Heritage furniture of the city continues to be auctioned in foreign countries. The latest item that was sold at a whopping price of Rs 66 lakh in the US is a teak and aluminum periodicals rack designed by Pierre Jeanneret. The rack was designed for the Panjab University library but it found its way to the US like other furniture sold as scrap.
The auction of the rack was held by the Modern Design auction house at Bonhams, New York, on Saturday.
Ajay Jagga, an advocate, who has been raising the issue to stop such auctions in foreign countries, has said this is the highest price fetched by a single item recently.