[Watch] Less Than Half A Day To Go If You Want To Bid For Seized 1MDB Artwork

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The US Marshals Service is auctioning four high-value artworks seized from the infamous 1MDB corruption case, with bidding concluding today (4 September).

And in a twist that sounds like it came straight from a Hollywood script—which, given the circumstances, is oddly fitting—three of these pieces once belonged to Leonardo DiCaprio.

Yes, that Leonardo DiCaprio. The same guy who played American former stockbroker and financial criminal Jordan Belfort in “The Wolf of Wall Street” – a film that was said to have been funded with 1MDB money.

The irony is so thick you could cut it with a Picasso palette knife.

To his credit, DiCaprio voluntarily surrendered the artworks after the US government filed suit to reclaim them.

The Star-Studded Art Collection (With a Criminal Past)

The collection includes works by one of the greatest artists of the 20th century, Pablo Picasso, African-American and Caribbean-American artist Jean-Michel Basquiat, and American photographer Diane Arbus – all stored in climate-controlled facilities since being taken into US government custody in December 2017.

These aren’t just any artworks; they’re pieces with stories that read like a crime thriller crossed with an art history textbook.

What’s actually up for auction:

Lot 9000: Diane Arbus Photograph – “Child With a Toy Hand Grenade in Central Park, NYC” (1962)

The famous black-and-white photograph that inspired Graham Nash to write “Teach Your Children”
Purchased by fugitive financier Jho Low for USD750,000 (RM3.17 million) in 2013 using stolen 1MDB funds
Given to DiCaprio as a gift in March 2014
Current high bid (at time of writing): USD205,050 (RM867,461) (that’s 73% below what Low originally paid – talk about depreciation)
Professionally framed with UV-protective plexiglass, because even stolen art deserves proper conservation

Lot 9001: Pablo Picasso Painting – “Tête de taureau et broc” (Head of a Bull and Pitcher, 1939)

Oil on canvas signed and dated by Picasso himself (“Picasso 28.1.39”)
Purchased by Low for USD3.28 million (RM13.87 million) in 2014 with 1MDB money
Came with a handwritten note to DiCaprio: “Happy belated Birthday! This gift is for you” signed with Low’s initials
Current high bid: USD2,707,500 (RM11.45 million) – about USD572,500 (RM2.42 million) less than Low paid
Latest 2025 conservation update: Still in “Good to Excellent condition” despite being 86 years old and having a more checkered recent history than most octogenarians

Lot 9002: Jean-Michel Basquiat Self Portrait (1982)

Colored crayons and black felt pen on paper, measuring 30 x 22 inches
Surrendered by “The Wolf of Wall Street” producer Joey McFarland, who received it as a gift from Low
Current high bid: USD5,002,500 (RM21.16 million)
Features the kind of minor condition issues you’d expect from a 43-year-old drawing that’s been through a federal investigation

Lot 9003: Jean-Michel Basquiat “Red Man One” (1982)

The crown jewel of criminal art collections: a massive 76 x 48-inch mixed media masterpiece
Purchased by Low for USD9.4 million (RM39.76 million) in 2012 using diverted 1MDB bond funds
Current high bid: USD6,502,500 (RM27.51 million) – that’s more than USD2.9 million (RM12.25 million) under what Low paid – ouch
Mounted in a custom travelling shadow box, because when you’re laundering money through art, you might as well do it with style

The Auction House That’s Definitely Not Christie’s

Here’s where things get delightfully absurd: This isn’t happening at Sotheby’s or Christie’s.

Instead, it’s being handled by Gaston & Sheehan Auctioneers in Pflugerville, Texas—a family business that typically deals with impounded cars and property seized by local police.

They’ve previously auctioned off American criminal and financier Bernie Madoff‘s personalised satin Mets jacket, which somehow feels like perfect preparation for this moment.

An art adviser noted, “This auction is definitely off the radar. We’re used to a much more elegant presentation. It’s different from a Madoff Mets jacket as these works contain ideas.”

The 1MDB Scandal: A Quick Refresher

For those who missed this particular episode of “Rich People Behaving Badly,” the 1MDB scandal involved USD4.5 billion (RM19.04 billion) being illegally siphoned from the sovereign wealth fund between 2009 and 2015.

Low used the stolen money to fund a lifestyle so lavish that it would make a Saudi prince blush, including the purchase of USD137 million (RM579.51 million) worth of art.

Born Low Taek Jho, the Penangite is currently a fugitive, believed to be hiding in China, presumably surrounded by art that he actually paid for legally.

Meanwhile, former Prime Minister Datuk Seri Najib Razak is in prison, along with two former Goldman Sachs executives who became entangled in the entire affair.

Najib has consistently denied any wrongdoing throughout the legal proceedings.

@pro_kebenaran BRADLEY HOPE & TOM WRIGHT, PENULIS BILLION DOLLAR WHALE DEDAH JHO LOW HIDUP MEWAH DI SHANGHAI #fyp #fypシ゚viral #fyppppppppppppppppppppppp #isusemasa #isuviral #foryou #najibrazak #adendum #titahadendum #1mdb #jholow ♬ original sound – Pro Kebenaran

The Silver Lining

All proceeds from the auction will go to the citizens of Malaysia, the actual victims of this massive financial crime.

According to the Finance Ministry, the Malaysian government has successfully recovered RM29.7 billion (approximately USD7 billion) in funds linked to 1MDB and its former subsidiary, SRC International Sdn Bhd, since establishing the Assets Recovery Trust Account.

As former federal prosecutor Jane Levine pointed out, there’s actually an upside for buyers: “One thing you’re not concerned about is money laundering because you’re buying from the government. So the works may have had a checkered past, but this is a legitimate sale.”

Auction details:

Requires USD5,000 (RM21,150) deposit to bid (considerably less than what Low was allegedly stealing per minute)
No buyer’s premium charged
Conducted online through txauction.com
Bidding ends today (4 September)

So there you have it: Four masterpieces with criminal pedigrees, being sold by the same people who usually auction off seized Honda Civics, with the proceeds going to help the actual victims of one of history’s biggest financial crimes.

It’s like justice, but with better wall art.