The Bureau of Customs (BOC) has completed the negotiated sale of two Bugatti Chiron hypercars—a blue 2017 model and a red 2019 model—for a grand total of P205.016 million. The winning offer came from Elite Garage Corporation during the sale held on March 26, 2026.
These cars are not connected to the Discaya luxury vehicles, but were auctioned alongside them during the February round of auctions this year. These Bugattis have actually been with the BOC for more than two years now, having been seized in February of 2024 due to missing import documents.
This might sound crazy, but almost P100 million apiece for the Chirons is actually great value. In the November 2024 auction, where the BOC initially attempted to dispose of these hypercars, their floor prices were set at P300+ million each.
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Understandably, no takers. So during the February auction featuring the Discaya vehicles, their floor prices were slashed by half, placing them at approximately P150 million to start. All things considered, P200 million for both really is a steal.
But what is a negotiated sale? As opposed to the competitive bidding that was used to sell the seized Discaya vehicles, a negotiated sale is a transaction where the buyer and seller directly negotiate and agree to the terms.
Property involved in a negotiated sale is usually sold on an “as is, where is” basis—what you see is what you get. So if those Bugattis have developed any issues over the two years they’ve been sitting in the BOC’s lot, well...best of luck to the buyer.
Proceeds from sales of forfeit goods conducted by the BOC, including the just-sold Chirons, are remitted directly to the National Treasury.
Another round of auctions to sell off another 11 Discaya vehicles in possession of the BOC is set to take place today, March 27, with a total floor price for all vehicles up for grabs adding up to more than P200 million. Headliners include a 2022 Mercedes-Benz G650 V12 Biturbo starting at P79.20 million and a Mansory-modified Ferrari SF90 Stradale starting at P54.30 million.
