Value of watches in 1MDB-linked condo seizures over RM80 million? Police say not finished counting

Put down your leftovers, and check the date and time on your Casio, you may want to remember this: China Press is reporting that the watches found in last month’s spectacular seizures at Pavilion Residences in relation to on-going 1MDB investigations have been assessed and valued.

The Chinese-language daily is reporting that a total of 433 watches were seized, and their total value is in the range of RM80 million (US$20 million). Police say they haven’t even finished counting, and won’t be commenting on the end sum until all pieces are accounted for.

Clocking in as the most expensive time-piece of the lot is a Rolex valued at RM3.5 million (US$877,000), with the second most pricey keeper of time being a Cecil Purnell, valued at RM1.2 million (US$400,000). Other brands seized included luxury makers Patek Philippe and Richard Mille.

China Press has cited an unnamed, insider source, reporting that 37 bags were seized from the luxury condos, each containing watched, gold bars and expensive jewelry. While most have been assessed, some of the rarer pieces await expert appraisal.

Editor’s Note: Is it just us or would the whole appraisal and cataloguing process not make the best television ever? Like Antiques Road Show with a touch of kleptocracy.

We digress: Experts took five days to sift through the items, starting May 30 and finishing last week.

Cash from the same seizure totaled no less than RM114 million (US$28.5 million) in cold, hard cash of varying currencies.

Seventy-two pieces of luggage and 284 boxes containing luxury handbags were taken by officers, having been collected from 12 different locations all connected to former prime minister Najib Razak.

Ok – you can go back to re-heating your leftovers now.

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