Part of Oligarch’s Jewelry Sold for 5 Million Tenge

A portion of the jewelry seized from one of Kazakhstan’s oligarchs as part of the state’s asset recovery efforts has been sold at auction, Orda.kz reports.

Returned Assets Management Company (RAMC) announced that five lots were auctioned on the E-Qazyna platform on April 23. The items — pieces that had previously failed to attract buyers — were put up for sale again.

Among the sold items were a Cartier Love bracelet and ring set, which went for their starting price of 2.6 million tenge. An anonymous buyer purchased them without a bidding war.

Other items sold at starting prices included emerald earrings (612,000 tenge), a white gold ring with aquamarine (1.6 million tenge), and a gold ring with a diamond (223,900 tenge).

The only piece that saw competitive bidding was a pair of diamond earrings with pearls, which started at 272,000 tenge and eventually sold for 329,100 tenge.

In total, the sale brought in 5.4 million tenge for the state.

RAMC noted that this represents just a small fraction of the recovered jewelry inventory. Higher-value items, including pieces from luxury brands like FOPE, Van Cleef & Arpels, De Beers, and Franck Muller, are still awaiting a new owner. 

Original Author: Nikita Drobny