S$3b money laundering case: 15-carat diamond, Yayoi Kusama, Chanel items up for auction
Ultra-rare watches, handbags and jewellery will be sold through a months-long disposal exercise
Singapore's S$3 billion money laundering case has resulted in the forfeiture of over 80 properties and more than 1,000 luxury items, according to Deloitte Singapore. The assets will be disposed of in phases from September 2025 to mid-2027. The first wave of the disposal exercise comprises 338 handbags and accessories, and 286 pieces of fine jewellery, with pre-auction estimates ranging from S$2.9 million to S$3.9 million.
The highlight of the first wave is a 15.02-carat yellow diamond ring, valued between S$200,000 and S$300,000. Other notable items include a Hermes Kelly bracelet and a Bulgari Serpenti necklace. The auction will be conducted online and open internationally, requiring participants to register and undergo identity verification. Additional sales are planned to continue until May 2027, with a focus on Hermes handbags and timepieces from renowned brands such as Richard Mille, Patek Philippe, and Rolex.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
