If you have ever wondered just how expensive a laddu can be, we may just take you by surprise. Only this year, a 21-kilogram laddu has been sold to K. Skylab Reddy for a whopping 14.65 lakh.
The sale was made during an open auction held in Hyderabad’s Balapur district. The Balapur laddu auction is a tradition that commenced back in 1994. The first auction saw the laddu being sold for a price of Rs. 450, of course only in recent times has the bid reached an impressive seven figures.
Intrigued by this year’s bidder Skylab Reddy? Well, he was so named because he was born in the year when the American space station crashed on earth.
25 people bid for the laddu this year with a starting price of only Rs.1,116 and by the end, four bidders were left in the fray, battling it out before Skylab Reddy won after bidding.
The auction only lasted half an hour and ended with Reddy paying the amount on the spot in cash even though by custom the buyer is allowed to pay the sum in the coming year. Part of the mammoth sweetmeat will be shared among the residents of Medchal village. And, part of it will be scattered in the fields in the area for luck, the TOI report says.
[Via:Huffingtonpost]
