Ho Chi Minh City has just completed the auction of a property lot including 1,606 vehicles violating administrative regulations. This is the evidence confiscated by the Traffic Police Department (CSGT) - Ho Chi Minh City Police, gathered at the temporary detention area Sha T30 (Nha Be commune).
The initial starting price for this entire asset lot is only over 1.48 billion VND. However, the final result surprised many people when it earned more than 3.23 billion VND, which is 1.75 billion VND higher than the starting price.
According to the auction organizer, the property lot includes 1,268 motorbikes, 197 three-wheeled vehicles and 141 homemade trailers (not allowed to be registered for circulation).
According to the reporter, of the more than 1,200 motorbikes auctioned, many still have license plates, chassis numbers, and engine numbers but are in a state of serious damage. Previously, the authorities valued each motorbike at VND370,000 to more than VND1 million.
In addition, the property also includes 197 damaged three-wheeled vehicles, priced at about VND2.8 million each, along with 141 homemade trailer with an average price of VND670,000/vehicle. All of these vehicles are administrative violation exhibits and do not meet the requirements for registration or circulation.
Experts assess that organizing the auction of violating vehicles is necessary to recover the value of assets for the State.
However, the sad story is that the process of handling the exhibits often takes many years. Leaving the vehicle in storage for too long causes most of the vehicle to deteriorate and be severely damaged, reducing the actual value of the property.
In order to avoid the situation of "allowing vehicles to be stored for many years and then auctioned when they are severely damaged, causing loss of public assets", experts recommend solutions to speed up the handling process from temporary detention to confiscation and auction. Only then will the economic efficiency and strictness of the law be thoroughly improved.
