An auction company has announced the sale of a large batch of confiscated vehicles belonging to HCM City Traffic Police, including 18,565 motorbikes.
The lot also comprises 131 three-wheeled motorcycles, 17 electric motorbikes, 40 electric bicycles, 192 bicycles, a battery and a power booster. All items are used.
The starting price is more than VND 12.11 billion (USD 460,000), excluding value-added tax and costs related to handling, loading and transport.
Bidders must pay a deposit of VND 2.4 billion (USD 91,000) and a registration fee of VND 1 million.
According to the asset inventory, many vehicles still have registration plates, chassis numbers and engine numbers, including models manufactured by Honda, Yamaha and SYM.
However, all have been classified as damaged and will be sold for scrap rather than road use.
The online auction is scheduled for October 23, with bids increasing in increments of VND 100 million. Prospective buyers can inspect the vehicles at HCM City Traffic Police impound facilities during office hours.
In August, two similar auctions successfully disposed of 36,339 confiscated motorbikes.
On August 20, a lot of 8,566 vehicles, including 8,328 motorbikes, sold for VND 5.58 billion, around VND 200 million above its starting price.
The following day, another lot comprising 28,526 vehicles, including 28,011 motorbikes, fetched more than VND 22.47 billion, exceeding its starting price by approximately VND 400 million.
Both lots were sold as scrap.
Industry specialists said auctioning confiscated vehicles helps recover value for the state, but lengthy procedures between seizure, confiscation and disposal often leave vehicles badly deteriorated, reducing their resale value and resulting in waste.