300 Jewllers take part in auction of seized gold, silver, precious and semi-precious stones

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JAIPUR: On Wednesday In Rajasthan income tax department (I.T Department) held a public auction of seized precious gold, silver, precious and semi-precious stones in the city. While about 80 grams of precious gold and 24 antique silver coins were purchased by excited buyers, the stones valued at about Rs 3.5 crore remained unsold. There were approximately 300 jewellers and other interested consumers who listed for the auction.

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However, many buyers were upset with the high Value of the precious and semi-precious stones. The income tax department only wanted to sell the entire slot amounting to approximately Rs 3.5 crore or incomplete slots which were also over Rs 50 lakh separately and this is too high.  

A jeweller in Jaipur said, “Every jeweler made with the gemstone works with different material and there is no point in purchasing the entire lot because many of the gemstones will not be used.”

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