On October 10, the Police Department of Hong Linh Town (Ha Tinh) reported that the person who won the auction for 32 used motorcycles in July has withdrawn their deposit.
The reason given by this person is the lack of financial ability to complete the payment. Currently, the local police are in the process of re-auctioning this batch of assets.
Prior to that, at the end of July, the Police Department of Hong Linh Town collaborated with Hong Linh Auction Joint Stock Company (based in Ha Tinh City) to organize an auction for 32 used motorcycles, which were confiscated as evidence and administrative violations and transferred to the state treasury.
The starting price for the 32 used motorcycles was 68.3 million dong. Each bidding increment was 500,000 dong, with a deposit of 10 million dong.
The auction session proceeded normally with the participation of 123 people. Initially, the 32 motorcycles were bid up to 500 million dong. The second round reached 1.2 billion dong, the third round went up to 5 billion dong, and in the final round, a person from Thua Thien – Hue province offered a price of 6.8 billion dong, 100 times the starting price.
At that time, a representative from Hong Linh Auction Joint Stock Company stated that the auction price of the used motorcycles at 6.8 billion dong was significantly higher than its actual value.
The value of these 32 motorcycles only reached a little over one hundred million dong, so it is unlikely that someone would pay 6.8 billion dong to buy them. Such high bidding could be attributed to people deliberately competing and driving up the price, and they may be willing to withdraw their deposit if they win the auction.
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