If you have ever wondered what happens to the luxury goods forfeited in Singapore’s S$3 billion money laundering case, we now have an answer.
More than 1,000 luxury items and over 80 properties connected to the case will progressively be sold from September 2026 to mid-2027, according to Deloitte, which was appointed by the Singapore Police Force in July 2025 to manage and realise the forfeited non-cash assets.
The first two luxury-goods auctions open for online bidding at 10am on Monday, 7 September.
More Than 600 Bags and Jewellery Pieces in the First Two Auctions
Singapore auction house Hotlotz will handle the luxury goods through a series of 15 online auctions running from September 2026 to May 2027.
The first wave alone comprises 338 handbags and accessories and 286 pieces of fine jewellery, according to The Business Times. Together, they have pre-sale estimates of between S$2.9 million and S$3.9 million.
The handbag auction runs from 7 to 20 September and features brands such as Chanel, Louis Vuitton, Christian Dior and Gucci.
Among the more unusual pieces is a limited-edition Louis Vuitton collaboration with Japanese artist Yayoi Kusama shaped like a pumpkin. The Business Times reported that it has an estimated value of S$12,000 to S$16,000.
The fine jewellery auction runs from 7 to 27 September. Its headline item is a 15.02-carat fancy yellow diamond ring, which has a pre-sale estimate of S$200,000 to S$300,000.
Other pieces include jewellery from Bulgari, Cartier, Hermès, Van Cleef & Arpels, Tiffany & Co and Graff.
Hermès Bags and Patek Philippe Watches Are Coming Later
The September auctions are only the first batch.
Hotlotz’s published schedule shows another five sales beginning on 9 November, covering more fine jewellery, fine wine and champagne, Hermès handbags, luxury watches and fine spirits.
Future watch auctions are expected to include pieces from Patek Philippe, Richard Mille and Rolex, while later handbag sales will include Hermès.
Bidding is entirely online and is open to participants internationally. Bidders have to register and complete identity verification before taking part.
Those who want to inspect the September items in person can apply for limited viewing appointments at Le Freeport in Changi after completing registration and identity checks. Walk-ins are not allowed for these sales.
And remember that the winning bid is not the final bill. Hotlotz’s pages for both September auctions state that a 20% buyer’s premium, inclusive of GST, will be added to the closing bid. So a S$1,000 winning bid would result in a S$1,200 invoice before any applicable shipping or card charges.
More Than 80 Properties Will Also Be Sold
The real estate is being handled separately.
More than 80 properties will progressively be offered between September 2026 and mid-2027. SRI, Edmund Tie & Company and Knight Frank have been appointed to conduct property auctions, while selected properties will be marketed by List International Realty through an expression-of-interest process.
Details such as which properties will be sold in each phase and their individual auction schedules have not yet been announced. Deloitte said the number and mix of assets could also change while authentication and other preparation work continues.
Deloitte has advised members of the public to participate only through sales conducted by, or officially linked to, the appointed agencies.
The S$3 Billion Refers to Assets Seized or Frozen
The case became public after large-scale police raids in August 2023.
The S$3 billion figure refers to the value of assets seized or subjected to prohibition of disposal orders during the investigation, rather than a finding that exactly S$3 billion had been laundered. Those assets included money in bank accounts, cash, cryptocurrency, properties, vehicles and luxury goods.
Ten people arrested in the operation were eventually convicted. Separately, the authorities pursued other suspects who were outside Singapore.
As of December 2024, the Ministry of Home Affairs said about S$2.79 billion in assets linked to the case had been surrendered to the state, including around S$1.25 billion in non-cash assets such as properties, vehicles and luxury items.
Proceeds from liquidating the forfeited assets are ultimately paid into Singapore’s Consolidated Fund.
