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Thursday, Nov. 8, 2012

News photo
Crown jewel: This 7.5-carat diamond seized by the national tax agency from a person who was delinquent in paying taxes is set to go on the auction block along with several other jewels beginning Friday. NATIONAL TAX AGENCY/AFP-JIJI

Tax agency to auction off seized diamonds

AFP-Jiji

Tax inspectors are selling off at least $2 million worth of diamonds via an Internet auction site after seizing them from people who had not paid their taxes.

The five jewels include one with a starting price of ¥40.8 million ($507,000) that experts say is a flawless 7.5-carat rock with a diameter of more than 1.3 cm.

Gemologists graded the diamond D, meaning it is totally colorless.

In a series of auctions starting Friday, five jewels will go under the virtual hammer in weeklong sales, with ¥25.6 million being the lowest starting price for any of the stones.

A spokesman for the tax agency said he could not reveal the names of the tax delinquents who had forfeited the diamonds.

The Japanese-language auction website can be found at www.koubai.nta.go.jp



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