Fraudster Melissa Caddick’s extensive array of jewellery has sold at auction in Sydney for more than $800,000, with some items attracting as much as three times their estimated value.
Buyers overwhelmed Smith & Singer auction house on Wednesday night for a chance to bid on the 53-piece collection once owned by the con artist, as well as a selection of designer clothes and accessories.
“The energy was electric,” auction co-director Gary Singer told AAP.
“Everything in the Melissa Caddick category was sold. I don’t remember the last time that happened in Australia.”
Caddick, 49, disappeared in November 2020 after federal authorities raided her home as part of an investigation into a $23 million Ponzi scheme she had been running.
With the notoriety likely to have intensified interest in the items, a number fetched far in excess of their reserve.
“It’s great for the poor people who were defrauded by her because the more money that was raised last night, the more that will be returned to them,” Mr Singer said.
The most spectacular piece, a Canturi necklace with diamonds surrounding 13 black sapphires, sold for $130,000.
Caddick originally bought the “Stella” necklace for $370,000 in 2015.
The matching Stella ring sold for $14,000, while the accompanying earrings fetched $7500.
Her 18-carat gold, diamond and emerald “Geometric Lace” earrings, valued at between $2500 and $3400, sold for $10,000.
Another pair of white gold Canturi “Cubism” earrings sold for $8500, despite a starting price of $2000.
A matching bracelet, valued at $7000, sold for $24,000.
Bruce Gleeson from Jones Partners, the receivers of the Caddick estate, said the prices achieved from the auction reflected the interest in the quality and rarity of the items.
“We confirm the auctions for the main artwork pieces, designer clothing and luxury goods and jewellery have concluded, selling collectively for $860,000,” he said.
“The sale of these items represents completion of significant personal assets of the receivership,” he said.
Since February 2022, the receivers had liquidated Maliver’s (Caddick’s company) cars, the CommSec domestic and international share portfolios, the Dover Heights mansion and the significant majority of the luxury personal items, Mr Gleeson said.
“We are focused on dealing with the Edgecliff Property which forms part of the receivership property, as well as finalising our position regarding Maliver’s tax refunds in 2023,” he said.
Caddick’s artwork, luxury goods and designer clothes have also gone under the hammer with the profits to be returned to her scam victims.
Four artworks alone sold for a total of $48,000.
