SMUGGLED luxury vehicles seized by the Bureau of Customs (BoC) will be disposed of in an auction, with the floor price set at P29 million.

The auction was announced in a notice of public auction by the BoC, as directed by Finance Secretary Carlos G. Dominguez III.

The bureau will auction on Dec. 13 five used vehicles it seized in May and June — a 2008 Ferrari Scuderia 430, a 2001 Porsche Boxster, a 2001 Mercedes Benz SLK350, a 2001 Mercedes Benz SLK55, and a 2011 Mercedes Benz E220.

The seized cars are covered by orders of forfeiture issued by the BoC.

“To ensure transparency of the process and to promote competition through broad dissemination of auction information, an Inter-Agency Auction committee composed of representatives from the BoC, the Bureau of the Treasury (BTr), and the Land Bank of the Philippines was formed,” the BTr said in a statement Thursday.

The auction will be livestreamed through the government agencies’ Facebook pages.

“This administration is very serious in addressing collusion in the disposal of smuggled goods. Through the added network of the BTr and Landbank, the notice of auction and other key information on the vehicles will be made available to the wider public, thus enhancing the competitive nature of the process,” the BTr said.

The BoC usually destroys smuggled cars, including 21 vehicles worth P58.55 million in June.

Individuals, sole proprietorships, partnerships and corporations may participate in the public auction on Dec. 13. Bidders may register with BoC between Dec. 2 and Dec. 9. — Jenina P. Ibañez