Still no takers for hot cars in 2nd auction
The government failed anew to sell 10 smuggled luxury vehicles as prospective buyers did not show up during a public bidding yesterday at Manila's South Harbor.
Customs Commissioner Nelson Tan, however, was not surprised, saying it was normal for bidders to wait until Customs-set prices have been lowered before making any bids.
The average price for each of the sport utility vehicles is P3.2 million -- an amount which the bidders apparently found too high. Among the vehicles that were for sale were a Toyota Land Cruiser Prado and Range Rovers.
Tan said there is a possibility of holding a third bidding where prices could be lowered by as much as 20 percent.
The auction started at around 1 p.m. at the Custom's basketball court, but Isidro Pe, chief of the Auction and Cargo Disposal Division, declared a failure of bidding an hour and a half later when no interested buyer showed up.
The first auction was held last month at the Philippine Trade Center along Roxas Boulevard. It failed because the floor prices were initially too high.
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