Finance Secretary Frederick Go on Wednesday led the turnover of more than ₱205 million in proceeds from the Bureau of Customs (BOC) following the successful negotiated sale of two forfeited Bugatti Chiron luxury vehicles.

The proceeds, totaling ₱205.016 million, will be remitted to the Bureau of the Treasury (BTr) to augment government revenues.

"After nearly two years, we have finally completed the sale of these forfeited vehicles, ensuring that every asset under our stewardship is properly managed and generates value for the Filipino people," Go said.

The negotiated sale was conducted on March 26, 2026, with Elite Garage Corporation emerging as the sole qualified bidder, offering ₱205.016 million for the two supercars.

The sale came after five public auctions held between September 2024 and February 2026 failed due to the lack of qualified bidders, followed by an earlier negotiated sale that also drew no offers.

Of the total proceeds, ₱101.508 million came from the sale of the 2017 Blue Bugatti Chiron, while ₱103.508 millionwas generated from the 2019 Red Bugatti Chiron.

The Department of Finance said the disposition converted previously idle forfeited assets into public funds while eliminating government expenses for storage and maintenance.

"The turnover of these forfeited assets shows that our work does not end with seizure or forfeiture. Ang tunay na layunin natin ay tiyakin na ang mga nakukumpiskang smuggled goods ay nare-recover at naco-convert into public funds para sa mga pampublikong proyekto," BOC Commissioner Ariel Nepomuceno said.

The BOC said it regularly publishes auction and negotiated sale notices and livestreams its asset disposition activities to promote transparency and accountability.