[UK] Government to auction super rare watches seized in HMRC payroll fraud investigation

In the UK, a collection of super rare and highly sought-after watches is heading to an Unreserved Government Auction after being seized by HMRC during a major investigation into multi-million-pound payroll fraud, Country Life reports.

The five watches are believed to be worth around £1 million. However, the post-auction total could be considerably higher.

The collection comprises a Philippe Dufour Simplicity, a Patek Philippe Perpetual Calendar Split-Seconds Chronograph, two Audemars Piguet Royal Oaks and an Omega Speedmaster Racing.

The Philippe Dufour Simplicity is reportedly regarded as one of the finest achievements in independent watchmaking and among the most coveted watches on the collector market. In 2021, a 2004 model sold for CHF756,000 (about £685,000) against a CHF250,000–500,000 estimate. 

Another of the watches available to bid on is a Flying Tourbillon ‘Premier’ model, from a limited edition of just 10 pieces. 

As the watches are being offered in an Unreserved Government Auction, all lots will sell regardless of the final hammer price.

Source: Country Life

In the UK, a collection of super rare and highly sought-after watches is heading to an Unreserved Government Auction after being seized by HMRC during a major investigation into multi-million-pound payroll fraud, Country Life reports.

The five watches are believed to be worth around £1 million. However, the post-auction total could be considerably higher.

The collection comprises a Philippe Dufour Simplicity, a Patek Philippe Perpetual Calendar Split-Seconds Chronograph, two Audemars Piguet Royal Oaks and an Omega Speedmaster Racing.

The Philippe Dufour Simplicity is reportedly regarded as one of the finest achievements in independent watchmaking and among the most coveted watches on the collector market. In 2021, a 2004 model sold for CHF756,000 (about £685,000) against a CHF250,000–500,000 estimate. 

Another of the watches available to bid on is a Flying Tourbillon ‘Premier’ model, from a limited edition of just 10 pieces. 

As the watches are being offered in an Unreserved Government Auction, all lots will sell regardless of the final hammer price.

Source: Country Life