Ha Noi Customs auctions 54 used watches

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Illustrative photo.

Specifically, the starting price offered for auction of these watches is VND 97.1 million.

According to the Notice, the criteria for selecting an auction organization are as follows: All property auction organizations must fully meet the criteria specified in Clause 4, Article 56 of the Law on Property Auction dated November 17, 2016 and other criteria are decided by the Hanoi Customs Department.

Specifically, mandatory criteria include: legal records of enterprises (having business lines as required); number of auctioneers (minimum of two auctioneers); operation time (with 3 years or more experience, organizations that have performed auction contracts with Hanoi Customs Department are prioritised); a feasible and effective auction plan (in accordance with regulations); facilities and equipment (with auction room and information system for auction); ability and experience; auction remuneration and property auction costs in accordance with provisions in Circular 45/2017/TT-BTC dated May 12, 2017 and Circular 48/2018 / TT-BTC dated May 15, 2018 of theMinistry of Finance.

Previously, these smuggled watches were seized by North Hanoi customs branch in April 2016. This shipmentwas identified as a violation of State policies on the management of import and export goods (importing goods being movable assets of people on entry).

In June 2017, the Hanoi People's Committee issued a Decision to confiscate infringing goods and transferred them to Ha Noi Customs Department for handling.

In order to have a basis for handling these watches, in March 2019, the Hanoi Customs Department proposed the General Department of Vietnam Customs to organize the auction of the 54 used watches. The auctioned amount will be remitted to the State budget as prescribed.