Seized trucks in Odesa region are being sold under the hammer in a new format

Seven seized Scania, Volvo, MAN, and Mercedes-Benz trucks managed by ARMA have been put up for sale again. This time - in the format of a hybrid Dutch auction.

This is reported in the Prozorro.Sale system.

The starting price remains the same as at the previous auction - UAH 2 million 101.5 thousand, but participation in the new format may attract more bidders. The auction is scheduled for June 2.

The future buyer will also have to pay customs duties in the amount of UAH 3 million 280.7 thousand to the ARMA account. The vehicles put up for auction are in a non-working and partially disassembled condition.

Previous attempts to sell the asset took place on March 28 and April 9 in the format of a three-round English auction, but they failed due to the lack of bidders. Therefore, ARMA has now decided to hold the third auction using a hybrid Dutch auction format, which provides for a gradual reduction in price until the first bidder appears.

What is a three-round English auction?

Even before the auction starts, bidders submit their closed bids without knowing how many bidders there are and what kind of bids they have submitted. The electronic system ranks these bids in ascending order. The bidder with the highest closed bid gets the right to make the last move in each of the three rounds, giving them the best chance of winning the lot.

The auction starts if at least two bidders have registered, but in certain cases, a single bidder can buy the asset at its own price. During the bidding, participants compete in three rounds of 3 minutes each, raising their bids. Upon completion, information about all participants is disclosed.

Ірина Глухова