S$3b money laundering case: Forfeited luxury goods, properties to go on auction from September

Catalogues for subsequent auctions will be released closer to each sale, and will include Hermès handbags and watches from Patek Philippe, Richard Mille and Rolex, Hotlotz said.

The auctions are open to participants globally, though bidders must register and pass compulsory identity verification checks before taking part.

Approved bidders can book a viewing slot at Le Freeport, a high-security storage facility in Changi where the items are kept. Viewing is strictly by appointment, and walk-ins are not allowed. 

Hotlotz said appointment slots are limited and assigned to registered participants on a first-come, first-served basis.

Hotlotz founder and chief executive Matt Elton said the case’s global profile would draw added attention to the auctions, but that he was keeping sensationalism at bay.

His aim is to “sell everything in the fairest, most transparent way and offer it to the widest market”.

“At the end of the day, I try to avoid the sensationalism. My job is to sell these items. My job is to understand what they are, to put them into the market at the correct price, and to be very objective about how we talk about them,” he said.

“I’m trying not to be knocked off my perch by the kind of stories around it.”

Mr Elton said transparency was key, including making sure bidders know where the items came from. 

Starting prices are benchmarked against other auctions rather than original retail or secondary-market prices, he added.