Auctions on items confiscated by government agencies

[zuoom]

SINGAPORE auction houses have sold off thousands of luxury items seized from criminals this year, from diamonds and sports cars to bird's nest worth $3,000 a kg.

The items were confiscated by government agencies following investigations into criminal activities such as credit card fraud and cross-border car smuggling.

While there is no official figure for the overall value of the haul, estimates by The Straits Times suggest it likely stretches into the millions of dollars.

The police and Land Transport Authority (LTA) have together put up about 25,000 items for auction this year. That number does not include the thousands of items confiscated by Customs officers, including liquor, cigarettes and watches.

The goods are sold off at semi-regular auctions that are usually open to the public.

The events attract an array of bargain hunters, said executive director Ms Mary Sai of Knight Frank, who has been conducting auctions for the Singapore Police Force for the past four years.

Shoppers include the general public - including people looking for deals on electronics - car dealers and second-hand goods merchants. Even karang guni men turn up, said Ms Sai.

'If you have the patience to sit through an entire day of bidding, you can get some very cheap deals or unique finds,' she said.

New cellphones can go for as little as $50 apiece, while at a recent auction, Hugo Boss accessories, Chanel perfume and a Mont Blanc pen went for a mere $650.

'Waste not, want not,' said one satisfied auction shopper, Ms Andrea Tan, 38.

'If the owners can't be found, auctioning is the most fair way of ensuring these items don't go to waste.'

The housewife, who bought a cellphone at an auction earlier this year, said she is not bothered by the fact that the items were once the loot of criminals. 'As long as they are new...' she said.

The Singapore Police Force is the country's biggest supplier of auction goods, putting about 20,000 items on the block both this year and last. The figures included lost items turned over by the public and old police equipment.

According to Knight Frank, some of the items were seized during commercial crime and petty theft investigations.

Occasionally, rare and valuable items turn up.

A haul of diamond jewellery worth more than $1million once made it onto the block, recalled Ms Sai.

The police say items end up at the auction house only after efforts to trace the rightful owners have failed.

People not implicated in a case, such as those whose homes have been burgled, have three months to stake their claims.

This year, the Land Transport Authority (LTA) has so far sold 5,000 cars that were mostly recovered from smugglers. Most were sold to dealers and bound for export, and attracted bids of only a few hundred to a few thousand dollars.

According to the Singapore Customs' official auction house, Dovebid, the Customs department's confiscated goods are also usually seized from smugglers.

Dovebid officials have noticed an increase in the number of people caught trying to avoid paying the goods and services tax (GST).

'I think it is because the GST was raised to 7per cent a while ago, that is why more people try to evade tax,' said Dovebid's Lee Boon Chuay, who has been conducting auctions for Singapore Customs for the past six years.

There are some items, though, which are strictly forbidden at auctions, including cigarettes and illegal VCDs. They are either destroyed or taken out of circulation.


http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_312188.html

via : http://forums.hardwarezone.com.sg/showthread.php?p=34245444#post34245444

[Vorsprung durch Technik]

must go visit these auctions once to see if can reap bargains

[zuoom]

was at one of these auctions before.

unless you know what you are looking for, you will be hard press to find things of value.

[Vorsprung durch Technik]

one thing the authority cannot confiscate is your mp3s

here's something to smooth your soul.

<a href="http://www.sosolala.com/swf/player.swf?mp3url=/filetest/&#26434;&#38182;&#21512;&#36753;/&#19968;&#20010;&#20154;&#21435;&#26053;&#34892;/VATravelogue03" target="_blank" class="new_win">http://www.sosolala.com/swf/player.swf?mp3url=/filetest/&#26434;&#38182;&#21512;&#36753;/&#19968;&#20010;&#20154;&#21435;&#26053;&#34892;/VATravelogue03</a>

[Silver Bullet]

must go visit these auctions once to see if can reap bargains

Next time wana go, jio me along...I wana go check it out..

[Vorsprung durch Technik]

sure. let's check whether got any auctions listed.

[Silver Bullet]

sure. let's check whether got any auctions listed.

Ok ok..keep me posted..hehe..

["Small Dreams <^_^=> "]

i want to go also ./.....

[Spyder]

Ya. Count me in also. Read about in in the papers and was wondering where and when the auctions are held.

[criszt]

sama.

I remember going to a jewellry and watch one sometime back.
Wah loads and loads of stuff.

[Silver Bullet]

Anyone knows where we can get details for tis auctions thingy??..

[Vorsprung durch Technik]

usually such thingy will be posted on the newspapers.. so watch out for them...

[Cobra]

There was a couple over the weekend. (was on the papers)

One was from Storhub .. for unclaimed stuff stored ... from furnitures to TVs etc.

The other one at some hotel and i think its still on going is for Jewellery ...

Depends on what you are looking for ... there's also garage sales etc ... there's a boom in 2nd hand watches lately too ..

[zuoom]

this thread reminds me of a those book chair that my photographer friend acquired some months back.

this chair.

Hi all, I'm looking to clear this classic French chair to make space. Condition is like new n customize fabric n cushions. Drop me a line to show ur interest. Thx for browsing. $900(negotiable)

via : http://www.facebook.com/profile.php?id=530578068

there was those seal used by the authority at the bottom of the chair. figure it might be worth something.  

[zuoom]

auction item on sale by Thomas.
*check above post.