A 1965 Ford Mustang will be among almost 300 lots on the block at the government’s next auction of assets seized from organized crime.
The Institute to Return Stolen Goods to the People (Indep) announced Tuesday that 288 lots will be up for grabs at the ninth “narco-auction,” which will be held in Mexico City on Sunday at Los Pinos, the former official residence of the president.
A total of 188 cars, including several classic cars, will go under the hammer as will six speedboats, trucks and forklifts among other seized assets.
The combined starting price for the lots is just over 13 million pesos (US $642,000). Proceeds of the auction will go toward funding the government’s social programs.
In addition to the Mustang, which has a starting price of just under 330,000 pesos (US $16,300), other notable vehicles to be auctioned include a 2016 GM Sierra Denali pickup truck and a 2014 Ford F-150 pickup. Both vehicles have a starting price of about 250,000 pesos (US $12,400).
A full list of the assets to be auctioned off is available on the Indep website (Spanish only). Entry to the auction will be limited to 150 people to ensure that social distancing recommendations can be observed.
All people who wish to attend must register by November 20. There will be no opportunities to bid for assets by telephone.
The government has already auctioned off a wide range of assets seized from organized crime including jewelry, boats, luxury vehicles, airplanes and real estate.
Indep has distributed millions of pesos in auction proceeds to other government departments since it was created by the federal government last year.
But the fledgling institute is apparently not squeaky clean. Announcing his resignation as Indep chief in a letter to President López Obrador in September, Jaime Cárdenas said that the institute is plagued by corruption, asserting that officials stole jewelry in the agency’s possession and manipulated the auctions it held.
Source: Sin Embargo (sp)