Hong Kong's South China Morning Post (SCMP) reported that a Hong Kong tycoon in his 70s who is on the run after serving a prison sentence in Macau for bribery and money laundering is auctioning off 77 luxury brand handbags totaling 2.6 billion won.
According to the media, 71-year-old Joseph Lau, a Hong Kong conglomerate, from tomorrow (30th) to next month 9th, including 6 Hermes Birkin bags with diamonds, and 77 expensive luxury handbags purchased over the past 20 years, will be auctioned off at Sotheby's online auction. hit
One of his Birkin bags is worth 2 million Hong Kong dollars, about 310 million won in our money, and the value of 77 handbags is estimated at 16.3 million Hong Kong dollars, about 2.6 billion won in our money.
SCMP described it as "the largest single-owner handbag auction in Asia".
Sotheby's also introduced, "In this collection, you can meet all the limited editions created and shaped in the handbag history of the past 20 years."
He added that a portion of the proceeds from sales will be donated to charity.
Lau, who runs real estate developer Huaqiu Enterprises Group, was sentenced to five years in prison for bribery and money laundering in a trial in absentia in Macau in 2014.
However, he is avoiding his brother by not entering Macau.
According to the Forbes Rich List on the 24th, he ranked 6th out of the 50 richest people in Hong Kong with a net worth of $13.6 billion last year.
Lau is known to be aggressive in the auction after losing huge money on stock investments in Chinese real estate firm Hengda and others that are in default.
Last year, he sold his famous wine collection through Christie's auction, earning 64 million Hong Kong dollars and about 10.1 billion won in our money, making a five-fold profit.
He also sold 151 million Hong Kong dollars' worth of Chinese imperial porcelain at Sotheby's, equivalent to 23.8 billion won.
(Photo = Yonhap News)