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The Bureau of Customs completed the negotiated sale of two seized Bugatti Chiron units valued at a combined P205 million
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A blue 2017 Bugatti Chiron and red 2019 Bugatti Chiron were confiscated in February 2024 due to missing import documents
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Five public auction attempts between November 18, 2024 and early 2026 failed before the negotiated sale route was pursued
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Sole participating offeror Elite Garage Corporation offered P101,508,000 for the 2017 blue Chiron and P103,508,000 for the 2019 red Chiron
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The sale is subject to approval by the Finance chief
The Bureau of Customs (BOC) has completed the negotiated sale of two seized Bugatti Chiron units valued at a combined P205 million, after multiple failed public auctions.
The 2017 blue Bugatti Chiron and 2019 red Bugatti Chiron had been in BOC custody since February 2024, when they were seized for lacking proper importation documents, the agency said in a statement.
After remaining idle through five unsuccessful bidding rounds — the first held on November 18, 2024 — the bureau shifted to a negotiated sale process.
Elite Garage Corporation emerged as the sole participating offeror, submitting eligibility documents and sealed financial bids for both lots. The BOC Committee on Negotiated Sale evaluated the submissions, confirmed the company’s qualifications, and opened the financial offers.
Elite Garage offered P101,508,000 for the 2017 model and P103,508,000 for the 2019 unit, and was declared the winning offeror for both.
The negotiated sale remains subject to approval by the secretary of the Department of Finance, pursuant to Customs Memorandum Order No. 26-2020. Upon that approval and finalization, the BOC will remit the proceeds to support national government programs and public services in accordance with applicable laws, rules, and regulations.
The entire proceedings were streamed live on the BOC’s official Facebook page — a transparency measure the bureau said was designed to reinforce public trust in the disposal process.
Customs commissioner Ariel Nepomuceno welcomed the outcome after what he described as a protracted disposal process. “These units had already gone through several auctions, so it is significant that they were finally sold through a negotiated sale. This means they are no longer idle assets — they are now generating value for the government and the public,” he said.
He added: “At the same time, the Bureau continues to strengthen its border protection efforts to ensure that all goods entering the country are properly accounted for and compliant with existing laws and regulations.”
The disposal aligns with Ferdinand Marcos Jr.’s directive to speed up the effective use of government assets and boost revenue, BOC said.
