Avtar Bhat
JAMMU, Feb 8: The bidders from various countries across the globe will take part in the two -days auction of world famous Padder Sapphire beginning here tomorrow morning.
The Sapphire stones of 63.63 grams and 33.50 grams worth crores of rupees will be the star attraction in this auction.
According to official sources, the Auction Committee which has been assigned the job has received some enquiries from bidders outside India also for this year’s auction, which will be held here at Udyog Bhawan, Rail Head Complex on February 9 and 10.
Sources said the Auction Committee has received some enquiries from Bangkok this time while last year the bidders from Sri Lanka had taken part in the auction. The Sapphire Corundum will be auctioned through open market, sources added.
Sources said the stage is set for auction of pure Padder Sapphires worth crores of rupees and all formalities have been completed in this regard with authorities hopeful that bidders from different parts of globe are expected to take part in the same.
Sources said the bidding will be held in presence of the Auction Committee headed by Commissioner Industries as its chairman. Two experts from outside the State will also be present during the auction, sources added.
The exercise will start at 10 am sharp with inspection of Sapphire lot by the Committee members and experts. It will be followed by auction during the noon, sources said, adding the auction will continue for two days.
Sources said the advertisement for bidding has been already made on national as well as international level and the website is open on global level. Any bidder from any country across the globe can take part in the auction after completion of formalities, sources added.
Maintaining that the Committee has the right to withdraw some lots of Sapphires in case the bid is not appropriate, sources said besides the old lots this time 3500-4000 grand fresh Sapphire will also be kept for auction.
Moreover 63.63 grams and 33.5 grams special Sapphire worth crores of rupees will also be kept for auction, sources said, adding the last auction was held in April 2012 for Rs 80 lakh.
The nine member Auction Committee has two members from Industries and Commerce, besides one each from Geology and Mining, J&K Minerals and Finance.
The consignment will reach Jammu from Padder, Kishtwar under security cover and it will be opened before the Experts Committee just ahead of the auction, sources said.
Sources added that the Auction Committee is expecting good response this time.
It may be recalled that world famous Padder Sapphires have a huge global demand.
On April 26 and 27, 14,493,870 grams of the rough Sapphire corundum of Padder was auctioned. During the auction on February 8 and 9 in 2010 the Corporation yielded a revenue of 74.69 lakh, sources added.
The Padder area of the State situated over 300 kilometres from here is famous for extracting world’s best quality Sapphire from mines located in Padder mountains.
The Sapphire reserves in Padder mountains situated at an altitude of 4000 meters were discovered in 1880. But it was extracted on occasions since then because of inhospitable conditions and terrain. However the global tenders were first time called in 2002 but few agencies turned up as they did not want to take risk in working in such difficult and terrain conditions.
The Sapphire of Padder has attracted people across the globe for its peculiarity as it is peacock velvet blue in lights which is not the case with other similar stones.
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