Customs auction of luxury cars

[snowgard]

If someone is interested, on august, 8th start a customs luxury cars auction.

Car list as pdf: https://customsauction.sia.co.th/pdf/auctionlist.pdf

More infos: https://customsauction.sia.co.th/

[Airalee]

Looking at the PDF, there are some pretty good Starting prices (depending on mileage and condition) compared to asking prices on one2 car and Kaidee.  The only problem is that you will be bidding against dealers who know what the true market values of the cars actually are.

[snowgard]

3 hours ago, Airalee said:

The only problem is that you will be bidding against dealers who know what the true market values of the cars actually are.

Right, but the most dealers have their places full of cars because the business run bad. And who want take a bigger bank credit if you don't know when you can pay it back? ????

So the chances to get a "cheap luxury car" are much more better as before.

[Airalee]

1 minute ago, snowgard said:

Right, but the most dealers have their places full of cars because the business run bad. And who want take a bigger bank credit if you don't know when you can pay it back? ????

So the chances to get a "cheap luxury car" are much more better as before.

Sure....there are better deals now, but going off the prices listed for cars such as the Bentley Vantage and Continentals, there is a TON of money to be made on a quick flip.  Even the SLK 230 at ฿186k is less than 1/3 of the asking prices on all the used car sites.

[Jitar]

Presumably these cars have no Blue book.  I wonder how much grief and cost awaits successful bidders with the DLT to register their car.  

[steelepulse]

I wonder if any inspections are allowed in regards to being able to check engine compression, vehicle alignment, ablility to check for serious frame damage etc.

 

Are there such things are getting  a dealer to buy by proxy for the average person?

[sanuk711]

There seem to be a lot of --"You just Take over the payments" cars on face book at the moment, Covid = no work I guess.

[DaRoadrunner]

Prices certainly look too cheap to be true. Is there import duty and vat on top? No blue book, how do you get it registered?

[DaRoadrunner]

Still, I would like to know what the Porsche 911s, Aston Martin and Nissan GTRs sell for. Being at present abroad for medical treatment, I am unable to attend the auction this year. Maybe next years.

 

If any of you you decide to attend the auction, kindly let me know the sale prices. Thanks.

[steelepulse]

Seems to be a lot of 6 series bmw's and cl 500 mercedes.  Parts are probably a big issue for these and all the other cars which appear to be black market imports who skipped paying the tax.  Are these cars full of issues so that's why they are not in the hands of the customs officers?

[CLW]

Why some cars are so old already?

[ronaldo0]

Apart from the Aston Martin the rest are far too old to bother !

[Justgrazing]

Is that a 13m Maybach bottom right of the red Fezza .. I may be back for that one .. a lot of the rest look a bit ropy .. and there's usually loads of hassle to get cars sold in these kind of auctions registered and some insurance companies look very closely at covering these motors ..

[Jimbo53]

On 7/25/2020 at 7:21 AM, Airalee said:

Looking at the PDF, there are some pretty good Starting prices (depending on mileage and condition) compared to asking prices on one2 car and Kaidee.  The only problem is that you will be bidding against dealers who know what the true market values of the cars actually are.

Just an example of how much of a rip off these cars are..USD$32.000 =THB M1.006.000

https://www.autoblog.com/cars-for-sale-detail-6053676927653929280-Maybach-62-2004

[Airalee]

46 minutes ago, Jimbo53 said:

Just an example of how much of a rip off these cars are..USD$32.000 =THB M1.006.000

https://www.autoblog.com/cars-for-sale-detail-6053676927653929280-Maybach-62-2004

Compared to the US they are definitely a rip-off...but compared to the prices asked locally, they’re pretty good.

[salsajapan]

calling for problems...

Edited July 29, 2020 by salsajapan

[HauptmannUK]

A story told to me by a Thai friend of mine (senior government official), no idea if its true...

Friend of his bought a nice used Ferrari in the UK.  Removed the ECUs (engine management, immo, ABS etc) and had it shipped to Thailand.

When it arrived he told customs that the import taxes were too high and didn't collect it.

Six month later customs auctioned it off and because it wouldn't start, or even turn over, no one wanted it. He was the only bidder. Picked it up for peanuts and refitted the electronics...

[Big Joke]

Caveat Emptor     From 2019

 

These importers removed some important devices to make engines malfunction and discourage others from joining the bidding, enabling them to buy back these vehicles at low prices, Mr Krisada said, adding that the department has taught them a lesson by destroying seized luxury cars that do not have key equipment.

 

Thailand's Customs Department holds an annual auction for vehicles seized in criminal cases, where most were confiscated for being illegally smuggled in the country or seized from gangs and drug lords.

Last Thursday’s auction however, revealed that 95 were pulled from the auction sheet as it turned out they were stolen from other countries and did not belong to the Thai state.

Deputy Customs Department spokesman Kreecha Kirdsriphan told AFP that the oversight was “an innocent mistake” and that as soon as it was discovered that the cars were stolen they were taken out of the auction list.

 

Fetching the highest price was a black 2006 Rolls-Royce Phantom, which started bidding at 6.8 million baht and sold for of 25 million baht. Second was the 17.1 million baht sale price of a brown 2014 Porsche 911 Turbo, which started at 11.8 million baht. A red 2002 Ferrrari 458 sold for 16.5 million baht, up from its 5.8-million-baht opening bid.

 

[rucker4012]

Can't read Thai language of second link. Where exactly is this auction? One respondent mentioned Blue book. Will registration be a problem? Does Thai govt insure legal registration?

[ChipButty]

Buyer beware thats all I have to say 

[ronaldo0]

8 hours ago, Big Joke said:

Caveat Emptor     From 2019

 

These importers removed some important devices to make engines malfunction and discourage others from joining the bidding, enabling them to buy back these vehicles at low prices, Mr Krisada said, adding that the department has taught them a lesson by destroying seized luxury cars that do not have key equipment.

 

Thailand's Customs Department holds an annual auction for vehicles seized in criminal cases, where most were confiscated for being illegally smuggled in the country or seized from gangs and drug lords.

Last Thursday’s auction however, revealed that 95 were pulled from the auction sheet as it turned out they were stolen from other countries and did not belong to the Thai state.

Deputy Customs Department spokesman Kreecha Kirdsriphan told AFP that the oversight was “an innocent mistake” and that as soon as it was discovered that the cars were stolen they were taken out of the auction list.

 

Fetching the highest price was a black 2006 Rolls-Royce Phantom, which started bidding at 6.8 million baht and sold for of 25 million baht. Second was the 17.1 million baht sale price of a brown 2014 Porsche 911 Turbo, which started at 11.8 million baht. A red 2002 Ferrrari 458 sold for 16.5 million baht, up from its 5.8-million-baht opening bid.

 

And every effort was made to return it to its owner ????

Probably a lot of high so peoples garages full of cars that were pulled from auction !

[elgenon]

On 7/25/2020 at 2:29 AM, snowgard said:

Right, but the most dealers have their places full of cars because the business run bad. And who want take a bigger bank credit if you don't know when you can pay it back? ????

So the chances to get a "cheap luxury car" are much more better as before.

Plus, I would think they would need to save room for a markup. 

[elgenon]

OP,  thanks for the tip.