Hotlotz to auction luxury goods from Singapore money laundering case

Singapore auction house Hotlotz has been appointed to manage the sale of luxury goods forfeited in connection with a S$3 billion money laundering case. The process, overseen by Deloitte, involves the progressive sale of more than 1,000 luxury items and over 80 properties.

The first phase of sales begins on September 7 with two online auctions. The initial wave includes 338 handbags and accessories, featuring brands such as Chanel, Louis Vuitton, Christian Dior, and Gucci, alongside 286 pieces of fine jewellery from makers like Bulgari, Cartier, and Hermès. These first two auctions have a combined pre-sale estimate ranging from S$2.9 million to S$3.9 million.

Hotlotz will conduct a total of 15 timed online auctions over a nine-month period. Future sales scheduled for later in the year will include luxury watches from brands such as Patek Philippe, Richard Mille, and Rolex, as well as Hermès handbags, fine wine, and spirits.