Luxury vehicles, goods fetch P33.5 million in negotiated sale
The Philippine Bureau of Customs generated P33.5 million from a negotiated sale of forfeited luxury vehicles and goods. The auction included high-value items like a Ferrari SF90 Stradale and a Lexus LX570.
Why it matters
The sale demonstrates government efforts to liquidate seized assets and return revenue to the national treasury.
MANILA, Philippines - The negotiated sale of forfeited goods and luxury vehicles has generated P33.5 million in revenues, the Bureau of Customs announced yesterday.
The BOC said the public auction on July 30 concluded with accepted offers for seven of the 13 sale lots.
According to the BOC, the bulk of the revenues came from a 2018 Lexus LX570, which was sold at P2 million and a 2024 Ferrari SF90 Stradale (Mansory), which received an offer of P30.1 million.
"I congratulate everyone who contributed to the success of this negotiated sale, and thank you also to our offerors. We will continue to strengthen our processes to further improve our service and deliver greater benefits to the government and Filipinos," BOC Commissioner Ariel Nepomuceno said.
Nepomuceno added that the disposal demonstrates the BOC's commitment to transparent, decisive and efficient customs administration.
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