Luxury timepieces once owned by oligarchs auctioned off, fetching a staggering sum of 117 million tenge
High-End Watches from Luxury Brands Sell for Hundreds of Thousands at Kazakhstan Auction
On July 31, 2025, a government auction in Kazakhstan saw the sale of high-end watches from prestigious brands, including Patek Philippe. The auction was part of a broader event that also included confiscated jewelry and collectible items.
The auction generated substantial funds, with one auction raising a total of 198.5 million tenge (approximately US$365,885), according to available sources[1]. While the exact selling prices for individual watches were not detailed, the auction on July 24, 2025, saw 18 sold jewelry lots generate 16.9 million tenge (US$31,196), surpassing their starting price estimates[1].
One of the most sought-after lots was a Patek Philippe Nautilus, initially valued at 31 million tenge. After a fierce bidding war among three participants, the watch was sold for 17.7 million tenge. Another Patek Philippe watch, the World Time Complicated Chronograph, was also hotly contested, with three bidders vying for it. The final sale price was 17.7 million tenge.
Patek Philippe Grand Complications Perpetual Calendar watches were also up for grabs, with a starting price of 11.4 million tenge. After the bidding, they were sold for 12.6 million tenge.
Not all lots found buyers immediately. For instance, the Ulysse Nardin Classic 789-80 watches, valued at 150 million tenge, did not sell and may be put up for auction again. The cheapest lot, Eco Swis watches, saw a significant increase in price from its starting 55,000 tenge to a final sale price of 447,000 tenge, after nine bidders placed their bids.
The source of the seized high-end accessories remains undisclosed. The auction included a total of 16 lots, with the details of other items not provided in the available sources. It is unclear if any other lots from the initial auction will be sold again.
[1] Source: Auction House Website, Accessed August 1, 2025.
In the auction, luxury fashion-and-beauty items like high-end watches from Patek Philippe were available, as was a broad selection of jewelry. Furthermore, the auction also featured home-and-garden items, although the details of these objects were not disclosed.
