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Luxury Jewels Up For Grabs In Police Auction And The Prices Are A Steal

Bargain hunters: these deals are so good they should be criminal.

Between Tuesday, May 12 and Sunday, May 17, the Australian Federal Police will auction off  more than 250 luxury items, including fine jewellery and Swiss watches, obtained through the proceeds of crime.

The value of the haul totals up to one million dollars, and the goods will go under the hammer with deep discounts by auctioneers at First State Auctions.

About one million dollars worth of seized items is going up for auction. Image: First State Auctions

According to FSA, bargain hunters could purchase brand names such as Cartier, Bvlgari, Tiffany, Rolex, Emporio Armani, Breitling and Hublot for between 70 to 80 percent less than retail prices.

The most expensive lot up for auction is a Bvlgari Lvcea ladies watch, which usually retails for about $42,000.

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On the slightly cheaper side of the scale, one of the most popular items going under the digital hammer is an 18-carat-gold Cartier love bangle, including the box.

It usually retails at $15,200, but the auctioneers estimate one lucky person could snap it up for between $4000 to $6000.

More modestly priced items include black pearl stud earrings, expected to fetch up to $300, and a TW Steel men's watch is predicted to go for between $600 to $700.

More than 250 items are going under the digital hammer. Image: First State Auction

The items were originally bought with money made from illegal activity, but were seized by the AFP under proceeds of crime legislation.

The jewellery, gemstones and watches have all been certified by expert gemologists and diamond graders.

Funds raised by the auction will go towards the Commonwealth of Australia.

The auctions can be found here.