Customs put on auction 535 vehicles today

[speedtripler]

Does anyone know if the cars/bikes that do not sell come again next auction?

I believe everything was sold. Some of the bikes went below the listed price.

What kind of an "auction" sells things below the reserve??

Aha, a Thai one... Silly question

I guess the concept of a real auction got lost in translation..

[ExpatOilWorker]

Does anyone know if the cars/bikes that do not sell come again next auction?

I believe everything was sold. Some of the bikes went below the listed price.

What kind of an "auction" sells things below the reserve??

Aha, a Thai one... Silly question

I guess the concept of a real auction got lost in translation..

Who said there was a reserved price?

Lets face it, not all the confiscated bikes were in mint conditions and some desk jockey at the customs was probably assigning an estimated value, maybe without actually seeing the bike itself.

Some of the engine size were also a bit off in the auction list, but small insignificant typos really.

[ExpatOilWorker]

Cynical alert:

I think the wealthy have a great way of buying expensive cars cheap here, and wonder if the person who had the car seized is allowed to bid.

Never mind, I answered my own question.

Amazing Thailand.

Both right and utter nonsense at the same time. Wealthy Thais have companies and often buy cars through the company, getting a sizable tax benefit. In that way they do get a better deal than you and me, but when they 3 years later sell their BMW 730Li, mere mortal like us can buy it at half the new price.

The grey market or parallel import is insignificant small compared to general car market.

[PoorSucker]

I wanted this Jaguar for 10.000 baht

[ExpatOilWorker]

Anybody care to guess what this 2002 Ferrari 458 sold for?

[farangmick]

What's this about putting a couple of hundred thou down as deposit, just to be allowed to bid? What happens to the loser's deposit?

[Anthony5]

Having been involved with this back home, it's a real hit and miss deal. I had a partner in this business. He knew his stuff really well and still, got stung. He owned a dealership in my town.

You get a good deal on the car, then find out all the hidden problems and end up with not such a good deal. Many who attend these auctions are experts and really know their stuff.

Indeed, many members here stare themselves blind at the low reserve prices, but have not the slightest idea about what's involved in such an event.

I recall that a few years ago there would be weekly bike auctions on Thepprasit road, many members on here claimed that this was the place to get a bike on the cheap.

Then I recall the posts from members that actually had bought a bike at that auction, and reported the problems they got.

Troubles to get the green book, mechanical problems with the bike that only showed up after the deal was done, and others that calculated that after all the additional expenses were paid could as well have bought a bike at a second hand dealer for the same price. With that difference that in the latter case they would have a place that serviced and helped them if there were problems a few months down the road.

[Phaeton]

I wanted this Jaguar for 10.000 baht

Yeah interesting idea. There was a Ferrari, looked like a Dino, that I was looking at too. The Ferrari looked like it had been completely ransacked, for want of a better word. Shift knob gone, lights gone, badges gone, etc.

[Phaeton]

Anybody care to guess what this 2002 Ferrari 458 sold for?

2012 must be? Please tell me more than 4.5 million?

[ExpatOilWorker]

What's this about putting a couple of hundred thou down as deposit, just to be allowed to bid? What happens to the loser's deposit?

Did you read post #36?

Guess not!

[ExpatOilWorker]

Anybody care to guess what this 2002 Ferrari 458 sold for?

2012 must be? Please tell me more than 4.5 million?

It is listed as a 2002, but I did not have a closer look. It was all cleaned up and drivable at the auction. It went for 16.5 million baht.

[speedtripler]

What's this about putting a couple of hundred thou down as deposit, just to be allowed to bid? What happens to the loser's deposit?

Its 100k,you get it back if you don't purchase anything

It helps keeps out nosey people who are not going to buy anything anyway etc

[BSJ]

I did find this - it's a little late for this auction but the site may be useful for future ones;

http://www.union-auction.com/en/auction/auction_list.aspx?id=6698&brand_group=All&model_group=All&year_group=All&color_group=All&beg_group=All

Just looking at the first page at Union......nothing to get excited about. Those starting prices are jacked up somewhat!