The World’s Most Notorious Used-Car Lot? 47 Cars From $2 Billion BustForbesPeter Lyon, ContributorUpdatedTue, September 15, 2026 at 3:49 AM UTCAdd us on GoogleA Ferrari SF90 Stradale, which went under the hammer, is the first ever Ferrari to feature PHEV (Plug-in Hybrid Electric Vehicle) architecture. (Photo by Martyn Lucy/Getty Images)Getty ImagesThree years after Singapore police staged the country's largest-ever money-laundering crackdown, some of the most conspicuous spoils are finally changing hands.In August 2023, simultaneous raids across the city-state led to the arrest of 10 foreign nationals and the seizure or freezing of assets eventually valued at more than S$3 billion—roughly US$2.4 billion. Authorities said money from overseas scams and illegal online gambling had been converted into real estate, cash, jewelry, handbags, watches and, inevitably, an extraordinary collection of automobiles.Cars like this red Rolls-Royce Dawn were auctioned off. (Photo by Didier Messens/Getty Images)After 3 long years, the cars finally faced the auctioneerNow, after a long three-year wait, comes the garage sale.AdvertisementAdvertisementA closed-bid auction launched in late July included 47 vehicles connected to the investigation. The collection featured 11 Rolls-Royces, two Bentley Flying Spurs and supercars from Ferrari, McLaren and Porsche. At the more practical—but hardly bargain-basement—end were 24 lavish six-seat Toyota Alphard and Vellfire minivans, vehicles beloved by Asian executives, captains of industry, celebrities and anyone who believes first-class airline seating should come with sliding doors.Singapore's The Strait Times reported that a Ferrari SF90 Stradale plug-in hybrid, a Ferrari F8 Spider, a red Porsche 911 Targa, a McLaren GT, a Rolls-Royce Dawn and several Rolls-Royce Cullinans and Phantoms had gone under the hammer. Some had barely been driven. One 2023 Rolls-Royce Phantom Extended Wheelbase showed just 284 kilometers—176 miles—while the SF90 had covered only 500 kilometers. Comparable used examples had been advertised in Singapore for around S$2 million for the Phantom and S$1.6 million for the Ferrari.But low mileage does not necessarily mean showroom condition.Several cars have been sitting in storage since October 2023. Auction photographs reportedly showed vehicles coated in dust and what appeared to be mold on the steering wheels of at least four sports cars. Workshop inspections found that many required new batteries and tires, while others needed attention to their brakes, air-conditioning or air-suspension systems.AdvertisementAdvertisementFor a Toyota, that may be irritating. For a Ferrari, McLaren or Rolls-Royce, it can resemble a second purchase price.Toyota Alphard boasts a luxurious interiorToyota Alphard (and Vellfire) minivans employ luxurious interiors.Buyers faced with hefty repair billsOne veteran Singapore motor trader estimated that returning a stored Rolls-Royce Phantom to the road, including overhauling its brakes and replacing its tires, could cost between S$50,000 and S$60,000. Modern luxury cars dislike inactivity: batteries deteriorate, seals dry, tires develop flat spots, brake components corrode and electronically controlled suspension systems can become expensive mechanical sulkers.Buyers must therefore bid on more than the car. They are bidding on the size of the recommissioning invoice lurking underneath it.Some vehicles carry another unusually valuable asset: their license plates. Numbers such as "888," which are considered lucky in Asian cultures, or even the single digit "1," can reportedly command more than S$60,000 in Singapore's status-conscious resale market. The cars also retain valid Certificates of Entitlement, the notoriously expensive permits required to own and operate vehicles in Singapore.AdvertisementAdvertisementThe automotive auction is only one act in an enormous liquidation. Authorities also confiscated hundreds of luxury bags—including Hermès and Louis Vuitton pieces—high-end watches, jewelry, cash, property and 68 gold bars. Auctioneer Hotlotz says it plans to stage 15 online sales between September 2026 and May 2027, including dedicated auctions for Hermès bags and watches from Rolex, Patek Philippe and Richard Mille.All proceeds from the forfeited assets will ultimately enter Singapore's Consolidated Fund.There may be bargains among the Rolls-Royces and Ferraris—but only for buyers who inspect carefully and arrive with substantial repair reserves. In this auction, the criminals have already paid the price. The successful bidders could be next.This article was originally published on Forbes.com
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