For the first time, the Criminal Assets Bureau (CAB) has targeted the Travelling community in a high-profile operation.
Having obtained High Court orders last week, CAB personnel seized 10 luxury vehicles over the weekend.
All were 05 registered and valued at €45,000 or more.
The operation, based in the southeast, was part of a wider exercise which has been ongoing for a number of months.
In a co-ordinated move, they cordoned off an area of Waterford city before swooping on Saturday.
Assisted by uniformed officers and detectives from the Waterford-Kilkenny division, the CAB personnel surrounded a site in the environs of the city.
Travellers were questioned and a number of cars and jeeps were seized.
Supt Michael McGarry of Waterford Garda station confirmed the raid took place early on Saturday afternoon and that it was aided by air support in the form of a Garda helicopter. Some goods were also taken.
He denied any knowledge of claims that threats were made by members of the Travelling community to officers during the raid.
There have been a number of other CAB seizures in recent weeks.
In Kilkenny city, a Traveller driving an 05 registered vehicle was stopped and the vehicle later seized under Section 41 of the Road Traffic Act when he could not produce insurance for the vehicle. It was later taken to Dublin for detailed examination by CAB personnel.
As a result of events at the weekend, several members of the Travelling community have received summonses to appear in the High Court next Monday.