Assets seized by British and Maltese police including highly coveted Rolex watches will be auctioned next week with no reserve prices.
Top end Swiss watches will be sold alongside designer footwear from Christian Louboutin, Louis Vuitton, Prada, Balenciaga, Burberry that would normally retail at more than $1000 a pair.
Wilsons Auctions will hold the sale, which features ill-gotten gains from a London-based drug dealer and a drug-trafficking gang with links to island of Malta.
A Ferrari 360 Modena was seized by the Maltese Government and placed in the auction.
Wilsons Auctions, based in the UK, was founded over 80 years ago. Its Asset Recovery Department works with 17 countries worldwide realizing assets from cryptocurrency to supercars, luxury watches and designer goods for government agencies, law enforcement agencies and insolvency practitioners.
Its next auction, which takes place on August 14, is selling goods with a total estimated value of £2.3 million. None of the lots, which include homes in Spain (below) and London, have reserve prices.
Highlights among the fine watches include a rose gold Rolex Daytona with a retail value of $35,000 (pictured top), and a rare Wimbledon Dial Rolex Datejust with a retail value of $10,000 (below).
“Our next Unreserved Government Auction has some eye-catching items that should grab the attention of those hoping to invest in designer shoes, Rolex watches or even make the dream of owning a Ferrari a reality,” says Wilsons Auctions’ government sales coordinator, Michael Streight.
“With the auction available to both physical and online bidders it is open to a worldwide audience and gives customers the chance to purchase quality goods for an affordable price. Wilsons Auctions plays an important role in realizing any type of asset on behalf of our government clients which has seen us responsible in returning £100 million back into the public purse in recent years,” he concluded.