Thai Government Cashes In On Crooks' Cars

[sunkist]

Had a 1970 Hemi Cuda convertible in the shop of engine work and the big drug bust by DEA of the Nascar driver got the shop seized and everything in it. I met with them about my getting my car and they just laughed at me. Said it would never see and auction. Who in the DEA is driving my car now????

[Spoonman]

20 million for a Ferrari 355 spider. That car is at least 13 years old, made between 95 and 99. I sold my pristine 98 355 Tour De France Blue 355 in 2007 for $ 80,000 US. You could pick them up for 68k to 75k back then. 355 worth maybe 75k US today tops if very low mileage and engine out service done with updated cats which were defective.

Nobody gives a shit how much they are "worth" in the USA, these are Thai prices at a Thai auction.

If you think they are over priced compared to the USA why don't you import a few and make some money ?

Edited August 11, 2012 by Spoonman

[KKvampire]

Now you know where customs officials get their luxury cars from.

Average price of less than a million bht.

Bet the auction is 'invitation' only too.

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Are Customs officials in Thailand so well paid they have BMWs and Mecedes No Thailand the ASEAN Corrupt centre of SE Asia

[ttelise]

20 million for a Ferrari 355 spider. That car is at least 13 years old, made between 95 and 99. I sold my pristine 98 355 Tour De France Blue 355 in 2007 for $ 80,000 US. You could pick them up for 68k to 75k back then. 355 worth maybe 75k US today tops if very low mileage and engine out service done with updated cats which were defective.

Nobody gives a shit how much they are "worth" in the USA, these are Thai prices at a Thai auction.

If you think they are over priced compared to the USA why don't you import a few and make some money ?

Haha, touchy. Okay, so a 355 in Thailand is worth $ 600,000.00? What eva.

People see Ferraris and jump to conclusions that they costs a whole lot. I am simply pointing out that a 355 is not an expensive car, except a service can cost you you $ 10,000 to $15,000 US on a 355.

[SuneeTH]

Customs Dept grossed more than THB562mil from sales of confiscated cars

BANGKOK, 10 August 2012 (NNT) – The Customs Department has been pleased with the latest sales of its confiscated cars.

Customs Department Director-General Somchai Poolsavasdi said that the department has sold 317 out of 318 confiscated cars in the latest public auction.

Mr. Somchai said that the seized-car auction has grossed as much as 562.17 million baht.

He stated that a convertible 2002 Rolls Royce topped the sales with the price of 9.2 million baht, which is much higher than its opening price of 2.43 million baht, while a 2001 Proton Saga was sold at the lowest price of 47,000 baht, compared with its opening price of 45,000 baht.

The Customs Department Director-General said that the latest auction was the first of the fiscal year 2012.

In fiscal 2011, the Customs Department organized two seized car auctions, in which a total of 455 cars were sold for a total amount of 655.63 million baht.

-- NNT 2012-08-10

while a 2001 Proton Saga was sold at the lowest price of 47,000 baht, compared with its opening price of 45,000 baht.

I am sure the Malaysian must be proud of their achievement.

[cup-O-coffee]

"The customs department arranged for many security guards at the event to prevent people from threatening their bid competitors."

No way I would want to be singled out by the former owners informants while driving around in one of these. I do not believe they have a lifetime warranty against "threats" once you drive off the lot. Yikes!

These criminals love these cars, and would be sure to want them back once the get out on bail.

[Tanaka]

Now you know where customs officials get their luxury cars from.

Average price of less than a million bht.

Bet the auction is 'invitation' only too.

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Hahaha! I was about to comment that we can expect to see Custom's Officials driving some very fancy cars over the coming years.

They already are.

[Tanaka]

Quote: More than 318 seized luxury cars were auctioned by the customs facility, which expected to collect about 300 million baht from the auction. The cars were seized from criminals by customs and other government offices. Models of auctioned cars included Porsche, Bentley, Ferrari and Mercedes-Benz. //Unquote.

First I read it like this and thought, hey at last they are doing something right but then I realized what it said:

More than 318 seized luxury cars were auctioned by the customs facility, which expected to collect about 300 million baht from the auction. The cars were seized from criminals in customs and other government offices. Models of auctioned cars included Porsche, Bentley, Ferrari and Mercedes-Benz.

[jerrysteve]

Crooks in the crooked government cashing in On Crooks' Cars. Now isn't that RICH!

[jerrysteve]

So the Cooks in the Government are buying back their own cars...Wow!

[kartman]

And even had security guards there to prevent people from threatening their bid competitors.... from entering higher bids?

[Thai at Heart]

Auctioned car models included Bentley, Ferrari, and Porsche. The most expensive car was a gray 2010 Mercedes-Benz S300. It’s bidding opened at 4.9 million baht and finished at 5.7 million baht.

You have absolutely got to be kidding me, the Ferrari in the picture is worth than 20mn alone. How many cars were bought by the very people that they were confiscated from? Surely the reserve price should be at least the level of excise should the car have been imported legally? Have you ever seen such an obvious government sponsored scam? The cars will go straight back out on the car lots at twice the price for which they were just auctioned.

20 million for a Ferrari 355 spider. That car is at least 13 years old, made between 95 and 99. I sold my pristine 98 355 Tour De France Blue 355 in 2007 for $ 80,000 US. You could pick them up for 68k to 75k back then. 355 worth maybe 75k US today tops if very low mileage and engine out service done with updated cats which were defective.

This is Thailand. USD pricing means less than zero

[SOEYCHANLOY]

Customs Dept grossed more than THB562mil from sales of confiscated cars

BANGKOK, 10 August 2012 (NNT) – The Customs Department has been pleased with the latest sales of its confiscated cars.

Customs Department Director-General Somchai Poolsavasdi said that the department has sold 317 out of 318 confiscated cars in the latest public auction.

Mr. Somchai said that the seized-car auction has grossed as much as 562.17 million baht.

He stated that a convertible 2002 Rolls Royce topped the sales with the price of 9.2 million baht, which is much higher than its opening price of 2.43 million baht, while a 2001 Proton Saga was sold at the lowest price of 47,000 baht, compared with its opening price of 45,000 baht.

The Customs Department Director-General said that the latest auction was the first of the fiscal year 2012.

In fiscal 2011, the Customs Department organized two seized car auctions, in which a total of 455 cars were sold for a total amount of 655.63 million baht.

-- NNT 2012-08-10

PUBLIC AUCTION? Really public? My friend BIB says " this is only for big bosses of polit! " 555

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[Bagwan]

I wonder what the one car was that didn't sell?

a pink roller?!!!

How naive can you be, ducky? It's all mine now sweetie, all mine. It was a case of the pink Roller or The Snip. Sorry Doc, maybe next year.

[ttelise]

Auctioned car models included Bentley, Ferrari, and Porsche. The most expensive car was a gray 2010 Mercedes-Benz S300. It’s bidding opened at 4.9 million baht and finished at 5.7 million baht.

You have absolutely got to be kidding me, the Ferrari in the picture is worth than 20mn alone. How many cars were bought by the very people that they were confiscated from? Surely the reserve price should be at least the level of excise should the car have been imported legally? Have you ever seen such an obvious government sponsored scam? The cars will go straight back out on the car lots at twice the price for which they were just auctioned.

20 million for a Ferrari 355 spider. That car is at least 13 years old, made between 95 and 99. I sold my pristine 98 355 Tour De France Blue 355 in 2007 for $ 80,000 US. You could pick them up for 68k to 75k back then. 355 worth maybe 75k US today tops if very low mileage and engine out service done with updated cats which were defective.

This is Thailand. USD pricing means less than zero

So a 90s model 355 is $ 660,000 USD in Thailand or about 10 times what it costs in US? You tell me USD means nothing, but my point was that car is not an expensive car and I cannot imagine it being worth 20 million baht.

[ttelise]

Thai at heart:

More like 5mn baht for a 355, not 20 million baht.

Here us an ad for a 348 which is valued close to a 355. In 2010, it was 4.5 mm baht.

http://classifieds.thaivisa.com/automotives-vehicles/cars/ferrari-348-for-sale-70074.html

Here is a Thai exotic delear noting a brand new 2004 360 back in 2004 was around 14 mm baht and a used 355 BACK in 2004 was around 5.85 mn baht.

http://www.ferrarichat.com/forum/showthread.php?t=10897&page=2

[Thai at Heart]

Thai at heart:

More like 5mn baht for a 355, not 20 million baht.

Here us an ad for a 348 which is valued close to a 355. In 2010, it was 4.5 mm baht.

http://classifieds.thaivisa.com/automotives-vehicles/cars/ferrari-348-for-sale-70074.html

Here is a Thai exotic delear noting a brand new 2004 360 back in 2004 was around 14 mm baht and a used 355 BACK in 2004 was around 5.85 mn baht.

http://www.ferrarichat.com/forum/showthread.php?t=10897&page=2

Should have said 20mn new.

Ok it's old, but these auction prices are low.

http://supercars.asia/autoexchange/cars/ferrari/index.php