Car auctions draw little interest

Dec 10, 2008 (DVB), Burmese authorities are holding further car auctions today in Rangoon to sell unregistered vehicles which have been seized from their owners, but there is little interest from buyers, according to a car dealer.

Today's auction is the fifth in the space of two months and only 11 cars are being put up for sale.

"They are trying to get the prices up by only auctioning off a small number of cars and starting the bidding low," the dealer said.

Previous auctions have attracted interest from dealers because they included well-known makes and models such as Land Cruisers and the bidding started low, but sales have dropped since then.

Local people also lost interest in the auctions when they found that many of the best cars had already been bought cheaply by people with links to the government before the auctions began.

Reporting by Shwe Aung

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