S$3 billion money-laundering case: Online auctions open for more than 600 luxury bags and jewellery pieces

The first items from Singapore’s S$3 billion money-laundering case have gone under the online hammer. Hotlotz listed 624 pieces on Monday, including 338 handbags and accessories and 286 jewellery items.

The lots are divided between two auctions, “Luxury Handbags & Accessories” and “Fine Jewellery, Part One”. They are estimated to bring in between S$2.9 million and S$3.9 million. The auctions close on Sept. 20 and Sept. 27 respectively.

Among the most prominent items are a limited-edition Louis Vuitton x Yayoi Kusama Pumpkin Bag in monogram leather and a 15.02-carat fancy yellow diamond ring. The ring has the highest opening bid, at S$180,000. A set of four miniature Chanel bags released in 2020 to commemorate former creative director Karl Lagerfeld’s legacy is also on offer. Bidding for that “Success Story” collection, which includes a quilted trunk, starts at S$10,000.

Other high opening bids include two Hermès Kelly diamond bracelets and diamond rings from Cartier and Graff, ranging from S$30,000 to S$80,000. Hotlotz charges a 20% buyer’s premium on top of the final bid, including Singapore’s goods and services tax, although foreign buyers can have the tax waived.

The auctions form part of a series of 15 online sales running from September this year to May 2027. Hotlotz accepts neither commission nor telephone bids and does not hold traditional in-room auctions. If a bid arrives during the final five minutes for a lot, its closing time extends by another five minutes. The process continues until five full minutes pass without another bid.