Customs draws no bidders for smuggled sports cars auction 

On December 13, 2021, Monday, the Bureau of Customs (BOC) together with the Department of Finance (DOF), the Bureau of the Treasury (BTr), and the Land Bank of the Philippines held a government auction for seven sports cars.  

Two of those cars is a Ferrari Scuderia 430 and a Mercedes-Benz SLK 55 [Photo: BOC]

These cars were among the several ones that were seized from their owners for violating Section 1400 of the Republic Act 10863 or the Customs Modernization and Tariff Act. Specifically, Section 1400 pertains to misdeclaration resulting in discrepancies in duty and tax. Allegedly, these cars were smuggled into the country. 

Bidding them off like this in theory would be a win-win for the government. They could raise funds, and get rid of the vehicles that are already taking up space in the BOC’s warehouses. Also, it would certainly be a less painful alternative to outright destroying them. 

Unfortunately, the said auction for the seized cars had failed to attract bidders or bids. During the said public auction, which was livestreamed on social media, the Interagency Auction Committee (IAC) formed by officials from the agencies handling the auction had to declare a failure of bids for every car. 

In total, the bid could have raised a total of around Php 29 million. Cars that were subject to the bid included a 2008 Ferrari Scuderia 430, which had a floor price of Php 23.225 million. Of note, this was the most expensive model that was for auction on Monday. 

One of the cars (SLK55) being inspected [Photo: BOC]

Other cars in the auction that failed to get bids was a 2001 Mercedes Benz SLK350 worth around Php 1.2 million, a 2001 Mercedes Benz SLK55 worth Php 1.3 million, a 2011 Mercedes Benz E220 valued at Php 1.4 million, and a 2001 Porsche Boxster with a floor price of Php 1.7 million. 

There were also two Toyota MR2 units each worth around Php 600K but these were in poor condition as they had missing parts like pieces of their front fascias and doors.

Due to the failure of bids, the IAC announced that it will be holding another public bidding for the said cars. This second bidding for the aforementioned vehicles is scheduled to take place five days after the committee's announcement for the said event.  

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