Seized Jewellery Haul up for $1 at Auction
What is estimated to be millions of dollars’ worth of high-end luxury jewellery featuring over 1300 pieces have been seized and will now be auctioned completely unreserved in a week-long auction event with all bids starting from just $1.
Featuring high-end watches, earrings, rings, necklaces, pendants, bracelets and more all from luxury brands, we have already received thousands of bids Australia wide.
“Although we can’t disclose where the items have been seized from, we can say that there are some big brand pieces and this is an opportunity for people to grab themselves a bargain on some high-end items as they are all completely unreserved,” said Mr. Lee Hames, Chief Operations Officer for Lloyds Auctions.
Some of the brands include Rolex, Tiffany and Co, Channel, Bvlgari and many more popular brands.
“Due to increased demand and steady increase in value, we have seen auction prices of all high-end jewellery including brands such as sky-rocket in value over recent years,” continued Mr. Hames.
“One of the most iconic and recognisable wristwatches of all time, a stainless Rolex Daytona, sold back in our February auction for over $50,000, with the original retail price for this watch being just over $13,000, showcasing the increase in demand for many high-end watches,” said Mr. Hames.
Knight Frank reported in their 2021 Wealth report that watches were the 3rd most popular passion investments and over the last 10 years the average investment has grown by 89%.
There are over 1300 items going under the hammer in the 5-day event.
The first auction closes Saturday 21st May from 7:00pm. You can view video footage of some of the pieces here.
The Knight Frank Wealth report can be found here