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Auction of rare banknotes to be held via WhatsApp.

AN auction of rare currency notes, including one from 1940s Iraq, will be held on Saturday through popular mobile messaging application WhatsApp.

It is being organised by Bahrain-based Arados Auction House and will feature a total of 26 banknotes, predominantly from Iraq, which have been selected by studying market demand and priced according to current values of currency.

The oldest currency to go on auction is from the Kingdom of Iraq era circa 1942, featuring a photo of the last king of Iraq, King Faisal II. It also has serial numbers that are the same when read from either side, which is known as radar.

"We started small and it took a lot of dedication and determination to achieve what we have today," said Arados founder and owner Mohammed Alaradi.

"We truly believe Bahrain can be a huge investment hub in the auctions industry and it will generate good income for the country as an alternative minor investment."

The upcoming auction, one of several held every year by the auction house, was set to be one of the most prestigious on the calendar, being held over WhatsApp to a closed group of specialist numismatists.

The reasoning behind conducting the auction over the mobile application, according to Mr Alaradi, is to allow bidders from across the globe, as well as within the Gulf, to take part without being physically present at the auction.

To enter the auction, call Mr Alaradi on 39410810.

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Publication:Gulf Daily News (Manama, Bahrain)
Date:Aug 24, 2017
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