Seized cars could be destroyed after second auction fails

THE GOVERNMENT is considering destroying seized luxury cars after they failed to attract bids in the second round of public auctions on Monday, the finance ministry said.

“Destruction is an option,” Finance Secretary Carlos G. Dominguez III told reporters in a Viber message.

Customs and Treasury offices again auctioned off the five seized luxury vehicles after the first round of bidding failed to attract bids in December.

Streamed live on Facebook, the five vehicles again attracted no bids on Monday.

The cars up for auction – a 2008 Ferrari Scuderia 430, 2001 Porsche Boxster, 2001 Mercedes Benz SLK350, 2001 Mercedes Benz SLK55 and 2011 Mercedes Benz E220 – were seized in May and June last year.

Floor prices for vehicles have been set at 29 million pesos combined.

Customs usually destroys contraband cars, but Finance Secretary Carlos G. Dominguez III ordered the office to auction the cars off last year.

The government formed an inter-agency committee consisting of the Treasury, Customs and the Land Bank of the Philippines to conduct the public auction.

“We will also be seeking our director’s advice on next steps regarding auction cars,” Assistant Treasurer Erwin D. Sta. Ana said at the end of the auction, also noting that destroying the vehicles remains an option. — Jenina P. Ibanez

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