Prince's treasure trove goes on sale

Even gold plated toilet accessories are going under the hammer

A huge auction has got under way in the tiny Sultanate of Brunei, where more than 10,000 items that once belonged to a company controlled by the disgraced Prince Jefri Bolkiah are on sale.

It was impossible to see everything... there are warehouses crammed full from top to bottom

Neil Duckworth, Smith Hodgkinson

The sale - which is being handled by the British auction firm Smith Hodgkinson - was prompted by the collapse of Prince Jefri's Amedeo Corporation in the Asian economic crisis four years ago.

Prince Jefri - the younger brother of the Sultan - was forced into bankruptcy when it was revealed he had been spending state money to the tune of $1.4bn over 10 years.

The 10,000 items under the hammer include some of the world's finest crystal and porcelain, and even a flight simulator for a jumbo jet.

Heavily guarded

Bidders paid $550 just to attend

Hundreds of foreigners and locals packed a heavily guarded former plastercast factory converted into a warehouse to bid for a share of the royal possessions.

Those attending had to pay a deposit of $550 just to get in. The sale is expected to last for six days.

A marble table worth $195 was the first item to be sold, followed by a brass cannon for $1,500 dollars.

"The auction was a success and I'm glad that things went well," said Allan Widdos, the director of liquidators.

Luxury items

Local residents dominated Saturday's session, bidding for an assortment of furniture and practical items, such as storage shelves and sewing machines, with foreigners apparently waiting for the luxury items, participants said.

Jefri Bolkiah: Lavish lifestyle

For sheer variety, the sale has been billed as the biggest auction ever mounted.

Goods available include 8,500 slabs of Italian marble, 200 wrought iron Victorian lamp posts and rooms full of Baccarat crystal and Limoges porcelain.

There are hundreds of Louis XIV-style sofas and chairs, a flight simulator for a jumbo jet, hundreds of gold plated toilet brush holders, even two fire engines.

In all, 21 warehouses are crammed with goods amassed by Prince Jefri over a 10-year period.

Crammed warehouses

Smith Hodgkinson partner Neil Duckworth, who spent four days viewing some of the items contained in the warehouses, said it was impossible to estimate their total value.

21 warehouses are packed to the ceiling

"In the time I was there, it was impossible to see everything... there are warehouses crammed full from top to bottom with items originally intended for the construction and lavish furnishing of hotels and palaces," he said.

Unofficial estimates say Brunei could rake in about $17m from the auction.

"There is something for everybody," said George Leslie, senior partner in Smith Hodgkinson.