ASTANA – The Recovered Asset Management Company in Kazakhstan has announced auctions on Oct. 9 and 11, allowing each participant to contribute to supporting social projects, reported the company’s press service.
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The raised funds will go to the Special State Fund, which finances key initiatives aimed at benefiting society and improving the quality of life for citizens.
The auction will feature two objects on Oct. 9: shares in companies engaged in the collection and processing of water and the production of thermal energy.
The auction on Oct. 11 will feature a range of luxury items, including five collectible coins worth 1.56 million tenge (US$3,231), eight premium brand watches worth 314.7 million (US$650,063), and five pieces of jewelry valued at nearly 98 million tenge (US$202,333).
According to Kazinform, the items on sale include brands such as Cartier, Breguet, Tiffany, and Ulysse Nardin. Each asset will be sold at a price determined by an independent appraiser. Prices for jewelry and watches may be below market value.
The Recovered Asset Management Company, formed by government decree on Sept. 21 last year, manages and sells state-recovered assets, ensuring the proceeds contribute to key social projects.
As of Sept. 20, the company sold assets worth 5.7 billion tenge (US$11.7 million).
