Newly, the joint auction company of Vietnam has once again put the license plate 30K-567.89 up for auction for the third time.
In the previous auction session on September 15, this license plate was auctioned for 13.075 billion VND. However, the winning bidder later withdrew.
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On October 28, this license plate was auctioned for the second time with a winning bid of over 16.5 billion VND, higher than the first auction. It seemed that a new owner had been found for this license plate, but the bidder of the second auction also failed to fulfill their financial obligations within the 15-day deadline and had to put the license plate up for auction again for the third time.
In the auction session held this morning, the license plate 30K-567.89 was sold for 12.57 billion VND. Compared to the previous two times, the amount of 12.57 billion VND may seem “modest,” but is still considered very high.
According to the regulations on vehicle license plate auctions, within 15 days from the announcement of the results, the winning bidder must pay the full amount (after deducting the deposit) into the specialized account of the Ministry of Public Security. Once the full payment is received, the Ministry of Public Security will issue an electronic invoice for the auctioned license plate to the winning bidder for them to proceed with the vehicle registration process. The deadline for registering a vehicle with a auctioned license plate is 12 months.
If the winning bidder fails to pay the full amount within the 15-day deadline or fails to complete the license plate registration process within 12 months, the auction result will be canceled. The violator will not be refunded the deposit (40 million VND) or the winning bid amount they have paid. License plates that have been canceled as mentioned above will be put up for auction again. License plates that are put up for auction but have no participants will be returned to the inventory for random allocation.
TH (Tuoitrethudo)
Auctioning car license plates isn’t just about making money.
On the afternoon of October 11th, following discussions, the National Assembly Standing Committee reached an agreement to submit a Draft Resolution on piloting the granting of the right to choose automobile license plates through auctions to the National Assembly, with the aim of granting more authority to the Government.
