winning bid. Patel told the media here he would put the suit on display in his factory and had paid such a hefty sum for “a social cause”. The proceeds from the auction of the suit, along with 455 other items belonging to the prime minister, will go to one of his pet projects, the Clean Ganga Mission. Patel runs a diamond polishing firm, Dharmanandan Diamonds. Starting as a small partnership firm in 1985, the firm has grown to employ 3,800 skilled workers now and exports diamonds.
Modi used to auction his possessions when he was the chief minister of Gujarat, too, to raise funds for welfare schemes. Those, however, were relatively low-profile events, cumulatively fetching a little over Rs 90 crore.
ALSO READ: How Modi turned Rs 10-lakh monogrammed suit controversy into smart marketing opportunity
Bidding for the pinstripe bandhgala suit started on Wednesday, with the first bid for Rs 11 lakh. Not just wealthy diamond merchants and local traders, but even two children, Vedant (seven) and Siddhant Karnavat (13) bid for the suit with their pocket money.
The bidding intensified on Thursday when a Surat-based diamond trader offered Rs 1.48 crore and left behind a Bhavnagar businessman who bid Rs 1.41 crore.
Bids went as high as Rs 5 crore but were rejected as they came in two minutes after the auction closed at 5 pm, said District Collector Rajendra Kumar.
According to media reports, the jacket Madonna wore in Desperately Seeking Susan fetched $252,000 (about Rs 1.51 crore) in a 2014 auction, while Bruce Lee’s coat from his last film, Game of Death, was auctioned for $77,000 (about Rs 46 lakh).
Ending the three-day scramble for the controversial suit that had the prime minister’s full name, Narendra Damodardas Modi, woven into the fabric as stripes, Laljibhai Patel, a diamond merchant in Surat, placed the winning bid. Patel told the media here he would put the suit on display in his factory and had paid such a hefty sum for “a social cause”. The proceeds from the auction of the suit, along with 455 other items belonging to the prime minister, will go to one of his pet projects, the Clean Ganga Mission. Patel runs a diamond polishing firm, Dharmanandan Diamonds. Starting as a small partnership firm in 1985, the firm has grown to employ 3,800 skilled workers now and exports diamonds.
Modi used to auction his possessions when he was the chief minister of Gujarat, too, to raise funds for welfare schemes. Those, however, were relatively low-profile events, cumulatively fetching a little over Rs 90 crore.
ALSO READ: How Modi turned Rs 10-lakh monogrammed suit controversy into smart marketing opportunity
Bidding for the pinstripe bandhgala suit started on Wednesday, with the first bid for Rs 11 lakh. Not just wealthy diamond merchants and local traders, but even two children, Vedant (seven) and Siddhant Karnavat (13) bid for the suit with their pocket money.
The bidding intensified on Thursday when a Surat-based diamond trader offered Rs 1.48 crore and left behind a Bhavnagar businessman who bid Rs 1.41 crore.