A collection of 202 luxury watches, described as “extremely rare,” will go under the hammer at Casino 2000 in Mondorf-les-Bains on Saturday, 29 March. The watches, with starting prices ranging from €600 to €80,000, were confiscated by Luxembourg courts from real estate magnate Flavio Becca in 2022.
The auction, organised by the Asset Management Office (BGA), has drawn significant attention due to the uniqueness of the collection. Adrien Denoyelle, an auctioneer and expert from Lux-Auction, described the event as “quite exceptional” and “unique in the world,” adding that he does not expect to encounter such a collection in his career again.
The BGA, based in Kirchberg, manages assets seized or confiscated by the courts, including money, jewellery, paintings, cars, and real estate. The watches being auctioned are part of a larger collection of 842 luxury timepieces, valued at over €18 million, which Becca was accused of purchasing using company funds.
Becca, a Luxembourg businessman at the centre of a trial for embezzlement and money laundering, has contested the court’s decision. As of May 2024, he had not accepted the judgement from the Court of Cassation and announced plans to pursue further legal action against the State, alleging violations of European law.
An initial auction of 150 luxury watches, held by Lux-Auction in early June 2024, proved to be a resounding success. The event attracted over 300 in-person attendees and 1,500 online registrants, setting high expectations for the upcoming sale.
The second auction, scheduled for 29 March, features a catalogue that went live on Wednesday. Highlights include a Bell & Ross watch with a starting price of €600, a range of Rolex models (including a “Milgauss” priced at €40,000), and a Vacheron Constantin timepiece with a reserve price of €80,000.
Prospective bidders can participate in person, online, or by phone, but prior registration is required via the auction house’s website, www.lux-auction.com.
Those attending in person will have the unique opportunity to examine, try on, and inspect the watches under a magnifying glass during preview days on 25, 26, 27, and 28 March, following a specific timetable and only after prior registration online. However, on the day of the auction, only photos of the watches will be displayed, a measure taken for “safety reasons.”
All proceeds from the auction will be directed to a fund dedicated to crime prevention and social initiatives.According to the BGA, converting the proceeds of illegal activities into resources for combating crime will aim to “reaffirm its commitment to a fairer and more secure society.”
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