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Jewels net $4.5M – Focus on health, education

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Jewels sold at auction at Sotheby’s raised $4.56 million to fight poverty and illiteracy among Muslims in Asia and Africa, Reuters reported Nov. 15.

All 19 pieces of jewelry from the collection of the late Begum Agan Khan, the fourth wife of the late Aga Khan III, spiritual leader of the Shia Ismaili Muslims, were sold at the auction.

Proceeds from the sale will benefit the Aga Khan Foundation, which backs health and education projects in countries that include India, Pakistan and Kenya.

Begum died in July, leaving her estate — including her jewels — to be sold to increase the endowment of the foundation, which made grants of nearly $90 million in 1999.

For full story, go to AltaVista.

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