Ever wondered what happens to all the glittery goods seized after a police raid? Us too. As it happens, officials hold onto stolen items before auctioning them off at dramatically reduced prices.
Right now, the Australian Federal Police are holding an auction of jewels, jewellery and other luxury items obtained through crime. The auction, which commenced on May 12, runs through until 8.00pm on May 17, when the highest bidders will take home their shiny new prizes, and at prices up to 80% off the piece’s typical value.
First State Auctions is hosting the online frenzy. Around 250 authenticated pieces that had been purchased with money earned through criminal activity are up for grabs, with luxury brands like Bvlgari, Cartier, Emporio Armani, Rolex, Tiffany, and Breitling in the mix.
One of the most expensive pieces up for auction is the Bvlgari Lvcea ladies watch, which typically has a price tag of $42,000.
There are a number of Cartier pieces, including the Trinity ring with diamonds, which is expected to sell for around $6,000 but has a retail value of up to $48,800.
And there are a handful of men’s watches, including Rolex’s, with an 18-carat gold Day-Date watch with an estimated sale price of $15,500 proving particularly popular.
Statement pieces aside, there are a number of engagement rings, and solitaire diamonds ready and waiting to be turned into a ring for that special someone, including one giant emerald-cut 2.01-carat diamond expected to go for around $24,500.
All proceeds from the auction will go to the Commonwealth government. Get shopping, or perhaps window shopping, on the First State Auctions site now.