AUCTION
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Bangkok Post

Thai customs puts 300 vehicles on auction block

Auction had previously been cancelled because of registration fears

PUBLISHED : Thursday, 06 July, 2017, 3:50pm
UPDATED : Thursday, 06 July, 2017, 3:51pm

The Customs Department in Thailand went ahead with the auctioning of 300 confiscated cars and motorcycles on Thursday, a week after the original auction was abruptly cancelled due to issues over registration of the vehicles raised by the country’s Department of Land Transport (DLT).

The department last week cancelled the auction after the DLT raised fears it could be used to launder illegally imported cars. It also asked if any of the vehicles were still subject to court cases.

Chuchai Udompote, a senior customs official, said all vehicles put for the auction would be eligible for registration. Changes had been made to meet the requirements set by the DLT.

Successful bidders will have six months to get their vehicles registered.

Among the lots were a 2015 Ferrari California with a starting price of 20.62 million baht (US$604,870) and a 2013 Harley Davidson Electra Glide valued at 620,000 baht (US$18,187).

The department expected to get up to 500 million baht (US$14.7 million) from the auction, organised by Union Auction Plc.

In 2016, the department auctioned off conficated illegally imported vehicles that fetched a total of 424 million baht (US$12.4 million). 

Read the original article at bangkok Post