THE government finally raised P6.305 million from its auction of seized luxury cars on Tuesday, marking the first time it awarded bids since it resumed disposing this type of vehicle through public auction back in December.
Bureau of Customs Deputy Commissioner Edward James A. Dy Buco said during the auction they decided to adjust the floor price for these seized luxury cars in consideration of the vehicles’ physical condition. There were no bidders for the remaining three used luxury cars: the Ferrari Scuderia 430 ; the Porsche Boxster ; and, the Mercedes E220 . These vehicles were re-offered at floor prices of P11.61 million, P898,981 and P870,054, respectively.
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