Hermes bracelet star attraction in auction of items from Singapore money laundering case

The second online auction of jewellery seized in Singapore's S$3 billion money laundering case concluded yesterday, with bids reaching approximately S$5 million. Conducted by Hotlotz, the auction featured 286 pieces of fine jewellery linked to assets forfeited in the case. Diamonds dominated the sale, with winning bids ranging from S$750 to S$360,000.

The highest bid was placed on a diamond-studded Hermes bracelet, "Kelly," featuring 263 diamonds weighing a total of 30.31 carats, which sold for S$360,000. The second-highest bid went to a 15.02-carat fancy yellow diamond ring, fetching S$230,000. Among the popular lots was a Dior jewellery set comprising a diamond necklace, bangle, earrings, and ring, which drew 72 bids before selling for S$125,000.

The jewellery auction followed an earlier sale of luxury handbags and accessories that concluded on September 20, attracting more than S$1.1 million in bids. These auctions are part of a broader disposal exercise involving over 1,000 luxury items forfeited in connection with the money laundering scandal, overseen by Deloitte. Proceeds from the sales will be channeled into Singapore's government Consolidated Fund.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.