Seized Ferrari Hits Auction with Minimum Bid of 71.3 Million Yen

TOKYO, Oct 21 (News On Japan) - The Tokyo National Tax Agency has listed a Ferrari, seized from a tax delinquent, in a public auction, setting the minimum bid at a record high of over 70 million yen ($467,000).

Online public auctions are one method used to forcibly sell assets seized to collect unpaid taxes.

This Ferrari, listed by the Tokyo National Tax Agency, has a minimum bid price of 71.3 million yen, the highest ever for a car auctioned, excluding real estate.

The Tokyo National Tax Agency also auctioned another Ferrari in August, which sold for approximately 94.3 million yen.

There is now considerable attention on whether the Ferrari in this auction will exceed 100 million yen, setting a new record.

Applications for participation must be submitted by the 30th, with bidding scheduled for mid-next month.

Source: ANN

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