With October now firmly in the rear-view mirror, people across Cork will be planning out their Christmas shops in the coming weeks, with many hoping to get in ahead of the crowds that will be swarming shops next month. There are plenty of handy gifts you can pick up in an afternoon on Leeside, but if you’re looking for something particularly special this Christmas, the Criminal Assets Bureau (CAB) has you covered.
The state agency is putting a wide range of high-end watches and other items up for auction this Christmas, with rare timepieces worth anywhere from €5,000 to €40,000 up for grabs. Each of these items was seized as part of a Garda operation carried out over the last few years, so you could grab a gift – or something for yourself – with an interesting backstory behind it.
The two featured items in this year’s Christmas auction are a Rolex Submariner Date worth approximately €31,000 and a Rolex Day-Date 40 worth upwards of €45,000 according to various watch marketplaces. While these are certainly among the most high-ticket items, there are several other watches valued in the four-figure range, alongside seized goods such as a 9ct diamond bracelet, a gold pendant and a mini gold bar.
Every year, Gardai 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 purchased with the proceeds of criminal activity.
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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 must wait 7 years before items can be sold at auction; however, a new bill approved by Cabinet last summer reduced the waiting period to 2 years.
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. Gardaí have even promoted this latest auction on social media as a good opportunity for those looking for something special this festive season.
The auction is being overseen by Wilsons Auctions, and those looking to take part will need to put down a refundable deposit of €1,000. All lots are subject to a 20% buyer’s premium plus VAT at 23%. The auction will kick off at lunchtime on Friday, November 27 and will run until lunchtime on Tuesday, December 1.
You can find several of the items up for grabs shown below, and you can register to bid here if you fancy throwing your hat in the ring.