Dubai: Want to buy jewellery? Gold, diamond, watches up for auction on October 21

Dubai Customs on Saturday announced that they will hold a public auction of valuable items not cleared by travellers.

The auction will be held on Monday, October 21, at the Dubai Customs Headquarters Mina Rashid, Customs Training Centre, 3rd Floor.

The types of goods that will be up for the auction are gold and silver, gold jewellery, diamond jewellery, precious and semi-precious stones and watches.

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The authority said that the goods can be examined at Dubai Airports, Terminal 3 (Arrivals), Dubai Customs Museum (Near Exit 4). They can be examined from Monday, October 7, for a duration of 10 days, from 9am to 1pm from Monday to Thursday, and from 9am to 12pm on Friday.

Dubai Customs said that a non-refundable down payment equal to 10% of the value of the goods to be auctioned must be paid in cash.

The successful bidder must collect the purchased goods within seven days after the auction date. Any uncollected goods within the prescribed period will be forfeited and sold at the next auction, the authority said.

The successful bidder will have to pay VAT and excise tax, the authority added.

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