A seized five-bedroom detached Spanish villa with an estimated value of £225,000.
Designer shoes, Rolex watches, and a Ferrari are among an estimated £2.3 million (US$2.8 million) worth of luxury goods seized from criminals that will be offered to bidders in a worldwide auction next week.
Wilsons Auctions in Wales is holding the auction Aug. 14 at 7:30 p.m. local time at its Newport auction house, with online bidding open to the public.
The ill-gotten gains include high-end jewelry and the Ferrari 360 Modena that were recovered by authorities, Wilsons said in a statement. The Ferrari 360 Modena, for example, was linked to a drug-trafficking offense in the European country of Malta and confiscated by the government there.
Two watches, a rose gold Rolex Daytona with an estimated retail value of £27,450, and a rare Wimbledon Dial Rolex Datejust estimated to be worth £8,900, are among goods seized from a London-based drug dealer. Also seized and placed in the auction are dozens of pairs of designer shoes by Christian Louboutin, Louis Vuitton, Prada, Balenciaga, Burberry, and other brands that are worth up to £1,200 per pair, Wilsons said in a statement.
All goods will be sold in an unreserved auction, meaning there are no minimum bids or reserve prices set on the items.
The auction also includes eight real estate properties that were entered on behalf of government agencies, a Wilsons spokesman said in an email.
The Ferrari 360 Modena was linked to a drug-trafficking offense in Malta.
A five-bedroom detached Spanish villa with an estimated value of £225,000 is located in a development near the town of Campos del Rio and the city of Murcia. The development includes a pool, a Jacuzzi, air conditioning, and a garage. A three-bedroom home in Ilford, a London suburb, features underfloor heating, a brick outbuilding and off-road parking. It’s estimated to be worth £550,000.
Wilsons has returned £100 million (US$120.7 million) worth of goods back into the public purse in recent years, Government Sales Coordinator Michael Streight said in a statement.
Police auctions aren’t uncommon in the U.K. and other countries. The Mexican government has a newly created agency dedicated to selling off assets stolen by organized crime groups and directing the proceeds to poor communities or local causes, like a youth drug rehabilitation program.
The Institute to Return Stolen Goods to the People recently auctioned a luxury watch, among other bling, that was seized from a former Mexican police officer-turned-drug cartel leader Jorge Eduardo Costilla Sánchez, also known as “El Coss,” The Daily Mail reported on Monday. The Swiss-made Romain Jerome watch is one of a limited quantity of timepieces that were created with scrapped metals from the Titanic; it sold for nearly US$9,000.