RAK Courts to auction seized gold and diamonds
Interested bidders have been invited to attend the live auction
Ras Al Khaimah: Ras Al Khaimah Courts has announced a public auction of seized gold and precious gemstones following a major customs enforcement operation, marking the final stage of a legal process to convert confiscated assets into tradeable valuables.
The auction, organised by the Unified Committee for Auctions in coordination with Ras Al Khaimah Customs, will take place on Tuesday, March 3, 2026, at the Ras Al Khaimah Court headquarters at 1.30pm.
Officials said the items were initially seized by Ras Al Khaimah Customs after authorities intercepted quantities of raw gold paste and high-value rough gemstones. The assets were later transferred to the courts and cleared for public sale under judicial procedures.
Verification and refining
Authorities implemented a multi-stage technical process to ensure transparency and market value. Certified experts assessed and classified the gemstones, while the seized gold was transported to Emirates Minting Factory for refining.
Records show the raw gold weighed about 2,262 grams before being melted and purified. Laboratory testing confirmed a purity level of 99.99 per cent (24 karat), resulting in a stamped investment-grade gold bar.
Auction assets
The sale will feature the refined gold bar alongside multiple certified lots of rough diamonds and precious stones, each catalogued and numbered for bidding.
Officials said judicial auctions help enforce court rulings while allowing seized assets to re-enter the economy through regulated channels.
Interested bidders have been invited to attend the live auction and complete registration procedures in advance.
