HMRC-seized watches worth over £3 million to go under auction hammer
Luxury watches worth more than £3 million, seized from a fraudster attempting to flee the UK, will go to auction later this month. The five timepieces, confiscated by HMRC, include a Philippe Dufour Simplicity valued at over £1 million and represent part of a multi-million-pound criminal haul. Wilsons Auctions, the firm used by UK police to sell recovered assets, will conduct the sale on 29 October with no reserve price.
The fraudster used a bogus payroll firm to steal cash from employees' wages, spending more than £7 million on luxury watches over three years before attempting to flee the UK. The seized collection includes a rare Patek Philippe Perpetual Calendar Split Seconds Chronograph expected to fetch up to £450,000, and two Audemars Piguet Royal Oaks and an Omega Speedmaster Racing worth nearly £300,000 together. The 24-hour online auction will be held on 29 October with no reserve price on any lot.
- Fraudster's £3m watch collection going to auction after seizure at UK border
- One Philippe Dufour Simplicity alone valued at over £1 million
- Watches were bought with £7m stolen from employees via fake payroll firm
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A fraudster used a bogus payroll company to steal money directly from employees' wages over three years, spending the stolen millions on luxury watches. When attempting to flee the country with the watches, the criminal was apprehended and authorities confiscated the collection. This type of fraud is particularly serious because it victimises everyday workers who rely on their wages.
The confiscated watches are now being sold at public auction by HMRC, the UK's tax and customs authority, to recover funds that can be returned to victims of the fraud. The collection includes exceptionally rare timepieces such as a Philippe Dufour Simplicity, one of the world's most expensive watches, alongside prestigious brands like Patek Philippe and Audemars Piguet. Authorities use asset recovery like this both to compensate victims and to demonstrate visible consequences that deter future fraud.
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Originally published by Daily Mail as “Five watches worth £3MILLION: Incredible collection seized from fraudster who tried to flee the UK”.