An auction of confiscated timepieces will take place in Singapore. The online sale, titled Fine Watches, Part One, hosted by the Singaporean auction house Hotlotz from November 9 to 29, will feature watches from brands including Patek Philippe, Vacheron Constantin, and Rolex.
These items, with a total value of 3 billion Singapore dollars ($2.3 billion), were seized during a high-profile money laundering investigation in Singapore.
Notable lots include a Patek Philippe perpetual calendar chronograph in rose gold, a platinum Patek Philippe perpetual calendar with a green dial, and a white gold Patek Philippe Nautilus perpetual calendar. The preliminary catalogue also features a white gold Vacheron Constantin Métiers d’Art Ajourées.
These watches are among more than 1,000 luxury items that came into the possession of the Singaporean government following the investigation. The probe uncovered an international criminal network that used proceeds from illegal gambling and other illicit activities to acquire high-value assets.
In August 2023, 10 foreign nationals (nine men and one woman) were arrested during police raids in Singapore. They were convicted of various offenses, including money laundering, sentenced to prison terms ranging from 13 to 17 months, and subsequently deported. Another 17 suspects fled Singapore while the investigation was underway.
In July 2025, the police engaged the Singapore branch of Deloitte to manage and liquidate the remaining non-cash assets. These include luxury watches, diamond jewellery, handbags, gold bars, vehicles, and real estate. To conduct the auctions for these luxury items, Deloitte selected the auction house Hotlotz.
The sale of the watches is part of a planned series of 15 online auctions, scheduled to take place between September 2026 and May 2027. Previous auctions featured 338 handbags and accessories, as well as 286 pieces of jewellery - notably, a ring set with a rare 15.02-carat yellow diamond, a Bulgari necklace from the Serpenti collection, and a diamond-encrusted Hermès Kelly bracelet.
Proceeds from the sale of the confiscated assets will be deposited into Singapore’s Consolidated Fund - a government account used to accumulate budget revenue and finance public expenditure.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
