rooster59 Posted June 17, 2017 Share Posted June 17, 2017 Benz Racing’s Lamborghini put on auction again today, but draws no bidder The Office of the Narcotic Control Board (ONCB) today put on auction 129 items of luxury cars, superbikes, and gold ornaments that were seized from drug traffickers. Put on auction included two Lamborghini cars owned by Akarakit “Benz Racing” Worarojcharoendet, and Nattapol Narkam, both were charged for their alleged connection with the transnational Laotian drug lord Xaysana Keopimpha, now in prison. Benz Racing’s Lamborghini car auction price started at 11 million baht but still did not draw interest from any bidder. The auction price is one million baht lower than its last auction in March. The starting price of the two Lamborghini supercars start 11 million baht though market price is 24 million baht. ONCB secretary general Sirinya Sithichai said the starting price of the Lamborghini car could not be brought down much because the car still has outstanding finance on it. Full story: http://englishnews.thaipbs.or.th/benz-racings-lamborghini-put-auction-today-draws-no-bidder/ -- © Copyright Thai PBS 2017-06-17 Link to comment Share on other sites More sharing options...
Tilacme Posted June 17, 2017 Share Posted June 17, 2017 Nobody up for short changing a drug lord, what a surprise. Link to comment Share on other sites More sharing options...
darksidedog Posted June 17, 2017 Share Posted June 17, 2017 This seems a bit premature. The court has yet to rule if the car is considered linked to the drug case, so may yet need to be returned. Why is it being offered at auction for less than half its market price? If he is found not guilty, who is going to compensate him for the 13Million Baht shortfall? Link to comment Share on other sites More sharing options...
scorecard Posted June 17, 2017 Share Posted June 17, 2017 2 hours ago, Tilacme said: Nobody up for short changing a drug lord, what a surprise. i wonder if there's no bidders because given the recent news on expensive cars there's doubt about who really is the current owner. Link to comment Share on other sites More sharing options...
observer90210 Posted June 17, 2017 Share Posted June 17, 2017 the super car being the former toy of a individual charged withj a notorious drug lord, and assuming he would want his ride back, who would risk the venture in having this beauty parked in front of their porch and attract unnecessary attention and trouble?... jealousy often has no limits.. Link to comment Share on other sites More sharing options...
Srikcir Posted June 17, 2017 Share Posted June 17, 2017 Car doesn't sell ... destroy it. Move on. Link to comment Share on other sites More sharing options...
jaiyen Posted June 17, 2017 Share Posted June 17, 2017 And it is a really crappy colour ! For those who have never been in one, it is so uncomfortable because of the hard suspension and a pita to get in and out. One ride was enough. Link to comment Share on other sites More sharing options...
halloween Posted June 17, 2017 Share Posted June 17, 2017 3 hours ago, darksidedog said: This seems a bit premature. The court has yet to rule if the car is considered linked to the drug case, so may yet need to be returned. Why is it being offered at auction for less than half its market price? If he is found not guilty, who is going to compensate him for the 13Million Baht shortfall? Doh! that's why he is being charged, he has assets that he can't explain their source of funding. He's not getting the car back EVER unless he can explain where the deposit came from, and if he could do that, he would have done so well before this. BTW asset seizure suspected of being proceeds of crime are quite common outside of Thailand - USA and Oz in particular. Link to comment Share on other sites More sharing options...
darksidedog Posted June 17, 2017 Share Posted June 17, 2017 Just now, halloween said: Doh! that's why he is being charged, he has assets that he can't explain their source of funding. He's not getting the car back EVER unless he can explain where the deposit came from, and if he could do that, he would have done so well before this. BTW asset seizure suspected of being proceeds of crime are quite common outside of Thailand - USA and Oz in particular. I agree, but everywhere else, they wait until you have been convicted before the assets are sold. If you read the full story, it confirms it will have to be returned if it is not proven to be part of the drug ring actions, so selling it for less than half price seems odd, and, as my post mentioned, premature. Link to comment Share on other sites More sharing options...
Get Real Posted June 17, 2017 Share Posted June 17, 2017 Don´t worry about that it´s not going to be considered part of the drug rings assets. Thoose papers has been in the making for long time, if they didn´t existed from start. Link to comment Share on other sites More sharing options...
just.a.thought Posted June 17, 2017 Share Posted June 17, 2017 Why would you want to own a super car in a country with crappy roads and traffic jams not to mention speed bumps the size beached whales...... Link to comment Share on other sites More sharing options...
halloween Posted June 17, 2017 Share Posted June 17, 2017 2 hours ago, scorecard said: i wonder if there's no bidders because given the recent news on expensive cars there's doubt about who really is the current owner. What are the odds that the correct import duties have been paid? Link to comment Share on other sites More sharing options...
digger70 Posted June 18, 2017 Share Posted June 18, 2017 If they were seized items then there shouldn't be a reserve of 11mill.they should start from 0 THB.It doesn't matter what the market value is.It should be up to the bidders what they want to pay. Link to comment Share on other sites More sharing options...
samsensam Posted June 18, 2017 Share Posted June 18, 2017 19 hours ago, just.a.thought said: Why would you want to own a super car in a country with crappy roads and traffic jams not to mention speed bumps the size beached whales...... face? Link to comment Share on other sites More sharing options...
scorecard Posted June 18, 2017 Share Posted June 18, 2017 16 minutes ago, digger70 said: If they were seized items then there shouldn't be a reserve of 11mill.they should start from 0 THB.It doesn't matter what the market value is.It should be up to the bidders what they want to pay. Interesting point. It's been mentioned that their is money owing on finance. A key factor in successful operation of a finance company (same as credit cards) is very serious risk management. If it's true there is still money owing on this car then it shows extreme lack of professionalism on the part of the lender to not have checked the ownership etc., before granting the loan. Perhaps the finance should also be investigated. Link to comment Share on other sites More sharing options...
ratcatcher Posted June 18, 2017 Share Posted June 18, 2017 20 hours ago, just.a.thought said: Why would you want to own a super car in a country with crappy roads and traffic jams not to mention speed bumps the size beached whales...... Sorry, but up where I live, the country roads are in good shape, no traffic jams, no speed bumps except at the malls in P'Lok. Frankly if someone gave me a Lambo, I'd try and swap it for an old Porsche 911, but somehow, I suspect the Porsche would be more expensive than Benz Racing's Aventador. perhaps someone who is familiar with the 911 can comment? As Samsensam wisely commented, owning a supercar in Thailand is all about show and face. IMO, the roads around Bangkok aren't the Autostrada or Autobahns, where these vehicles can really shine. Link to comment Share on other sites More sharing options...
TallGuyJohninBKK Posted June 18, 2017 Share Posted June 18, 2017 No one seems to be paying any attention to the fact here that this guy has been charged, but not convicted of anything, as yet. I can understand seizing his assets once he's criminally charged. But to start disposing of them prior to any criminal conviction in the case seems at bit.... premature??? If I were a betting man, I'd bet he's guilty of something somewhere. But there's still such a thing as legal due process -- or at least, there is outside of Thailand. Link to comment Share on other sites More sharing options...
impulse Posted June 18, 2017 Share Posted June 18, 2017 1 hour ago, digger70 said: If they were seized items then there shouldn't be a reserve of 11mill.they should start from 0 THB.It doesn't matter what the market value is.It should be up to the bidders what they want to pay. The fly in that ointment comes when a squad of goons at the auction site cast nasty glances at anyone bidding against their boss. Who would get the car for $5 plus the expense of hiring the goons. So, maybe $105 all in. This ain't their first rodeo. Link to comment Share on other sites More sharing options...
MaxLee Posted June 18, 2017 Share Posted June 18, 2017 ONCB confiscating and then auctioning for themselves,..... hmmmmm,..............Sent from my iPhone using Thaivisa Connect Link to comment Share on other sites More sharing options...
Dagnabbit Posted June 18, 2017 Share Posted June 18, 2017 Lower the reserve, get bidders bidding, they'll likely still make the 11 millSent from my SM-A720F using Tapatalk Link to comment Share on other sites More sharing options...
TallGuyJohninBKK Posted June 18, 2017 Share Posted June 18, 2017 40 minutes ago, impulse said: The fly in that ointment comes when a squad of goons at the auction site cast nasty glances at anyone bidding against their boss. Who would get the car for $5 plus the expense of hiring the goons. So, maybe $105 all in. This ain't their first rodeo. Not sure who you're thinking of in your post. But if I were a betting man, I'd bet that someone already has dibs on the car they want, someone who doesn't have to worry about bidding in an auction, someone who can just wait for the car to go unclaimed, and then somehow it ends up parked in their garage a bit down the road. Link to comment Share on other sites More sharing options...
bangkokairportlink Posted June 18, 2017 Share Posted June 18, 2017 Not only Fake but also ridiculous news. Journashiite know nothing, have no brain, but keep "writing". Link to comment Share on other sites More sharing options...
starky Posted June 18, 2017 Share Posted June 18, 2017 7 hours ago, digger70 said: If they were seized items then there shouldn't be a reserve of 11mill.they should start from 0 THB.It doesn't matter what the market value is.It should be up to the bidders what they want to pay. Spot on especially on a car that you still have to pay off after you buy it. Link to comment Share on other sites More sharing options...
halloween Posted June 19, 2017 Share Posted June 19, 2017 10 hours ago, starky said: Spot on especially on a car that you still have to pay off after you buy it. The reserve is set at B11 mill to pay off the finance company, why would you have to pay it again? Link to comment Share on other sites More sharing options...
Tilacme Posted June 19, 2017 Share Posted June 19, 2017 18 hours ago, scorecard said: Interesting point. It's been mentioned that their is money owing on finance. A key factor in successful operation of a finance company (same as credit cards) is very serious risk management. If it's true there is still money owing on this car then it shows extreme lack of professionalism on the part of the lender to not have checked the ownership etc., before granting the loan. Perhaps the finance should also be investigated. As I understand it, the paper owner was BR whereas in reality it is/was a drug ring asset, allegedly. Having a credible owner front the finance and ownership is I believe the whole point of the exercise. Link to comment Share on other sites More sharing options...
starky Posted June 19, 2017 Share Posted June 19, 2017 2 hours ago, halloween said: The reserve is set at B11 mill to pay off the finance company, why would you have to pay it again? You are of course correct. I initially misread it as you bought the car and the finance would still be owing, which frankly in Thailand wouldn't surprise me. Link to comment Share on other sites More sharing options...
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