Singapore to auction off seized luxury goods and properties from S$3B money laundering case

Summary

• More than 1,000 luxury items and 80 properties forfeited in Singapore’s S$3 billion money laundering case will be sold from Sept 7.

• Hotlotz will conduct 15 online auctions for jewellery, watches, handbags and accessories between September 2026 and May 2027.

• Three real estate firms will auction properties in phases, while selected units will be offered through an expression-of-interest process.

SINGAPORE: Singapore will begin selling more than 1,000 luxury items and 80 properties forfeited in the S$3 billion money laundering case from Sept 7.

The sales will take place in stages through mid-2027. Luxury goods will be sold through online auctions, while properties will be handled by several real estate firms.

The details were announced by Deloitte on Aug 29. The audit firm has been managing the sale of the forfeited non-cash assets since being appointed by the Singapore Police Force in July 2025.

Luxury goods will go under the online hammer

Auction house Hotlotz will run 15 online auctions from September 2026 to May 2027. The first two catalogues will be released at 10 am on Sept 7, when bidding opens.

The first sale closes on Sept 20 and features more than 300 handbags and accessories. Brands include Chanel, Louis Vuitton, and Christian Dior.

The second auction closes on Sept 27 and features more than 250 jewellery pieces. Names include Graff, Bulgari and Van Cleef & Arpels.

Together, the first two sales are estimated to be worth S$2.9 million to S$3.9 million. Later auctions will include Hermès handbags and watches from Patek Philippe, Richard Mille and Rolex.

Hotlotz founder and chief executive Matt Elton said the firm would focus on fair pricing and open sales. He also said buyers should know the background of the items.

Starting prices will be based on other auction sales, rather than original retail prices or secondary-market prices.

Buyers face checks before they can bid

The auctions are open to buyers around the world, but registration and identity checks are compulsory.

Approved bidders can also arrange to view the items at Le Freeport in Changi, where the goods are stored under high security. Viewing is available by appointment only, with limited slots given on a first-come, first-served basis.

The approach gives potential buyers access to valuable goods while keeping the process under control because the sales involve assets tied to a major criminal case rather than ordinary auction consignments.

The case began with islandwide raids in August 2023. Authorities uncovered millions of dollars linked to an illicit gambling ring based in Southeast Asia.

All 10 offenders were convicted and later deported after serving their sentences. They were originally from China, although some held other citizenships.

Property sales will take place in stages

SRI, Edmund Tie & Company and Knight Frank will handle the property auctions. Some properties will instead be offered through an expression-of-interest process managed by List International Realty.

Deloitte said the number and mix of assets in each phase are still being finalised. Changes may happen while authentication and other preparations continue.

The sales are expected to continue from September 2026 through mid-2027, making the disposal a lengthy process rather than a single large auction. Channel NewsAsia (CNA) reported (Aug 29) that the first sales will begin Sept 7.

There is something fitting about the final chapter taking place through ordinary market rules. Once the courts have dealt with the criminal side, the practical task is to convert forfeited assets into cash through a fair and open process.

Buyers can focus on what an item or property is worth, while authorities focus on ensuring the sale is properly handled.