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 authorities netted US$862,000 from the first auction of seized luxury items in a money laundering case, according to auction records. The rare Louis Vuitton x Yayoi Kusama pumpkin bag, which was the highlight of the first tranche of 337 handbags and accessories, was sold for S$87,000 after a fierce 30-minute bidding war.
Other popular items included Chrome Hearts necklaces, bracelets, and a ring, which fetched several times their estimated prices. Despite the auction's success, luxury real estate linked to the same illicit network failed to find buyers during a separate sale on September 17. The auction, conducted by Hotlotz, concluded on Sunday night and marked the end of a series of 15 online auctions planned until May 2027.
The auction house's "buyer's premium" of 20% and Singapore's goods and services tax contributed to the total proceeds of more than S$1.1 million.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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