Ireland’s CAB auctions seized luxury items

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The Irish Criminal Assets Bureau (CAB) has successfully conducted an online auction, generating over €400,000 for the national Exchequer through the sale of luxury items seized from criminals. The auction, managed by Wilsons Auctions, featured an impressive array of high-end goods, including top-tier watches from renowned brands like Rolex, Breitling, Cartier, and Tag Heuer. Other items on offer included gold bars, fine jewellery, and designer bags.

The auction comprised 100 lots, with each item fully authenticated to ensure transparency and legitimacy. Among the standout sales, a Rolex Day-Date 40, an automatic timepiece with roman numerals and gold hands, fetched the top price of €30,100. Additionally, a Rolex Daytona automatic in 18-carat rose gold was sold for €26,200.

The combined estimated value of all items exceeded €500,000, making this auction a significant success. The online bidding process began on Friday and concluded on Monday at 2:30 pm. All proceeds from the auction are slated to be returned to the national Exchequer, as the items were seized by the CAB due to being deemed proceeds of crime.

Ricky Wilson, the director of Wilsons Auctions, expressed delight at managing the sale for the Criminal Assets Bureau, highlighting the company’s reputation for handling seized goods. The funds raised from this auction will be directly contributed to the state, emphasising the commitment to redirecting proceeds from criminal activities back into public resources.

This successful auction not only serves as a financial boost for the national Exchequer but also underscores the ongoing efforts by law enforcement agencies to combat organised crime and illicit financial activities, particularly by targeting the assets derived from such criminal enterprises.