The winning bidder for 32 used motorcycles in July has decided to withdraw their deposit, according to a report by the Police Department of Hong Linh Town (Ha Tinh) on October 10.
The reason given for the withdrawal is a lack of financial ability to complete the payment. The local police are now in the process of re-auctioning these assets.
Prior to this, in late July, the Police Department of Hong Linh Town collaborated with Hong Linh Auction Joint Stock Company (based in Ha Tinh City) to organize an auction for 32 used motorcycles. These motorcycles were confiscated as evidence of administrative violations and transferred to the state treasury.
The starting price for the 32 used motorcycles was 68.3 million dong, with a bidding increment of 500,000 dong and a deposit of 10 million dong.
The auction proceeded with 123 participants. The bidding for the motorcycles reached 500 million dong in the first round, 1.2 billion dong in the second round, and 5 billion dong in the third round. In the final round, a person from Thua Thien – Hue province offered 6.8 billion dong, which was 100 times the starting price.
A representative from Hong Linh Auction Joint Stock Company stated that the auction price of 6.8 billion dong was significantly higher than the actual value of the motorcycles.
The value of these 32 motorcycles was only a little over one hundred million dong, making it unlikely for someone to pay 6.8 billion dong for them. The high bidding could be attributed to individuals intentionally driving up the price, and they may choose to withdraw their deposit if they win the auction.
TH (Tuoitrethudo)
Photo credit: Social Media
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