Murray and Co Plans Centenary After 99 Years of Chennai Auctions

The historic Chennai auction house Murray & Co is drawing up plans to celebrate its upcoming centenary, marking over 99 years of conducting regular weekly auctions from its bases in Madras, including its current premises at Gemini Towers near the Gemini Flyover. Founded on February 10, 1927, the iconic institution has remained a household name in the city, maintaining its traditional Sunday auctions almost uninterrupted for nearly a century.

The business was originally established by brothers A. Vedantam and S. Rajam. Over its 99-year history, the auction house has rarely paused its weekly hammer strikes, with the only exceptions being a brief period during a relocation and the disruptions caused by the COVID-19 pandemic.

Current partner Hemant Srivatsa, who joined the business in 1992, noted that the enterprise has shifted its physical address over the decades. Its original auction room was situated behind the iconic LIC building on Mount Road, where it operated until 2012. Following a brief period of operations in Mandaveli, Murray & Co moved to its current location near the Gemini Flyover.

The business model has also evolved over the decades. Murray & Co began primarily with real estate auctions before expanding into retail auctions of household goods and furniture, followed by industrial auctions. Srivatsa observed that the categories within the retail space have changed significantly over time, with the company selling far more electronic items today than in the early 1990s.

While Murray & Co has transitioned its industrial auctions entirely online and is currently developing an online portal for retail auctions, the firm intends to maintain its physical auction tradition. Srivatsa stated that physical auctions have a charm of their own that technology cannot replace.

As the milestone approaches, Srivatsa confirmed that centenary plans are currently in the works, with concrete ideas expected to be finalized over the next few months to celebrate the institution's long-standing connection with the city's residents.