A ROLEX watch put up for sale by the Criminal Assets Bureau on Ebay has sold for €7,000.
The auction placed by the Criminal Assets Bureau was the first sale of its kind – and bidding closed just before 5pm today.
CAB put the “item that has been previously worn” up for sale on the online shopping forum on 8 October, opening the bid at €6,000.
Although eBay enthusiasts submitted bids that soared to €24,000 on 9 October, many were retracted soon afterwards, and the highest bid amounted to €7,000.
An expert in the area of Rolex watches said the final price of €7,000 represented very good value for a two-year-old item.
“When you think that has been worn now for up to two years, it’s very good value because what other item of clothing, or even a car, would still sell for that much two years on,” he said.
The luxury timepiece, a Ladies Rolex oyster Perpetual Datejust, had been seized from a Limerick criminal by gardai in November 2012.
The description on eBay for interested consumers states that “the watch was purchased at Christmas 2011 and is accompanied with the benefit of a 24 month watch guarantee.”
"The sale of the watch arises from an application under the Proceeds of Crime Act 1997 and 2005 and is on sale by the court-appointed receiver."
More items seized by CAB are expected to go on sale online in the future, if the sale of the €9,000 Rolex is a success.
Any proceeds from the online listing will go to the Exchequer.