First Wave of Seized Assets Goes Under the Hammer: 338 Handbags and 286 Jewellery Pieces Estimated at Up to S$3.9 Million
A 15.02-carat yellow diamond and a Louis Vuitton x Yayoi Kusama Pumpkin Bag are among the first rare assets from Singapore’s S$3 billion money laundering case that will be offered to the public on 7 September. They form part of a far larger disposal exercise involving more than 80 properties and over 1,000 luxury items forfeited in connection with the case, which saw 10 foreigners convicted of money laundering and other offences.
Handbags and Accessories
Fine Jewellery Pieces
Combined Estimate
Release Phases
The First Wave
According to Deloitte Singapore, which was appointed by the Singapore Police Force in July 2025 to manage and realise the forfeited non-cash assets, the assets will be released in phases from this September to mid-2027.
The first wave will comprise two online auctions conducted by Singapore auction house Hotlotz, with 338 handbags and accessories, and 286 pieces of fine jewellery. Together, the two sales carry pre-auction estimates of S$2.9 million to S$3.9 million, Hotlotz founder and chief executive officer Matthew Elton said.
The marquee lot is a 15.02-carat fancy yellow diamond ring, estimated at S$200,000 to S$300,000. Close behind is a rare Hermes Kelly bracelet in white gold, set with 263 diamonds weighing a combined 30.31 carats, and valued at S$150,000 to S$200,000. A Bulgari Serpenti necklace, its articulated serpent head picked out with diamonds and emerald eyes, carries an estimate of S$60,000 to S$80,000.
Handbags and Watches
The handbag sale boasts several eye-catching pieces from Chanel, Louis Vuitton and Christian Dior. They include a limited-edition Louis Vuitton x Yayoi Kusama Pumpkin Bag, estimated at S$12,000 to S$16,000; a customised Louis Vuitton jewellery trunk painted with floral and Eiffel Tower motifs; and a Mini Lady Dior in matte white Himalaya Niloticus crocodile.
The collection is not, however, confined to trophy pieces. Some Chanel costume jewellery and accessories in the first sale carry estimates of just a few hundred dollars. “I think people will be quite surprised that actually some pieces are quite accessible,” says Elton.
The September auctions are only the opening act. Hotlotz plans 15 sales through May 2027, with later instalments devoted to Hermes handbags and watches from makers including Patek Philippe, Richard Mille and Rolex. Among the rare and highly coveted timepieces are a Richard Mille RM 07-02 Automatic Pink Sapphire, a Patek Philippe Sky Moon Tourbillon in platinum, and a Patek Philippe Nautilus Perpetual Calendar in white gold. Their estimates have not been revealed.
How the Bidding Works
Catalogues for the first two sales will be published at 10am on 7 September, when bidding begins. The handbag auction closes on 20 September, while the first jewellery auction ends on 27 September.
Bidding will take place entirely online and will be open internationally. Participants must register for each auction and undergo identity verification. Approved bidders will also be able to book limited appointments to inspect the goods at Le Freeport in Singapore.
Hotlotz says its estimates are benchmarked against comparable international auction results rather than original retail prices. Condition, scarcity and completeness, meaning whether a piece still has its box, receipt, dust bag or other accompanying material, can all affect value.
The Property Component
Designer goods aside, more than 80 real estate properties are also due to be offered progressively between September 2026 and mid-2027.
SRI, Edmund Tie and Company and Knight Frank have been appointed to conduct the property auctions, while selected properties will be marketed by List International Realty through an expression-of-interest process.
Which properties appear in each phase, and when, has yet to be disclosed. Details on auction schedules, viewing arrangements and bidding procedures will be released later by the respective agencies.
Deloitte says the number and composition of assets in each phase are still being finalised and could change as authentication and other preparatory work is completed. The firm has cautioned members of the public to participate only through auctions and sales processes conducted by, or officially linked to, the appointed agencies.
Frequently Asked Questions
What is in the first auction wave?
Two online auctions conducted by Hotlotz, comprising 338 handbags and accessories and 286 pieces of fine jewellery, carrying combined pre-auction estimates of S$2.9 million to S$3.9 million. The marquee lot is a 15.02-carat fancy yellow diamond ring estimated at S$200,000 to S$300,000.
When do the auctions open and close?
Catalogues are published at 10am on 7 September, when bidding begins. The handbag auction closes on 20 September and the first jewellery auction ends on 27 September. Bidding is entirely online and open internationally, with mandatory registration and identity verification.
Can bidders inspect the items?
Approved bidders can book limited appointments to inspect the goods at Le Freeport in Singapore.
What happens to the properties?
More than 80 real estate properties are due to be offered progressively between September 2026 and mid-2027. SRI, Edmund Tie and Company and Knight Frank will conduct the property auctions, while selected properties will be marketed by List International Realty through an expression-of-interest process. Which properties appear in each phase has yet to be disclosed.
Tracking the property side of these auctions?
The composition of each phase is still being finalised, so schedules will come from the agencies separately. If you are watching a specific development, I can help you assess it and time your approach.