LED to auction off gems worth B316 million

LED to auction off gems worth B316 million

Ruenvadee Suwanmongkol, director-general of the Legal Execution Department, addresses a recent meeting. (Photo supplied)
Ruenvadee Suwanmongkol, director-general of the Legal Execution Department, addresses a recent meeting. (Photo supplied)

The Legal Execution Department (LED) will auction off precious stones with a combined value estimated at 316 million baht on Saturday.

Director-general Ruenvadee Suwanmongkol said in an issued statement it will be the largest ever auction of jewels held by the department.

At least 24 gemstones will be offered - 37.19 carats of jade, 5,954.97 carats of various gems that have already been cut and polished, and 452.58 carats of rough gemstones, Ms Ruenvadee said.

Bidders at the June 17 auction will be required to first deposit a surety of 16 million baht each before they will be allowed to see the jewels, which be auctioned all at once, not piece by piece, she said.

The department expects a large number of people will be interested in bidding. The auction will be held at  the department's offices in Bang Khun Non, Bangkok Noi district of Bangkok.

A department official would give no additional information about the gemstones. 

The department, part of the Justice Ministry, normally handles post-judicial property settlements and forfeitures.

Do you like the content of this article?
COMMENT (6)