Gems from bankruptcy case to be on the auction block

national June 14, 2017 14:50

By Watcharachai Klaipong
The Nation

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The Legal Execution Department (LED) will auction gems with a starting price of Bt316 million on Saturday, LED director-general Ruenvadee Suwanmongkol told a press conference at the Government Complex on Bangkok’s Chaeng Watthana Road on Wednesday.

The auction, which will be held at the department’s Capitol Building (Asithipat) on Bang Khun Non Road in Bangkok, will feature gemstones garnered from a concluded case at the Central Bankruptcy Court, she said. 

It was expected that the gemstones would fetch about Bt401.5 million.

Each person who wants to join the bidding will be required to deposit Bt16 million in the form of cash or a cashier’s check before they will be allowed to see the jewels.

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