THE GOVERNMENT is considering destroying seized luxury cars after they failed to attract bids in the second-round public auction on Monday, the Department of Finance said.
“Destruction is an option,” Finance Secretary Carlos G. Dominguez III told reporters in a Viber message.
The Customs and Treasury bureaus again put up for auction the five seized luxury vehicles after the failure of the first-round auction 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, a 2001 Porsche Boxster, a 2001 Mercedes Benz SLK350, a 2001 Mercedes Benz SLK55, and a 2011 Mercedes Benz E220 — were seized in May and June last year.
The floor prices for the vehicles were set at a combined P29 million.
Customs usually destroys smuggled cars, but Finance Secretary Carlos G. Dominguez III directed the bureau to put the cars up for auction last year.
The government formed an interagency committee composed of the Treasury, Customs, and the Land Bank of the Philippines to conduct the public auction.
“We will also seek our principal’s guidance on the next steps with respect to the cars being auctioned,” Deputy Treasurer Erwin D. Sta. Ana said at the end of the auction event, also noting that destruction of the vehicles remains an option. — Jenina P. Ibañez
