Rs 2k notes offered for Rs 1.5L on eBay

This is level of reporting today that leading newspaper / media house report that Rs 2000 note is offered for 1.5 lacs on eBay. What the media does not realize is that half the items on eBay don't get sold. It does not take any money to list any article on eBay for whatever price. On 22-Nov-2016, there was a list on eBay with the price as Rs 2 Crore.

Source: Times of India
John Sarkar| TNN | Updated: Nov 17, 2016, 01.29 PM IST

New Delhi: Forget long ATM queues. If you want to lay your hands on a crisp Rs 2,000 note, go online.

On Wednesday, new Rs 2,000 notes were being sold on eBay India at a hefty premium, starting from Rs 3,500 (paid by credit card or online transfer). But if you are superstitious, you need to cough up much more for notes whose serial numbers have religious connotations. For instance, a series of five Rs 2,000 notes starting with the number 786, were being offered by a seller on the marketplace for Rs 1.51 lakh.

"In India, people are ready to pay a premium for goods that sport numbers with religious significance such as vehicle number plates, mobile numbers or even residential addresses," said a New Delhi-based astrologer, who did not want to be named.

This was also used as a lucky number in blockbuster Bollywood movie Deewar, where superstar Amitabh Bachchan's badge number as a dock worker was 786.

When TOI reached out to eBay India to enquire about the listing of the currency, a spokesperson for the US-based e-commerce company said as an independent online marketplace and an intermediary, it does not exercise control on items listed by independent sellers on the site.
"There have been no successful transaction for Rs 2,000 currency notes," the spokesperson said. However, after the TOI inquiry, he said the company was disabling access to the notified listings to avoid any sort of legal hassle.

In July last year, many online marketplaces including eBay India were issued notices by MP high court for alleged online trading of Indian currency carrying 'unique' numbers. In November, private individuals were selling the latest series of Re 1 notes on e-commerce sites at nearly 100 times their value.In fact, after PM Narendra Modi announced the demonetization scheme last Tuesday, people with smaller currencies such as Rs 20 and Rs 50 notes also scrambled online to sell them at a profit. While Rs 20 notes were being sold on eBay for around Rs 900 for three notes, Rs 50 notes bearing the number '786' were being offered at Rs 5,000 apiece.

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