$2.8 million worth of luxury goods seized from drug traffickers up for auction
Ever wonder what police do with all the stolen goods, or piles of illegal money they find? Well this time round, it’s all going under the hammer at an auction worth almost US $3 million.
Following a bust of a London-based drug dealer and drug-trafficking gang, the police are teaming up with an auction house to sell off all the ill-gotten goods.
The gang is believed to have operated in London but also had links to the island of Malta. British and Maltese police value the assets at around US $2.8 million.
One of the Spanish homes up for grabs
The auction is run by Wilsons Auctions, based in the UK, it 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.
The goods include a Ferrari 360 Modena in black (pictured above), which often go for around US $90,000, a rose gold Rolex Daytona with a retail value of near US $33,000 and another Rolex, the rare Wimbledon Dial Datejust which can go for near US $12,000.
None of the items in the lot have a reserve price, even the Spanish and London homes and villas on offer.
“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.
The auction is set to take place on August 14 and you can bid online here.