A listing published on the Turkish Ministry of Trade’s e-auction platform has become the focus of public interest after authorities offered a confiscated gold chain for sale at a strikingly low starting price.
The Ministry of Trade regularly auctions off goods seized while allegedly being smuggled into the country through its online bidding system.
4.3-KILOGRAM GOLD CHAIN UP FOR AUCTION
According to the listing published by the Muratbey Directorate in Istanbul’s Çatalca district, the item is a 995-millesimal purity (24-karat) gold chain measuring 85 centimeters and weighing 4 kilograms and 349 grams.
The chain was put up for auction with an opening bid of TRY 15.75 million, despite its official estimated sale value being set at TRY 31.5 million. As of publication, no bids had been submitted.
Participants must deposit a TRY 100,000 guarantee fee in order to join the auction. Bidding is scheduled to end on May 8, 2026, at 4:50 p.m. local time.
JEWELERS’ CHAMBER SEALED THE ITEM
The Istanbul Jewelers’ Chamber reportedly examined the gold chain before sealing it and placing it under protection.
AUCTION MAY BE CANCELED
Officials stated that the Ministry of Trade may cancel the auction if bids fail to reach the estimated sale value. In such a case, the item could be relisted at a later date.
STAMP DUTY ALSO APPLIES
In addition to the final sale price, buyers will also be required to pay a 1.517% stamp duty fee.
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