Over 117 Million Tenge Raised from Auction of Luxury Watches and Coins

In total, 14 exclusive wristwatches and collectible coins labeled “Bata,” “Betashar,” and “Suyindir” were sold at auction for 117.68 million tenge, Orda.kz reports, citing CMRA.

As previously reported, the company responsible for managing returned assets had put 25 luxury watches up for auction, collectively valued at 352 million tenge. As is customary, CMRA did not disclose the identity of the former owner.

Among the items auctioned today, the least expensive was a chronometer from the Eco Swiss brand, featuring a steel case and a calfskin strap. Initially listed at just 55,000 tenge, the price jumped to 447,000 tenge after competitive bidding from nine participants.

The most expensive piece — the Ulysse Nardin Classic 789-80, initially valued at 150.1 million tenge — failed to sell. According to the auction description, minor scratches and a worn strap prompted a price reduction.

The watch is expected to reappear at a future auction.

The auction was conducted online via the E-Qazyna platform. Despite the items being used, prices exceeded initial estimates — final bids were, on average, 14.7% higher than starting prices.

As a result of the auction, 14 wristwatches were sold for a total of 117.6 million tenge, with a combined starting price of 102.5 million tenge, the official report states.

All proceeds will be transferred to a state fund supporting social initiatives in education, healthcare, infrastructure, and aid for those in need.

Original Author: Raushan Korzhumbekova