September 13 (India Today) – The Balapur Ganesh laddu was auctioned for Rs 17.6 lakh on Thursday in Hyderabad as Kolanu Ram Reddy – a local resident – emerged as the successful bidder, say reports. Around 19 people participated in the auction that was held ahead of the Ganesh idol immersion.
For the gold-coated laddu that weighs 21kg, Reddy quoted Rs 17.6 lakh as it was offered to him on a silver plate by the organisers, reports Mumbai Mirror.
After winning the auction, Reddy climbed onto a vehicle carrying the Balapur Ganesh and held the laddu on his head as a mark of respect, as per a report in The Hindu.
Kolanu Ram Reddy is a businessman and agriculturist, and his extended family has participated in the previous Balapur laddu auctions.
The Balapur Ganesh laddu was sold for Rs 16.6 lakh during the auction in 2018. Teretipalli Srinivas Guptha, President of Balapur Mandal Arya Vaishya Sangam, had emerged as the winner of the auction last year.
The auction of the Balapur Ganesh laddu commenced in 1994 and was sold for Rs 450 in the first year. Kolanu Mohan Reddy, who was the first winner of the Ganesh laddu, also won it in auction for five consecutive years.
It is believed that the Balapur Ganesh laddu brings good luck, prosperity and happiness to the winner. Apart from distributing the laddu among friends and family, the winner sprinkles pieces of it on agricultural fields and at home.
Bidding for the Ganesh laddu starts at Rs 1,116 every year.