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Olympic torch goes under the hammer

— Photo: Xinhua

Wang Jinjun, the last torchbearer.

BEIJING: One of the Beijing Olympic torches was sold at an Olympic-themed auction on Friday, with a price of 2,60,000 yuan (about $37,843), 173 times higher than the cost.

With an asking price of 1,20,000 yuan, the final bid for the torch reached 2,91,200 yuan, plus the commission, said the daily The Beijing News on Sunday. The cost of each torch was around 1,500 yuan, the newspaper quoted an official from the Beijing Organising Committee for the Olympic Games (BOCOG) as saying. The auction was held during Olympex, the Olympic Expo Beijing 2008, featuring Olympic-themed products.

Torches used in previous Athens, London and Berlin Olympics and the ongoing Beijing Olympics were warmly welcomed by the buyers. Of all torches, the Beijing Olympic torch, the red and silver “Xiangyun” torch, resembling an ancient scroll and featuring “lucky cloud,” attracted the most attention.

Its price exceeded any other torches, even the Berlin Olympic torch in 1936, when the first Olympics torch relay was launched. The Berlin torch hit 1,68,000 yuan finally, and the average price of other torches remained from 50,000 yuan to 70,000 yuan. The auctioneer, China Guardian Auctions Co. Ltd, however, refused to reveal the detailed information of the torch-seller as well as the buyer, saying “it was a personal business.” The IOC had made no special rules yet for bearers on how to deal with the torch. — Xinhua

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