SINGAPORE, Sept 12 — More than 600 luxury items forfeited in Singapore’s largest money laundering case are going under the hammer, including a 15-carat yellow diamond ring and a pink enamel clutch shaped like a serpent’s head.

CNA reported that auction house Hotlotz will conduct 15 online auctions from this month through May 2027, following the seizure and forfeiture of more than 1,000 items and 80 properties linked to the case.

The case came to light after island-wide raids in August 2023 uncovered millions of dollars linked to an illicit gambling operation based in South-east Asia.

The luxury goods are now available for online bidding, with viewing sessions beginning next Monday and running until Saturday, although appointments are required and walk-ins are not permitted.

“The response has been overwhelmingly good,” Hotlotz co-founder and director of auctions Christopher Lanigan O’Keeffe said during a media preview on Thursday.

He said viewing slots had been filling quickly, with almost all of the roughly 75 appointments available each day already booked.

The first two auctions, covering jewellery, handbags and accessories, have combined pre-sale estimates of between S$2.9 million (RM9.3 million) and S$3.9 million.

The first auction, which closes at 4pm on September 20, includes items from Chanel, Louis Vuitton and Christian Dior, while the second, ending at the same time on September 27, features jewellery by Graff, Bulgari and Van Cleef & Arpels.

The seized goods were transferred to Hotlotz about four months ago after the auction house was appointed to conduct the sales, and are being stored at Le Freeport, a high-security facility in Changi.

Hotlotz said the items had previously been held by auditing firm Deloitte and the Singapore Police Force, while specialists assessed each piece for authenticity, condition and factors affecting its value.

As of Thursday evening, the highest handbag bid was S$39,000 for a limited-edition Louis Vuitton Yayoi Kusama leather pumpkin bag, against an estimated value of S$12,000 to S$16,000, while a 15.02-carat yellow diamond ring had attracted a top bid of S$190,000 against an estimate of S$200,000 to S$300,000.

Among the other high-value pieces is a 30-carat Hermes Kelly diamond bracelet containing 263 diamonds, which is estimated at S$150,000 to S$200,000 and had received a top bid of S$80,000 as of Thursday.

Lanigan O’Keeffe said it was difficult to predict whether the high-profile nature of the case would affect demand, noting that the value buyers place on an item’s provenance varies.

The 10 offenders involved in the case, all originally from China, have been convicted and deported after serving their sentences.

“With this particular case, we weren’t sure what the response would be, given the nature of the case. But we’ve seen a great response so far,” he said.