Christmas auction on Melissa Caddick's art

A John Olsen painting valued up to $35,000 is up for grabs as Sydney fraudster Melissa Caddick's possessions go under the hammer before Christmas.

Caddick, 49, vanished in November 2020 the morning after ASIC raided her luxurious eastern suburbs mansion.

The self-styled financial adviser is believed to be dead after her severed foot washed up on a NSW beach last year.

ASIC had been investigating a Ponzi scheme run by Caddick which had netted her more than $23 million from unsuspecting investors - mostly family and friends.

Jewellery, designer goods, and artwork received from "out-of-pocket investors" will be returned to owners or sold via auction by Smith & Singer and Shapiro Auctioneers.

Four artworks listed by Shapiro Auctioneers are included in their 'Australian and International Art' auction to be held on Tuesday at 6pm.

The receivers of her estate, Jones Partners' principal Bruce Gleeson said Caddick's designer clothing and luxury goods would be included in Shapiro's 'Fine Jewellery, Watches and Luxury Design' auctions to be held on December 5 and 7.

More than 100 items will be up for auction ranging from hand embroidered Louboutin shoes, a snakeskin Bugatti handbag, to Dolce & Gabbana dresses.

A Canturi 18-carat white gold, diamond and gem jewellery set is valued up to $60,000 for the auction.

In February Caddick's luxury cars sold at auction for more than $360,000.

Caddick's Dover Heights mansion was bought in October.

The receivers hoped to fetch at least $10 million however, would not disclose the sale price until its settlement.