Free Trial

Sotheby's postpones auction of jewels associated with Buddha after backlash from India's government

This undated photo released by Sotheby's, shows the Pirprahwa Gems of the Historical Buddha. (Sotheby's via AP)

HONG KONG (AP) — Sotheby’s on Wednesday postponed an auction of jewels associated with Buddha’s remains after the Indian government opposed the sale and demanded it be halted.

The gems for auction were found buried together in reliquaries with the corporeal relics of the historical Buddha and discovered in northern India in 1898, the auction house said. They dated back to around 240-200 BC, it said.

But India's Ministry of Culture said in a Facebook post on Tuesday it had issued a legal notice to Sotheby’s Hong Kong to demand the immediate halt of the sale, accusing the auction of violating “Indian laws, international norms and UN conventions.”

In its letter to Sotheby's Hong Kong dated Monday, posted on Facebook, it said the auction involves sacred Buddhist relics that constitute the inalienable religious and cultural heritage of India and the global Buddhist community. It demanded the repatriation of the relics to the Indian government and a public apology from the auction house and Chris Peppé.

Peppé is a great-grandson of British William Peppé, who excavated the relics.

The Indian government warned in the letter that failure to comply would result in legal actions and public advocacy campaigns highlighting the auction house's role “in perpetuating colonial injustice and becoming a party to unethical sale of religious relics.”

Sotheby's announced the postponement in a statement on Wednesday, acknowledging the matters raised by the Indian government and saying it was done with the agreement of the consignors.

“This will allow for discussions between the parties, and we look forward to sharing any updates as appropriate,” it said.

Some of Sotheby's webpages about the auction were no longer available on Wednesday.

The Indian Ministry of Culture said on Facebook on Wednesday it was “pleased to inform” that the auction was postponed after its intervention.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Sectors With Massive Momentum You Can’t Afford to Miss
Palantir’s Big Moves: Profit-Taking, Price Targets & AI Potential
Buy Early: 3 Tech Trends With Millionaire-Making Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines