Rare Louis Vuitton pumpkin bag from Singapore’s S$3B money laundering case fetches S$87,000 after 30-minute bidding
The rare Louis Vuitton pumpkin bag was initially estimated by auctioneer Hotlotz to fetch between S$12,000 and S$16,000.
Singapore's auction of seized luxury items from a money laundering case has raised US$862,000 from its first auction, with a rare Louis Vuitton x Yayoi Kusama pumpkin bag selling for S$87,000. The auction, conducted by Hotlotz, included 337 handbags and accessories, with several other lots such as Chrome Hearts jewelry and diamond necklaces also seeing strong bidding interest.
The total proceeds from the auctions are estimated to be between S$2.9 million and S$3.9 million. The auction's success stands in contrast to the lack of interest in luxury real estate tied to the same illicit network. Luxury items such as Chanel bags and Chrome Hearts jewelry were among the most popular, with some items selling for significantly more than their estimated resale prices.
Brief written by urgent.news from South China Morning Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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