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Drug Lord 'Pablo Escobar Of The Caribbean' Auction: 27 Luxury Watches Sold In Dominican Republic

01/ 5/12 05:46 PM ET   AP

SANTO DOMINGO, Dominican Republic -- Authorities in the Dominican Republic on Thursday auctioned off 27 luxury watches that once belonged to an alleged drug boss known as the "Pablo Escobar of the Caribbean."

Each watch was sold for less than half its market value for a total of roughly $600,000, said Julio Cesar Suffront, financial investigations director for the National Drug Control Agency.

The watches were taken to experts in Miami and valued at between $5,000 and $85,000 each, he said.

They were the first items seized from Jose David Figueroa Agosto to be auctioned. The accused druglord also owned 20 properties and 10 luxury cars, including a special edition Camaro that runs on jet fuel and cost more than $75,000.

The money made from the auctions will be distributed to several government agencies and drug rehabilitation centers in the Dominican Republic.

Agosto was arrested in Puerto Rico in July 2010 after a nearly 10-year manhunt following his escape in 1999 from a prison in the U.S. Caribbean territory.

He is accused of shipping Colombian cocaine to the U.S. mainland through Puerto Rico. He also faces several murder charges in the Dominican Republic.

Agosto has been compared with Escobar, a notorious cocaine kingpin from Colombia who was killed in 1993.

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Filed by Clare Richardson  |