Kazakhstan Auction of Seized Massimov Luxuries Ends with Mixed Results
Kazakhstan's Asset Recovery and Management Agency (ARMA) has put up for auction 42 luxury items, worth over $1.1 million, seized from a residence linked to Karim Massimov, the former head of the National Security Committee (KNB). The items, including high-end watches, jewelry, and rare accessories, were previously owned by Massimov.
The auction, held online, saw mixed results. Earlier, 10 luxury items were successfully sold. However, many expensive pieces remained unsold, including platinum Ulysse Nardin Classic 789-80 watches priced at 150 million tenge ($318,000). Other unsold items included diamond earrings from De Beers, a Van Cleef & Arpels diamond necklace, a white-gold Bovet Fleurier Grand Complications pocket watch, and a Harry Winston Ocean Tourbillon wristwatch.
Among the 42 lots, only one item, a samurai sword, was sold for 542,719 tenge ($1,150). The dealers who failed to sell the unsold luxury items, such as watches from Ulysse Nardin and Harry Winston, and jewelry from De Beers, Van Cleef & Arpels, and Yana Jewellery, were not specified. Four special lots, including collector’s coins, a saber, and a belt with national ornate designs, also failed to find buyers.
The auction of seized luxury items linked to Karim Massimov has concluded with mixed results. While some items found buyers, many high-value pieces, including expensive watches and jewelry, remained unsold. ARMA will now consider the next steps for these unsold items.
