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AUCTION

Paris auction porters ‘pilfered 250 tonnes of valuables’

Porters from Paris' most famous auction house went on trial Monday, accused of systematically stealing 250 tonnes of valuable antiques, jewels and artworks, including a Chagall painting and rare Ming dynasty porcelain.

Paris auction porters 'pilfered 250 tonnes of valuables'
Photo: AFP

Around 40 “Col Rouge” (red collars), named after their uniforms, along with six auctioneers from the Hotel Drouot auction house are on trial for charges of gang-related theft, conspiracy to commit a crime or handling stolen goods.

The case against the employees was launched in 2009 after an anonymous tip alerted investigators to a Gustave Courbet painting that disappeared while being transported in 2003.

Investigators allege institutionalised theft by the porters — known as “Les Savoyards” as all members of the secretive group came from the Alpine region of Savoie.

Raids uncovered a mountain of treasures, including precious jewels and antique furniture, that went missing — and the lavish lifestyle of the porters. One apparently drove a Porsche 911 and the latest BMW cabriolet, while another allegedly bought a Paris bar with the fruits if his spoils.

The porters are accused of pilfering objects sent by the auction house to clear the homes of wealthy people after their deaths, taking items that weren't listed in the inventory. Some items were apparently then sold at
auction.

According to the prosecution, the practice — known as “la yape” which means “theft” in Savoie slang — was endemic and profits were shared among the group.

The “Col Rouge”, who wear black uniforms with red collars, have monopolised the transport and handling of valuables for the Hotel Drouot auction house since 1860.

Membership of the union is tightly controlled and limited to 110.

Each new member was apparently brought into the fold by an existing member, and according to some testimonies the initiation process involved stealing something and sharing the proceeds with fellow insiders.

Some of the porters allegedly defended the practice saying they were “stealing from the dead”.

Several dozen victims of the alleged scam are seeking damages in the trial, including the Hotel Drouot, which no longer uses the porters' services.

“These thefts committed on such a large scale have shamed the institution,” the auction house's lawyer Karim Beylouni said.

The trial continues until April 4.

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DIAMOND

Rare pink diamond to go under hammer in Geneva

An extremely rare pink diamond will be auctioned in Geneva on November 11 by Sotheby's, which says it is worth between $23 and $38 million.

Rare pink diamond to go under hammer in Geneva
A model poses with the “The Spirit of the Rose” diamond during a press preview on Friday. Photo: Fabrice Coffrini/AFP
Named “The Spirit of the Rose” after a famous Russian ballet, the 14.83-carat diamond mined in Russia is the biggest ever to go under the hammer in its category — “fancy vivid purple-pink”.
 
The occurrence of pink diamonds in nature is extremely rare in any size,” Gary Schuler, head of Sotheby's jewellery division, said in a statement. “Only one per cent of all pink diamonds are larger than 10-carats.”
   
Speaking to AFP, Benoit Repellin, head of fine jewellery auctions at Sotheby's Geneva, said the oval-shaped diamond was “completely pure.”
 
 
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The rough diamond was unearthed by Russia's Alrosa — one of the world's leading diamond producers — in the Republic of Sakha in the northeast of the country in July 2017.
   
Repellin said it took a painstaking year for cutting masters to turn the diamond into its polished form.
   
Sotheby's said the world auction record for a diamond and any gemstone or jewel was the “CTF Pink Star”, a 59.60-carat oval pink diamond that sold for $71.2 million in Hong Kong in 2017.
   
According to Repellin, five out of the 10 most valuable diamonds ever sold at auction were pink.
   
The sale of this gem coincides with the closure of the world's largest pink diamond mine in Australia after it exhausted its reserves of the precious stones.
   
The Argyle mine, in the remote Kimberley region of Western Australia, churned out more than 90 percent of the world's pink diamonds.
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