232 seized luxury cars auctioned

[koo wallety tourist]

anyone get one? http://news.xinhuanet.com/english/photo/2015-02/27/c_134023754_2.htm

[koo wallety tourist]

>> wont even ask how many of the previous owners faced consequence.

Edited February 28, 2015 by koo wallety tourist

[thrilled]

Can anyone say why these cars were seized?were they from drug dealers etc?Or what?I would have liked to have found out how much these cars got at auction.

I'm always looking for A deal.

[koo wallety tourist]

something about tax not paid, import tax if i recall.

Edited March 1, 2015 by koo wallety tourist

[WarpSpeed]

Meaning the original owners probably ended up bidding and winning most of them back only likely at a discount. That's probably their work around, possible if you have enough money to do which it is likely the previous owners of these cars have no problem with.

Edited March 1, 2015 by WarpSpeed

[Sviss Geez]

Meaning the original owners probably ended up bidding and winning most of them back only likely at a discount. That's probably their work around, possible if you have enough money to do which it is likely the previous owners of these cars have no problem with.

Some discount. The original owners would have paid once for their cars originally and then paid again to get them at the auction, that seems to be possibly doubling the price or thereabouts, not discounting them.

[WarpSpeed]

Not necessarily, if they never paid the original tax and thus the are confiscated, the auction goes to the highest bidder that doesn't necessarily cover the tax owed, they usually just want to get whatever they can. If the tax has to be paid in full first then that is another story. But when the tax and other fees exceed triple the cars cost anything less then that would be a discount.

Edited March 1, 2015 by WarpSpeed

[StefanBBK]

300 million baht for 227 luxury cars? Did I read that correct. That would be very low prices. Or could it be that I have a different understanding of luxury?

[IMHO]

300 million baht for 227 luxury cars? Did I read that correct. That would be very low prices. Or could it be that I have a different understanding of luxury?

There's always some beaters in the list, and a number of kei cars... they're not all Ferrari's and Lambos

[tomtaylor1]

Hi All,attended the auction on Friday, it was very busy, no room for parking, nearly all seating at the venue taken, no shortage of money here.

The deposit required to register for bidding was, for cars up to 1,500.000 a deposit of 100,000, for cars over this price 150,000 Baht.

The deposit cashiers cheque has to be drawn from a Bank in The Bangkok province only, the said cheque can only be repaid into the same branch.

On successfully bidding on the car, the balance needs to be paid in full with a separate cheque again drawn from a Bank in the province, the deposit cheque is then returned to you.

Nissan 350Z's 2002 from 880,000, accident damage repaired, 2002, 990,000. 2003 1,150.000.2004 1,300.000, 2002, 1,250.000. 2003, 1,150.000,1,200.000. 1,050.000. 1,200.000.

AC Cobra, 1967, fiber body 2,500.000. Bentley Continental GT, 2004, 5,000.000, 2006, 5,500.000. 2004, 5,000.000.Flying Spur, 2006,5,600.000 and 5,900.000.

Bmw, 645ci, 2004, 2,300.000,2,400.000.2005, 2,500.000.

It was an interesting day out to Bangkok, but the frustration in trying to find some where to park, took over an hour, spoil t it some what.

Tom

[WarpSpeed]

Maybe park somewhere further away like a market or mall next time and take a taxi would be my suggestion. I do that when visiting the Embassy, park up the road at the hotel and walk or across the street in the building that houses Homeland Security if it's early and spaces are available.

[mike324]

I believe most of the cars are sold around 30% below used car prices.

[steelepulse]

I checked taladrod for prices on the 6 series beemer, and their prices were very similar to the auction prices, while the 350Z prices were 20-30% lower than listed taladrod prices, although some newer 350Z's were almost priced the same as these older 350's.

http://taladrod.com/w20/Search/TbSch3F_40.aspx#mk:6+md:445

http://taladrod.com/w20/Search/TbSch3F_40.aspx#mk:34+md:435

[A1Str8]

That ferrari is beautiful but it's unnecessary to mess it up with those two girls in front of it.

Edited March 2, 2015 by A1Str8

[topt]

That ferrari is beautiful but it's unnecessary to mess it up with those two girls in front of it.

Aren't they included in the price.................

[WarpSpeed]

That ferrari is beautiful but it's unnecessary to mess it up with those two girls in front of it.

I agree and they have the ugly end of the car open to view instead of the most attractive end.

[WarpSpeed]

I believe most of the cars are sold around 30% below used car prices.

I checked taladrod for prices on the 6 series beemer, and their prices were very similar to the auction prices, while the 350Z prices were 20-30% lower than listed taladrod prices, although some newer 350Z's were almost priced the same as these older 350's.

http://taladrod.com/w20/Search/TbSch3F_40.aspx#mk:6+md:445

http://taladrod.com/w20/Search/TbSch3F_40.aspx#mk:34+md:435

So sounds like the original owners would likely have gotten a discount in buying them back? Having avoided a 300% plus tax. especially for the more pricey models it may be a significant discount.

Edited March 2, 2015 by WarpSpeed

[Sviss Geez]

I believe most of the cars are sold around 30% below used car prices.

I checked taladrod for prices on the 6 series beemer, and their prices were very similar to the auction prices, while the 350Z prices were 20-30% lower than listed taladrod prices, although some newer 350Z's were almost priced the same as these older 350's.

http://taladrod.com/w20/Search/TbSch3F_40.aspx#mk:6+md:445

http://taladrod.com/w20/Search/TbSch3F_40.aspx#mk:34+md:435

So sounds like the original owners would likely have gotten a discount in buying them back? Having avoided a 300% plus tax. especially for the more pricey models it may be a significant discount.

You're right that the prices maybe lower than normal retail at the auction but don't forget that if the original owner buys then that is the second time he's paid for that same car. He didn't get his money back when it was confiscated, he just loses the vehicle. Overall that's probably not a good deal.

[WarpSpeed]

But Cheese you're not considering the fact that they haven't paid the tax of 300% (hence the confiscation, they surrendered them) so even if it costs them 200% of value for example, being original cost plus auction purchase they still save the final 100% and that doesn't include additional taxes added in the original import that would have been discounted through their auction, that's quite a potential discount on say the above Ferrari compared to the original import costs and fees. It also explains why they'd take the risk in the first place and then give them up to auction, likely pay someone to make sure they get notified and so forth, there's a reason they do it, they know the system and the operatives.

[IMHO]

But Cheese you're not considering the fact that they haven't paid the tax of 300% (hence the confiscation, they surrendered them) so even if it costs them 200% of value for example, being original cost plus auction purchase they still save the final 100% and that doesn't include additional taxes added in the original import that would have been discounted through their auction, that's quite a potential discount on say the above Ferrari compared to the original import costs and fees. It also explains why they'd take the risk in the first place and then give them up to auction, likely pay someone to make sure they get notified and so forth, there's a reason they do it, they know the system and the operatives.

Right. What about the ones that never actually make it to the auction lanes?

[WarpSpeed]

Uh huh...Those too.. as you noted though either way they have their go around..