The Economic Times

Foreign Ministry's first public Toshakhana auction features Rolex watches, gold biscuits and silver daggers

For the first time, the Ministry of External Affairs is auctioning around 300 diplomatic gifts, including luxury watches and gold biscuits, received by officials. This 'treasure house' collection, dating back to Mughal times, offers items with reserve prices from Rs 3,000 to Rs 19 lakh. The auction, under revised rules, sees proceeds going to the Consolidated Fund of India, with future sales potentially featuring gifts to ministers.