Dubai is set to host an exciting public auction on October 21, featuring a stunning array of gold, diamond jewelry, and luxury watches. This event, organized by Dubai Customs, presents a unique opportunity for jewelry enthusiasts and collectors to acquire valuable items that were previously seized and are now available for bidding.
Key Takeaways
- Auction Date: October 21, 2024
- Location: Dubai Customs Headquarters, Mina Rashid, Customs Training Centre, 3rd Floor
- Viewing Period: October 7 to October 17, 2024, at Dubai Airports, Terminal 3
- Types of Items: Gold and silver, diamond jewelry, precious stones, luxury watches
- Bidding Requirements: 10% non-refundable down payment, VAT, and excise tax applicable
Auction Details
The auction will take place at the Dubai Customs Headquarters, located at Mina Rashid. Bidders can expect a diverse selection of items, including:
- Gold and Silver: Various forms of gold and silver, including bars and coins.
- Jewelry: A wide range of gold and diamond jewelry pieces, perfect for personal use or as gifts.
- Watches: Luxury watches from renowned brands, appealing to collectors and enthusiasts alike.
- Precious Stones: An assortment of precious and semi-precious stones available for bidding.
Viewing Schedule
Interested bidders can examine the auction items starting from October 7, 2024. The viewing will be held at:
- Location: Dubai Airports, Terminal 3 (Arrivals) and Dubai Customs Museum (Near Exit 4)
- Timing:
- Monday to Thursday: 9 AM to 1 PM
- Friday: 9 AM to 12 PM
This viewing period lasts for ten days, allowing potential bidders ample time to inspect the items before the auction.
Bidding Process
To participate in the auction, bidders must adhere to the following requirements:
- A non-refundable down payment of 10% of the item’s value must be paid in cash at the time of bidding.
- Successful bidders are required to collect their purchased items within seven days after the auction concludes.
- Any items not collected within this timeframe will be forfeited and resold at the next auction.
- Additionally, successful bidders will be responsible for paying applicable VAT and excise tax on their purchases.
Conclusion
This auction presents a fantastic opportunity for those looking to acquire exquisite jewelry and luxury items at competitive prices. With a variety of goods available and a straightforward bidding process, Dubai’s auction on October 21 is not to be missed for anyone interested in fine jewelry and collectibles.