Wilsons Auctions will offer luxury watches that authorities seized as part of a multimillion-pound fraud investigation.
His Majesty’s Revenue and Customs (HMRC) in the UK carried out an investigation into suspected payroll fraud, where it found more than GBP 7 million ($9.2 million) had been spent on luxury watches over a three-year period, the auction house said Thursday. The department’s findings included five timepieces worth around GBP 1 million ($1.3 million), which were seized from an individual as they attempted to leave the UK. The assets were later forfeited and will now appear at the sale.
Wilsons Auctions is selling the timepieces, seized as proceeds of crime, on behalf of UK government bodies and law enforcement agencies, offering all lots without reserve. It will sell every watch regardless of the final hammer price, giving collectors an opportunity to acquire pieces they might have difficulty finding on the open market, the company added.
The watches include a Philippe Dufour Simplicity, which will lead the auction. Launched in 2000, it sports an 18-karat rose gold case with a white dial and leather straps. Another lot is a Patek Philippe Perpetual Calendar Split Seconds Chronograph watch, featuring a perpetual calendar that tracks leap years and varying month lengths without correction until the next century, and a split-seconds chronograph capable of timing two events at once.
The auction house will also offer two Audemars Piguet Royal Oak watches. One is a self-winding Flying Tourbillion in stainless steel with a black and blue dial and the other features a blue dial and an integrated bracelet. The final piece is an Omega Speedmaster Racing watch with a stainless-steel case and black dial.
The Unreserved Government Auction will run online for 24 hours, from October 29 at 11 a.m. to October 30 at 11 a.m. (GMT).
Image: The Philippe Dufour Simplicity watch leading the sale. (Wilsons Auctions)
