Not April Fool's: BOC has sold the 2 Bugatti Chiron units
Seized Bugatti Chiron units sold by BOC; to generate over PHP 205 million in revenue
Remember when the Bureau of Customs (BOC) seized two Bugatti Chirons in February 2024? Well, after languishing for more than two years in the BOC's custody, the gov't agency has officially announced that they completed the sale of the two Bugattis.
According to the BOC, they have successfully negotiated the sale of the 2017 (painted blue) and 2019 (painted red) Bugatti Chiron units, potentially generating a total revenue of PHP 205,016,000. Initially, both vehicles underwent a public auction on November 18, 2024, but failed to secure any bids. It was only through a recent negotiated sale under the leadership of Commissioner Ariel F. Nepomuceno that both Bugatti Chiron units were successfully sold.
“Naka-ilang auction na rin ang mga units na ito, kaya malaking bagay na sa wakas ay naibenta na sila sa pamamagitan ng negotiated sale. Ibig sabihin, hindi na sila idle assets—nagiging pakinabang na sila para sa gobyerno at sa publiko,” said Nepomuceno.
[These units have already been auctioned several times, so it's a big deal that they've finally been sold through a negotiated sale. This means they're no longer idle assets—they're now becoming a benefit to the government and the public]
The sole participating offeror was Elite Garage Corporation, which submitted eligibility documents and sealed financial offers for both lots. The Committee on Negotiated Sale evaluated the submissions, confirmed the offeror’s qualifications, and proceeded with the opening and assessment of the offers.
Elite Garage Corporation offered PHP 101,508,000 for the 2017 blue Bugatti Chiron and PHP 103,508,000 for the 2019 red Bugatti Chiron, and was declared the winning offeror for both units. However, the negotiated sale is subject to the approval of the Secretary of the Department of Finance, pursuant to Customs Memorandum Order No. 26-2020. Upon approval and finalization, the BOC will remit the proceeds of the negotiated sale in accordance with applicable laws, rules, and regulations to support national government programs and public services.
For full transparency, the negotiated sale proceedings for the Bugatti Chiron units were streamed live via the official BOC Facebook page. Moreover, the sale was conducted in full compliance with customs laws, rules, and regulations, ensuring a fair, transparent, and accountable disposition process.
