Finance Secretary Frederick Go led the turnover Wednesday of more than P205 million generated from the sale of two forfeited luxury supercars seized by the Bureau of Customs (BoC).

The funds stem from the negotiated sale of two Bugatti Chiron vehicles, which concluded after nearly two years of failed public auctions.

“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 at the Port of Manila turnover ceremony.

The proceeds will be remitted to the Bureau of Treasury to bolster national revenues, according to finance officials. The sale brought in P101.5 million for a 2017 blue Bugatti Chiron and P103.5 million for a 2019 red model.

Elite Garage Corp. acquired both vehicles for a combined P205.016 million during negotiated sale proceedings in March.

The transaction followed five failed public auctions between September 2024 and February 2026 due to a lack of qualified bidders, as well as one unsuccessful negotiated sale effort.

Customs Commissioner Ariel Nepomuceno said the sale reflects the agency’s commitment to converting smuggled goods into public resources while ending storage and maintenance costs paid by the government.

“Our real goal is to ensure that seized smuggled goods are recovered and converted into public funds for public projects,” Nepomuceno said, adding that the agency routinely livestreams auctions and negotiated sales to maintain transparency.