Saturday 22 October 2016

Criminals' luxury watches sold off by CAB for €25k

Hublot Big Bang Unico Full Magic Gold which is like the model sold by CAB
Hublot Big Bang Unico Full Magic Gold which is like the model sold by CAB

Bargain hunters have snapped up three luxury watches taken from Irish criminals by the gardai.

Buyers nabbed the sought-after Rolex and Hublot watches at auction for around half their original purchase price.

The watches - taken from the criminals as they were deemed to have been bought using the proceeds of crime - raised more than €25,000.

The watch that got the most interest was a Hublot Big Bang 18-carat Rose Gold Chronograph automatic.

It is a titanium-and-ceramic watch with a rubber strap and 18-carat gold clasp. It costs €35,000 new, but was auctioned off for €14,500.

The Hublot is popular among rappers, professional footballers and other sports stars.

A Rolex Daytona Bi-Metal Oyster Chronograph model in yellow gold and stainless steel with a silver dial sold for €7,000 at the auction in the North 12 days ago.

The same model sells for nearly €16,000.

Another Rolex - a Bi-Metal Oyster Perpetual Datejust with 18-carat yellow gold and stainless steel and diamond hour markers - was sold for €4,500. It typically sells for €9,000.

The watches sold by the Criminal Assets Bureau were offloaded under orders from the High Court under the Proceeds of Crime Act.

Last month's auction at Wilsons contained other items seized by police in England, including jewellery, gold ingots and expensive cars and boats.

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