I thought an auction was bidding and the highest bid won got the prize. Since when can anyone refuse to give you what you would bid on if you won the auction? Truly amazing Thailand!!!

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

Every auction of big stuff like cars and houses I ever went to had a reserve price on items.

You obviously are notre familiar with auction procedure. It is common practise for the seller to set a "reserve price" which if not met voids all biddings, therefore the sale...

There are a lot of filthy rich people in Thailand. I see more expensive vehicles on Thai roads than I have ever seen on Aussie roads.

There are approx. three times as many people here.

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

There are a lot of filthy rich people in Thailand. I see more expensive vehicles on Thai roads than I have ever seen on Aussie roads.

Taking a Bentley out in OZ you run the risk of a fifty cent coin being run down the side of the car, HK is the place for luxury cars and the top speed limit is 90 kph on the way to the airport, say's something.

There is a huge amount of wealth in Western Australia many Ferraris and other exotics are owned but rarely if ever see them parked in the street for the above reason. Have seen them on masse (20+) out in the country quite a site, they also do drive days at the race track.

Somchai said the department expected to make Bt600 million for the state from this annual auction.

Since the auction was yesterday, and the article from today, why they don't know yet how much they made ?

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

Well we are talking about cars here which are n most of the world a depreciating asset. Maybe they will sell it next year at the price they want along with all the deteriorating rice.

Sent from my iPad using ThaiVisa app

There is no such thing as a depreciating asset. That is an oxymoronic statement.

A new car is a liability, pure and simple.

Well at least we know the Lamborghini won't be running down police officers and pedestrians...at least not this year.

I would'nt bet too much on that.....more than likely that there always was a buyer for this car......!

chooka post # 4

There are a lot of filthy rich people in Thailand. I see more expensive vehicles on Thai roads than I have ever seen on Aussie roads.

There are a lot of filthy corrupt people in Thailand. That's why we see more expensive exotically painted vehicles on the road than elsewhere in the world

So that's the reason. Well then, now we know.

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

Then why start the bidding at a lower price than the reserve price?

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

Well we are talking about cars here which are n most of the world a depreciating asset. Maybe they will sell it next year at the price they want along with all the deteriorating rice.

Sent from my iPad using ThaiVisa app

I don't know if depreciating is the right term.

In 1981 I bought a 2 year old Ferrari 512BB kept it for a few months and sold it as it was the worst car I have ever owned.

If I would like to buy back that same car today, I would have to pay tenfold the price I paid for it then.

I assume the two eye candy girls are vampires.

No living creature could have skin that white and repulsive.

If I was going to buy a car for the value PLUS taxes, then I damn sure wouldn't buy it at a car auction. Those are usually As-Is deals where I am from.

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

Well we are talking about cars here which are n most of the world a depreciating asset. Maybe they will sell it next year at the price they want along with all the deteriorating rice.

Sent from my iPad using ThaiVisa app

I don't know if depreciating is the right term.

In 1981 I bought a 2 year old Ferrari 512BB kept it for a few months and sold it as it was the worst car I have ever owned.

If I would like to buy back that same car today, I would have to pay tenfold the price I paid for it then.

It's Italian. What do you expect? Same with me and an Alfa Romeo I bought freshman year at the university.

I thought an auction was bidding and the highest bid won got the prize. Since when can anyone refuse to give you what you would bid on if you won the auction? Truly amazing Thailand!!!

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

Not at all - you plainly know little about auctions ...

A person selling anything through auction can set a 'reserve price' - the minimum price the seller expects and the price under which the seller will not go below. This is normal practice and nothing unusual at all. Haven't you ever used Ebay?

Nothing amazing about it at all.

Since you so obviously consider yourself the expert on auctions, pray tell us why the staring bid on a reserved price item is lower than the actual reserved price.

BTW ... Ebay? Really?

I thought an auction was bidding and the highest bid won got the prize. Since when can anyone refuse to give you what you would bid on if you won the auction? Truly amazing Thailand!!!

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

A minimum price is quite common at auctions all over the world.

I can't understand why so many here drive "Toorak Tractors". (4WD tanks driven by folk from a wealthy Melbourne suburb).

The narrow little sois just outside Chiang Mai city have us all hugging the gutter to let one of these 'tractors' bulldoze through.

What's the betting these things never leave a city road?

Not sure if you can still get it, but in the UK you could buy spray on mud to give your Chelsea Tractor that 'off roader' look. Hilarious.

You don't have to read the professional academic literature by social psychilogist about the psychology of the Thai people. The results of the research should not be generaluzed. But to many of us it is clear. The Thai people are ego driven and image is their golden calf. To loose face is not far from death. I met some truly influential and respectable families in Thailand with a lot of money who are sadden by the fact that image has replaced character. Thailand has not always been like this.

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

Well we are talking about cars here which are n most of the world a depreciating asset. Maybe they will sell it next year at the price they want along with all the deteriorating rice.

Sent from my iPad using ThaiVisa app

I don't know if depreciating is the right term.

In 1981 I bought a 2 year old Ferrari 512BB kept it for a few months and sold it as it was the worst car I have ever owned.

If I would like to buy back that same car today, I would have to pay tenfold the price I paid for it then.

It's Italian. What do you expect? Same with me and an Alfa Romeo I bought freshman year at the university.

There are a lot of filthy rich people in Thailand. I see more expensive vehicles on Thai roads than I have ever seen on Aussie roads.

Guess you need to look further than Moorabbin mate

I thought an auction was bidding and the highest bid won got the prize. Since when can anyone refuse to give you what you would bid on if you won the auction? Truly amazing Thailand!!!

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

A minimum price is quite common at auctions all over the world.

Excuse me. But i was sure that when something was auctioned that it began at the lowest acceptable price and if noone bidded that then it was removed from the auction prior to anyone offering a lower bid

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

None of the cars were seized by accident? They probably all came into Thailand minus the coded ECU's,. THe only guys that can buy them are the guys with the ECU's as the cost of a new coded ECU...etc.

The whole thing is a scam to reduce the amount of duty paid and it's done on an institutional basis.

The Lamborghini not sold at auction will have to be purchased quietly from the Customs dept. by the guy that has the ECU....

They should have sent someone from NCPO to the auction!

I thought an auction was bidding and the highest bid won got the prize. Since when can anyone refuse to give you what you would bid on if you won the auction? Truly amazing Thailand!!!

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

Are you daft? never heard of a "reserve", look it up, you might learn something today. Nothing about Thailand, just truly amazing dimwits..

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

That's true but why not start the bidding at the reserve price and save time?

And another who has no idea how auctions work. Google, it's your friend. Research a little before just expelling the first stupid thing that comes to your mouth.

Bentleys' seem popular. How many were available in pink?

Sent from my SM-N9005 using Thaivisa Connect Thailand mobile app

Every single one of them.

Auctions can have a reserve price, if not met, then goods not sold

Sent from my iPhone using Tapatalk

That's true but why not start the bidding at the reserve price and save time?

And another who has no idea how auctions work. Google, it's your friend. Research a little before just expelling the first stupid thing that comes to your mouth.

Why are you "expelling the first (rude) thing that comes to your mouth"? Off your meds today?

There are a lot of filthy rich people in Thailand. I see more expensive vehicles on Thai roads than I have ever seen on Aussie roads.

Maybe it's because Australians are poor bast******.

Bidding on the Lamborghini opened at Bt19 million and reached as high as Bt23 million, but officials didn't release it because it failed to reach the Bt25 million target, calculated as the assessed value plus taxes.

If you must pay the assessed value plus taxes, who in the hell wants to buy it second hand ? You might as well buy a new one if it costs the same....

I thought an auction was bidding and the highest bid won got the prize. Since when can anyone refuse to give you what you would bid on if you won the auction? Truly amazing Thailand!!!

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

Since auctions began, it's called having a reserve price, if it's not reached the item can be withdrawn.

Stupid. Thailand always has these auctions for cars and properties. But they never learn because they set reserves at market rate! These are no longer new cars and have not been brought in by authorized distributors which may make these cars inferior without SE asian climate and fuel adjustments. If they don't sell the cars now, what happens? They get older and lose value. Sell them now!

The concept of a minimum reseved price is standard at auctions, but here's what I don't understand: 1) The cars were confiscated, not bought, so every single Baht is free money 2) The price is the actual value of the car plue tax - if I was wealthy enough to pay this price, why would I then go bid on a (untrusworthy/unknown origin) vehicle rather than go to a dealer and pay the same price?

Edit to add: I would have understood the reserve to be the tax, as that is what the customs department were denied, but the should not receive any money from the car's selling price.

I think there's more to it than that. Customs suspect that the original smugglers will try to buy them as they hold the vehicle's computer chip and are/were expecting the cars to go cheap with no chip.