The Criminal Assets Bureau (CAB) is auctioning off one hundred luxury items this month
Some of the items on offer at the CAB Black Friday Auction(Image: Wilsons Auctions)
Every year, Gardaà and the Criminal Assets Bureau (CAB) seize hundreds of items in searches across the State – this includes everything from luxury watches and designer clothing to high-end properties suspected of being purchased with the proceeds of criminal activity.
Once a Garda investigation is conducted and the case is heard by the courts, any items that were proven to have been purchased with illegally obtained funds are handed over to the care of a state receiver. Typically, the State needs to wait seven years before items can be sold at auction; however, a new bill approved by Cabinet over the summer reduced the waiting period to two years.
An Audemars Piguet Royal Oak, which typically sells for over €20,000(Image: Wilsons Auctions)
The aim is to generate a profit from the auctioned items and reinvest the proceeds in communities, while ensuring that the State has the power to crack down on organised crime groups by disrupting their cash flow. Now for Black Friday, the CAB is auctioning off exactly one hundred items seized in recent years.
The lots cover everything from luxury watches and sunglasses to designer children’s clothes. The items retail anywhere from a few hundred euros to tens of thousands, with items from well-known brands such as Christian Louboutin, Gucci, Louis Vuitton, Moschino, Chanel, Moncler, Canada Goose, Hugo Boss, Burberry, Versace, Cartier, Bvlgari, Rolex & Audemars Piquet
A Gucci GG Embroidered Cotton Dress(Image: Wilsons Auctions)
Among the most eye-catching items is an Audemars Piguet Royal Oak watch in 18ct rose gold that retails for upwards of €20,000 and a two-tone Rolex Submariner with a comparable five-figure valuation. There are also several luxury children’s items set to go under the hammer, including a Gucci dress for 18-month-olds that sells for well over €600.
All of these items will be available for public bid through Wilson’s Auctions, and interested bidders can sign up on the website here. Those keen to bid on some of the luxury items on the docket should be aware that a bidding deposit of €1,000 is required to participate. All purchases are subject to a 20% buyer’s premium plus VAT on the commission, unless stated otherwise.
A pair of Louis Vuitton Gloria Flat Loafers valued at over €700(Image: Wilsons Auctions)
There is a minimum buyer’s premium of €50 plus VAT per lot, unless stated otherwise, and the €1,000 deposit can be refunded upon request. The bidding starts at 1pm on Friday, November 28 and will continue over the weekend with the final lot closing at 1pm on Monday, December 1. So, whether you’re looking to pick up a very pricey Christmas gift or just want to browse, you can find the full listings here.