Kazakhstan Generates Revenue from Recovered Assets Through Expanding Auctions in 2025
Kazakhstan's Asset Recovery Campaign Yields Significant Results
Kazakhstan's asset recovery campaign, overseen by the Returned Asset Management Company since its establishment in September 2023, has been actively monetizing confiscated assets through auctions. As of July 2025, the company manages 37 assets valued at 48.6 billion tenge (approximately US$89.5 million), excluding jewelry [1].
The most recent auction, held on July 24, demonstrated strong demand, with 18 out of 56 jewelry lots sold. The auction generated a total of 16.9 million tenge (US$31,196), with notable sales including a FOPE bracelet, a crown necklace, a Picchiotti ring, and a set of silver and gold necklace and bracelet [1]. The average final bid was 87% of the original value [1].
Small items such as earrings, rings, bracelets, and collectible coins brought in 19 million tenge (approximately US$35,020) [1]. High-profile sales included several luxury watches, such as a Patek Philippe World Time Chronograph Green Mecca Edition, a Cartier Ballon Bleu Tourbillon, a Chopard Imperiale, and a Breguet 882U No. 3271 [1]. Additionally, the auction saw the sale of a building in Astana for 96 million tenge (US$176,947) [1].
The remaining 38 unsold pieces from the July 24 auction will be re-listed in future auctions [1]. Upcoming auctions, scheduled from July 22 to 31, will feature 164 new jewelry items, a property in Almaty, and 15 land plots in the Almaty Region [1]. Six land plots in Almaty are valued at 12.5 billion tenge (US$23 million) [1].
Since the beginning of 2025, the Returned Asset Management Company has raised 198.5 million tenge (US$365,885) through auctions [1]. The proceeds from these auctions are being transferred to the Special State Fund, which currently holds a total of 25.4 billion tenge (US$46.8 million), including 24.6 billion tenge (US$45.4 million) from asset sales and 800 million tenge (US$1.4 million) from rent, dividends, and trust management income [1].
The asset recovery campaign reflects Kazakhstan’s broader efforts to manage and liquidate assets obtained through corruption and illegal activities, aiming to recover state funds and strengthen governance [1]. For a comprehensive analysis of Kazakhstan's asset recovery campaign, readers are encouraged to read an article by The Astana Times' senior editor Assel Satubaldina [1].
[1] Data obtained from The Astana Times' article by Assel Satubaldina, July 2025.
Sports enthusiasts might find unexpected treasures in upcoming auctions, as the Returned Asset Management Company plans to sell several luxury watches, such as a Patek Philippe World Time Chronograph Green Mecca Edition, a Cartier Ballon Bleu Tourbillon, a Chopard Imperiale, and a Breguet 882U No. 3271, originally seized as part of Kazakhstan's asset recovery campaign.
After the June 24 auction, the company managed 38 unsold pieces which will be re-listed in future auctions, offering more opportunities for individuals to participate in recovering state funds and potentially owning a unique timepiece.
