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Singapore luxury condo auctions draw no bids and all properties remain unsold
Opening prices for the seven seized properties totaled more than S$43 million, but bidding ended with no sales and all listings unsold after an hour.
A Singapore luxury-condo auction tied to a major money-laundering case saw no successful bids, with the first unit failing to attract any buyers when it went under the hammer, according to SCMP Economy.
After the silent start, a 2,658 sq ft marble-clad unit with a private lift was offered at S$7.55 million, but after seven minutes of no bids, a lower S$4 million offer was rejected and the room laughed, SCMP Economy reported.
After an hour of trading, all seven seized properties were still unsold, with SCMP Economy noting that the opening prices for the batch totaled more than S$43 million.