Luxurious jewellery dripping with diamonds, prized art and designer handbags all once owned by Melissa Caddick have recently been sold for a fraction of what Caddick was believed to have swindled.
The items were sold off piece by piece and the proceeds have been used to repay some of the $23 million that Caddick was accused of stealing from investors in an elaborate Ponzi scheme before her disappearance in November 2020.
The final hammer fell on the catalogue of “luxury goods”, according “strong interest” from the public driving the total amount raised to $860,000 over three auctions.
“The sale of these items represents completion of significant personal assets of the Receivership and our aim was to get this completed before the end of 2022,” Principal at Jones Partners, Bruce Gleeson, said.
“In particular, the overall prices achieved for the designer clothing and luxury goods and jewellery reflect the strong interest in the various items, specifically the Canturi jewellery collection.”
From the Canturi collection, Caddick’s famous black sapphire and diamond “Stella” necklace with matching earrings, originally valued by auctioneers between $80,000 and $120,000, sold for $130,000.
Images: Jones Partners
This article first appeared on OverSixty.