Kazakh Oligarch’s Jewelry Sold at a Two-Million-Tenge Discount

Jewelry seized from Kazakh oligarchs as part of the state asset recovery process continues to find new owners. On October 8, a gold necklace that had remained unsold for more than six months was finally auctioned off, Orda.kz reports.

According to data from an online auction platform, a gold necklace with diamonds and pearls by the Italian brand FOPE was sold at its starting price of 4,690,000 tenge. The new owner had placed a security deposit of 703,500 tenge.

This necklace was among the items confiscated from an unidentified Kazakh oligarch during the asset recovery campaign. The piece features six large pearls and 192 small diamonds. Notably, all earlier attempts to sell it had failed.

Initially valued at 6.7 million tenge, the necklace was later relisted in April for 5,695,000 tenge, but again found no buyers. It has now been sold at a discount of nearly two million tenge.

Original Author: Nikita Drobny