Ho Chi Minh City auctioned more than 1,600 violating vehicles, earning double the starting price

(Dan Tri) - A batch of 1,606 vehicles, including more than 1,200 motorbikes violating traffic laws in Ho Chi Minh City, has just been successfully auctioned. The winning price was more than 3.23 billion VND, 1.75 billion VND higher than the starting price.

An auction company has just completed the auction of a batch of assets including 1,606 vehicles of various types, which were evidence and administrative violation vehicles confiscated by the Traffic Police Department - Ho Chi Minh City Police.

According to information from the organizing unit, the lot includes 1,268 motorbikes, 197 three-wheeled vehicles and 141 homemade trailers (not allowed to be registered for circulation). The starting price for the whole lot is more than 1.48 billion VND, with a step price of 50 million VND. This price does not include taxes, fees and related transportation or handling costs.

Of the more than 1,200 motorbikes put up for auction, many still had license plates, chassis numbers, and engine numbers, but were all in a state of severe damage. Authorities valued each motorbike at between about VND370,000 and more than VND1 million.

On the morning of October 3, after only about 30 minutes of online auction, the entire lot of assets was successfully sold with a winning price of more than 3.23 billion VND, about 1.75 billion VND higher than the starting price.

The temporary holding area for violating vehicles is located in Nha Be commune, where the Ho Chi Minh City Traffic Police Department gathers thousands of vehicles before carrying out handling procedures. (Photo: Nam Anh).

Previously, on September 19, Hanoi City Police also organized an auction of a lot of assets that were evidence and means of administrative violations, including 538 three-wheeled and four-wheeled vehicles. Of these, 528 three-wheeled vehicles and 10 four-wheeled vehicles, most of which had no license plates, brands, engine numbers or chassis numbers. The lot of assets was offered with a starting price of over VND1.18 billion and was successfully sold for over VND1.23 billion, a difference of only VND50 million compared to the starting price.

According to experts, organizing the auction of vehicles violating administrative regulations is necessary to recover the value of assets for the State. However, in reality, the process from detention to confiscation and auction often takes a long time. During this time, most of the vehicles are degraded and severely damaged, leading to a sharp decrease in actual value, causing waste.

An officer participating in the auction said that if the procedures were shortened and conducted sooner, the value of the assets could be much higher, reducing storage costs and ensuring effective budget collection.

The fact that Ho Chi Minh City successfully sold more than 1,600 vehicles at double the starting price is considered a positive sign. However, to increase efficiency, there needs to be a solution to speed up the process of handling confiscated items, avoiding the situation of leaving vehicles in storage for many years and then auctioning them off when they are severely damaged.

Source: https://dantri.com.vn/kinh-doanh/tphcm-dau-gia-hon-1600-xe-vi-pham-thu-ve-gap-doi-gia-khoi-diem-20251003104453269.htm