Singapore auctions 624 items in money laundering case
Online auctions have begun in Singapore for 624 luxury items from a money laundering case involving S$3 billion. According to Channel NewsAsia, the Hotlotz auction house website listed 338 handbags and accessories, as well as 286 pieces of jewellery.
The first two auctions
The lots are being sold through two auctions — Luxury Handbags & Accessories and Fine Jewellery, Part One. Their combined value is estimated at S$2.9 million to S$3.9 million. Bidding for handbags and accessories is scheduled to end on September 20, while bidding for jewellery is set to end on September 27.
Among the lots are a limited-edition Louis Vuitton x Yayoi Kusama Pumpkin Bag made of monogram leather and a ring with a 15.02-carat yellow diamond. The opening bid for the ring is S$180,000, the highest starting price among all lots.
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Participation and sale terms
Hotlotz charges a buyer's premium of 20% on top of the final bid. It includes Singapore's goods and services tax, which may not apply to foreign buyers. If a new bid is placed within the final five minutes before a lot closes, bidding time for that lot is extended by another five minutes. This continues until no new bids are placed for five minutes.
These sales are the first two of 15 planned online auctions, which will run from September 2026 to May 2027. Participation is open to people worldwide after registration and mandatory identity verification. Approved participants may inspect the items only by appointment at Le Freeport, a secure duty-free storage facility in Changi.
Police transferred the assets to audit firm Deloitte for sale in August 2025. Singapore's Minister for Home Affairs K. Shanmugam previously told parliament that proceeds from the sales would be credited to the government's consolidated fund.
