Russel Exchange: The Oldest functioning auction house

The Russell Exchange on Park Street, Victor Brothers and Russel Exchange, have some really interesting vintage items in store for you. The price range varies from as low as Rs 50 to as high as Rs 2 lakh. The auction house keeps 20 per cent of sold items as floor fees.

Kolkata:From old bedpans, clothes, curtains and drapes, toys, utensils to expensive timepieces, wrist watches, books, audio and video cassettes, ceramic and glassware – everything is sold here to eager buyers of varied hues.

Welcome to the country's oldest functioning auction house, Kolkata's The Russel Exchange. The auction tables and storehouses of this establishment literally breathes history. Antiques and rare books sit tightly by ornate chandeliers, providing a rare peek into the colonial era as well as the pompous past of the zamindars dotting the land of Bengal province and adjoining areas.

“It was in 1940, that our grandfather Abdul Samat threw opened the gates of The Russel Exchange and the auction house began its journey. He was initially a dealer and used to go to different places to collect antiques and sell them to interested buyers. Later he thought of opening a permanent outlet and that was house Russel Exchange came into existence,” recounts Anwar and Arshad Salim, the two grandsons of Abdul. They are the ones who now carry on the legacy and manage the country's oldest auction house.

“We have heard stories of lavish auctions held here on our tables. Whenever any senior official was transferred back to England during the Raj era, the person used to sell off most of the household stuff, including collectable items. Sudden want of money also forced many others to visit auction houses. Later on after Independence, we used to have a steady flow of antiques and collectables from officials working in the embassies and consulates. No doubt the flow now is not like earlier, but we still get interesting items to deal with,” said Anwar.

There used to be a beeline of Kolkata's who's who outside The Russel during the every Sunday, the auction day. Be it screen diva Suchitra Sen with her actor daughter Moon Moon, Javed Akhtar, Shabana Azami, Mrinal Sen, Uttam Kumar or Satyajit Ray.

“In fact, Russel Exchange featured in many of Ray's novels and films,” said Arshad adding, “Though the auction business had taken a beating in the past, of late it has picked up a bit with people, mostly the younger generation, taking a liking to nostalgia and antiques, including furniture.”

The Russel has been following a strict regime since long – Thursdays are reserved for apparel and fabrics auction and Sundays are for the rest. The price range varies from as low as Rs 50 to as high as Rs 2 lakh. The auction house keeps 20 per cent of sold items as floor fees.

Auction houses were a big thing in Kolkata till the early 90s. Establishments like Mackenzie Lall and Company, Steiner and Company, Dalhousie Exchange, Chowringhee Sales Bureau Pvt Ltd, Victor Brothers and D Albert and Company dotted the auction house scenario of the city. Today, apart from The Russel, one two other houses have survived. The Suman Exchange and The Modern Exchange are much younger to The Russel and much less in terms of sheen and glory.

Though business has picked up in the recent past, yet both Anwar and Amjad are taking no chances.

“We don't want to down shutters on this heritage property and business, which has been an integral part and identity of the City of Joy. We have diversified a little, renting out furniture and fixtures to film producers. We also have plans to open a separate retail section as there is demand. But, we will not close the shop,” said an optimistic Anwar.

The Russel Exchange survives and along with it survives a slice of history which has made Kolkata one of the most diverse cities of India.

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