The first ever Osian's-Cinefan Film Festival auction of Indian cinema memorabilia was a grand success in-which with sales reached Rs 6,955,200 with 86% lots sold with records established across all types of publicity material and memorabilia. This is the first time the film fraternity and cinema enthusiasts participated generously in the auction that saw live competitive bidding from the floor and telephone bidders which enthralled the attendees. Aamir Khan and wife Kiran Rao bid for six collector's items valued at Rs. 321,233 which included, a jacket worn by the late Shammi Kapoor for Rs.88, 000. While the Gurgaon-based Kingdom of Dreams successfully bid Rs.15.6 lakh for acquiring full rights, to the last recorded song of the legendary Kishore Da for its new musical show, 'Jhumroo' which celebrates the spirit of Kishore Kumar.
Talking about the auction and Indian cinema, Founder Chairman, Neville Tuli says, "After eleven years of hard work by Osian's, India can proudly say it has the basis of an international standard market for its cinematic heritage, hereafter no one will dismiss these items as raddi (garbage). They are collectibles and they have significant financial value. Though there is still a significant distance to cover for an in-depth market to emerge and hundreds of galleries and dealers to surface in a legitimate manner." He added that the film fraternity now feels a sense of respect for its cinematic heritage and the growth will be exponential and hopefully the task of preserving our cinematic heritage will be somewhat easier.
The auction also had very rare photographic stills mounted on lobby cards and Show-Cards from Aan, Mother India, Dil Diya Dard Liya, Leader, Humraaz, Zanjeer, and Aan Milo Sajna. The auction also included rare costumes such as the famous scarf from Junglee circa 1961, worn by Shammiji worth Rs. 156,000, the sweater from Andaz circa 1971 also worth Rs.150,00, the Shehnai, and the last unreleased song by Kishore Kumar completed just three days before his demise in October 1987. Posters from films with Rajesh Khanna, such as Aradhana, Amar Prem, and Andaz fared exceedingly well with new records for all.
With the memorabilia rising to more than 200%, the average lot price was at Rs. 46, 679 was a major improvement. The total percentage value of the lots sold over higher estimates was at 88.09 % while those sold above lower estimates was at 140.94 %. Auction lots on offer consisted of rare posters, show-cards, pictures, song-synopsis booklets amongst other artifacts. The highlights that comprised the auction lots were forty-five signed black and white photographic stills by the late Dev Anand worth Rs. 400,000. A rare set of Satyajit Ray designed film posters of the 1960s, a turquoise ring in silver worn by Farooque Sheikh in Muzaffar Ali's famous Umrao Jaan worth Rs. 96,000, a cricket bat signed by Aamir Khan and the team from Lagaan worth Rs.156, 000.