Third auction of former CIB chief’s confiscated assets nets only 4 million baht

[webfact]

Third auction of former CIB chief’s confiscated assets nets only four million baht

The Anti-Money Laundering Office held the third day of the second public auction of the confiscated assets of the former commissioner of the Central Investigation Bureau (CIB) today but attracted less bidders.

Only four million baht worth of items, mostly tea porcelains were auctioned off.

AMLO is inviting the public to participate in the last day of the auctions Thursday.

The second round of auctions have been held from the March 23-26 at the Second Infantry Battalion of the First Royal Guards located on Chaengwattana road.

All together 250 items went under the hammer and of these 238 items were auctioned off.

Today’s round of auctions generated 4,300,000 baht bringing the three day total to 18 million baht.

The items that attracted most interest was a porcelain tea-set adorned with 8 stallions and seven rare porcelain teapots.

The tea-set had a starting price of 10,000 but finally went for 150,000 baht while the seven teapots were priced at 28,000 baht but ended up going for 340,000 baht.

For the final day of auctions tomorrow, household items and home decorative articles will be put under the hammer and will include the unsold 109 year old oil painting by a Dutch master.

It is expected that tomorrow’s bidding should be active as the remaining items, with the exemption of the antique painting, are comparatively inexpensive and should generate high public interest.

(Photo : ThaiPBS file)

Source: http://englishnews.thaipbs.or.th/third-auction-of-former-cib-chiefs-confiscated-assets-nets-only-four-million-baht

-- Thai PBS 2015-03-26

[NongKhaiKid]

Maybe all the good pieces have already been ' sold '.

[ezzra]

These goods and chattels are pittance compare to the real loot, that undoubtedly is held in gold

diamonds and cash somewhere very safe and very far from the preying eyes of the authorities,

and good luck in getting to it any time soon...

[chainarong]

A 109 year old Dutch master up for auction , this should fetch millions of dollars, then again it is probably a reprint of a Dutch Master, if it is the former , the former CIB head was on a very good income , indeed.

[smutcakes]

So the auctioning off, of billions of baht of assets has so far netted about 30 million baht......

[JOC]

So the auctioning off, of billions of baht of assets has so far netted about 30 million baht......

Don't worry mate!!

The wealth have been redistributed according to Thai tradition:

1000 for me, 1000 to you (and 1 to the state coffers)

[Strangebrew]

Guess all the good stuff was already stolen. Or switched for fakes.

[Lupatria]

They should have forced him to negotiate the sale of the stuff and enjoy a huge profit.

[colinneil]

Window dressing.

Most of the best items already been distributed.

These auctions are only to appease the public. Make it look like something is being done.

[ToddinChonburi]

18 million baht is a pretty good take for the government.

[Acharn]

A 109 year old Dutch master up for auction , this should fetch millions of dollars, then again it is probably a reprint of a Dutch Master, if it is the former , the former CIB head was on a very good income , indeed.

Almost certainly a print. Most of the "antiques" turned out to be modern copies or (possibly) forgeries. The people from the Fine Arts Department apparently didn't know as much about antiquities as they thought.

[zaZa9]

Maybe all the good pieces have already been ' sold '.

You mean , 'stoled' ?? 55555

[Chris Lawrence]

'About one billion baht in cash, valuables and assets totalling 10 billion baht have been found and seized during the recent searches of six houses owned by Pol Lt Gen Pongpat.'

The result appears disappointing. The oil painting is expected to reach 20 million baht?

Will they lessen his sentence if they don't make the 10 billion baht at auction?

[jamesjohnsonthird]

These goods and chattels are pittance compare to the real loot, that undoubtedly is held in gold

diamonds and cash somewhere very safe and very far from the preying eyes of the authorities,

and good luck in getting to it any time soon...

The Blue Diamond might have been in the hidden stash?

It probably made it's way thru his hands at one point I bet.