Luxury Vehicles, Goods Fetch P33.5 Million in Negotiated Sale

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. The negotiated sale forms part of the bureau’s continuing efforts to ensure the lawful, transparent and efficient disposition of abandoned and forfeited goods in accordance with existing customs laws, rules and regulations, the BOC said. The negotiated sale remains subject to the approval of the Secretary of Finance. If approved, the proceeds will be remitted to the Bureau of the Treasury.