International News
India tries to halt Sotheby’s auction of Piprahwa gems found with Buddha’s remains
The Indian government has issued a legal notice to halt the “unethical” auction by Sothebys of ancient gem relics, which it said should be treated as the sacred body of the Buddha.The auction, which has prompted an outcry from scholars and monastic leaders, is scheduled for 7 May, and the gems are expected to sell for about HK$100m (£9.7m).
Its ministry of culture said the auction of the Piprahwa gems in Hong Kong this week “violates Indian and international laws, as well as United Nations conventions”, and demanded their repatriation to India “for preservation and religious veneration”.
The legal notice has been served on Sotheby’s Hong Kong and Chris Peppé, one of three heirs of William Claxton Peppé, a British colonial landowner who in 1898 excavated the gems on his estate in northern India, who are selling the relics.
Unearthed in 1898 by British estate manager and engineer William Claxton Peppé, the relics were discovered inside a sandstone coffer within the Piprahwa stupa, widely believed to be the ancient city of Kapilavastu, the Buddha’s childhood home. Among the contents were five reliquaries, including one of rock crystal with a fish-form handle, containing nearly 1,800 gemstones, precious metal sheets, bone, and ash.
An inscription in late Mauryan Brahmi script—deciphered by scholars Vincent Smith and later Harry Falk—affirmed the relics belonged to the Shakya clan and held the corporeal remains of the Historical Buddha. This epigraphic evidence, combined with early Pali texts like the Mahāparinibbāna-sutta, makes Piprahwa the only authenticated site of Buddha’s relics confirmed through inscription.
Following the discovery, a portion of the relics was presented to King Rama V of Siam (Thailand), and enshrined at Wat Saket in Bangkok, Shwedagon Pagoda in Yangon, and in Sri Lanka. The Indian Museum in Kolkata holds the majority of the gemstones, but the Peppé family retained a portion—approximately one-fifth—which is now coming to market.
DiamondBuzz
Diamond Slump forces Debswana to diversify into copper, platinum and solar
Diamond-centric mining models is giving way to broader resource portfolios
Debswana Diamond Company, the 50–50 joint venture between the Botswana government and De Beers, is moving to diversify into copper, platinum and renewable energy as the prolonged downturn in natural diamond demand pressures earnings and forces the industry to rethink its growth strategy.
The company’s board has approved plans to invest in a portfolio of non-diamond projects after revenue fell 46% in 2024, the latest available financial year, highlighting the scale of the downturn in the global diamond market.

The move signals a strategic shift toward commodities with stronger long-term demand fundamentals, particularly copper, which is central to global electrification and energy-transition infrastructure.
Debswana’s diversification reflects a broader industry pivot as diamond producers confront weak consumer demand, rising competition from lab-grown stones and elevated inventories across the supply chain.
The shift is also visible among smaller exploration companies. Botswana Diamonds recently rebranded as Botswana Minerals, signalling its own strategic focus on copper exploration rather than diamonds.
Together, these moves underscore a growing consensus across the sector: the era of diamond-centric mining models is giving way to broader resource portfolios anchored in energy-transition metals.
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