Luxury Items Up for Grabs: Singapore Auctions Off Confiscated High-End Goods, Including Pateks and Birkins
Singapore's Largest Money Laundering Case: Seized Luxury Goods to be Sold Off by Deloitte
In a significant move to recover funds from Singapore's biggest money laundering case, over 460 luxury items are set to be auctioned or sold directly through Deloitte. The professional services firm was officially appointed by the police in August 2025 to manage the liquidation and sale of these assets.
The seized luxury goods include high-end items such as handbags by Louis Vuitton, Hermès Birkin, Kelly Alligator, Dior, and Chanel, as well as watches from brands like Patek Philippe, Richard Mille, Rolex, Audemars Piguet, and Van Cleef & Arpels. Among the standout items is a Patek Philippe World Time Chronograph, estimated to be worth $93,000, and a Richard Mille RM 67, valued at approximately $311,000. The haul also includes at least 13 cases of high jewelry, one gold plate, and one luxury belt.
Perhaps most notably, the seized items also include 58 gold bars, each weighing between 999g and 1kg and valued at around S$139,000 each. These gold bars, which are valued at approximately S$3 billion in total, are some of the most valuable items in the seizure.
The assets were confiscated from an illicit Southeast Asia-based gambling ring uncovered in August 2023, with 27 foreigners arrested, 10 of whom were convicted and deported. The items were seized in connection with a scandal involving 10 Chinese nationals who were charged with laundering approximately $2.3 billion earned from criminal activities abroad.
The sale process includes secure storage and maintenance of the luxury items by Deloitte, as well as marketing and selling through appropriate channels. These channels include public auctions conducted by established auction houses, which may keep exact item details confidential, and direct sales, especially for assets like gold bars, where Deloitte may deal directly with commodity brokers or jewelers, bypassing auctions for efficiency.
The authorities began selling the assets at the end of last year, with a total of 54 properties, 33 vehicles, and 11 country club memberships being liquidated in December 2024. This week, the Singapore police handed over 466 high-end items and 58 gold bars to Deloitte for management and sale. The proceeds from the sale of the seized luxury goods will be paid into the consolidated fund.
The police will receive ideas for the sale of the seized luxury goods "in due course." This sale is a significant step towards recovering funds from Singapore's biggest laundering case and setting a precedent for the handling of similar cases in the future.
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