Diamonds of Kazakhstani Oligarch Auctioned for 1.8 Million Tenge

The Returned Assets Management Company (CMRA) has reported the sale of four pieces of jewelry confiscated from a Kazakhstani oligarch, Orda.kz reports.

According to CMRA, the items were auctioned off for a total of 1.8 million tenge. While the agency did not disclose further details, the full information is available on the E-Qazyna electronic trading platform.

The most expensive lot sold on August 19 was a pair of gold earrings from an unknown brand, featuring ten one-carat diamonds. They went under the hammer for 735,000 tenge — significantly below their initial estimated value of over one million tenge, making the purchase a bargain for the buyer.

Two additional pieces fetched 406,000 tenge each. The first was a 750-carat white gold ring, its centerpiece a stylized Latin letter S adorned with 31 diamonds.

Originally, it had been listed for 580,000 tenge. The second was a yellow gold ring set with five diamonds, designed to complement the diamond-studded earrings. Both pieces had previously failed to attract buyers in earlier auctions.

All four pieces belonged to the same collection, judging by appraisal documents, and the sale process stretched out for more than six months.

At the end of July, CMRA also auctioned off several other items confiscated from an unnamed Kazakhstani oligarch. Those lots included bracelets, rings with emeralds, pearls, and diamonds, as well as a chain with a pendant.

Original Author: Nikita Drobny