BOC to auction off smuggled Bugatti cars, sees P647 million sales
MANILA, Philippines — The Bureau of Customs (BOC) targets to raise at least P647 million from the sale of two smuggled Bugatti Chirons.
In a notice, the BOC said it will conduct a public auction next week for the hot cars.
To be auctioned off is a used 2017 blue Bugatti Chiron with a floor price of P312.39 million and a bond of P15.62 million.
The BOC will also sell a used 2019 red Bugatti Chiron with a floor price of P334.24 million and bond of P16.71 million.
The two luxury vehicles were seized in February this year after being seen traversing the roads of Pasay, Pasig, Muntinlupa and Cavite.
Both cars have no import documents.
For the auction, the BOC said interested bidders must have a certificate of accreditation as dealer of motor vehicles and their components issued by the Land Transportation Office.
The highest bid shall be declared as the winner, except when clustering occurs.
Clustering occurs when the difference between the highest and the second highest bid is within 10 percent of the highest bid.
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