PHILSTAR

THE Bureau of the Treasury said it will conduct a second-round auction for imported European cars that had been seized by the Bureau of Customs (BoC).

The vehicles are a Ferrari Scuderia 430, a 2001 Porsche Boxster, a 2001 Mercedes Benz SLK350, a 2001 Mercedes Benz SLK55, and a 2011 Mercedes Benz E220.

No bids were received during the first round.

The BoC had set a floor price for the smuggled vehicles at P29 million.

The BoC’s previous practice was to destroy such smuggled cars. — Luz Wendy T. Noble