Auction frenzy over Caddick's jewellery

December 08, 2022 02:53 AM CET | By AAPNEWS
Image source: AAPNEWS

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.

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.

The most spectacular piece, a Canturi necklace with diamonds surrounding 13 black sapphires, went 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, went for $10,000.

Another pair oft white gold Canturi 'Cubism' earrings sold for $8500, despite a starting price of $2000.

A matching bracelet, valued at $7000, sold for $24,000.

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.


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