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Seized Ferrari fetches record $1.09 million in Japan public auction
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TOKYO (Kyodo) -- A Ferrari seized from a delinquent taxpayer has fetched an online public auction record of 171 million yen ($1.09 million), Japan's National Tax Agency said Friday.
The Regional Tokyo Taxation Bureau put the gunmetal-grey F12tdf, with a travel distance of about 1,500 kilometers, on the auction block with a starting price of 71.3 million yen, according to the agency.
The bureau auctioned off another Ferrari earlier this year for approximately 94.3 million yen. That time, the minimum bidding price of the Italian luxury car was 56.8 million yen.
Under the national tax collection law, an internet auction is among the procedures for selling seized assets to collect unpaid taxes.
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