Mexico obtains over $14 million through auction

The federal government obtained MXN 14,297,200 through the auction of the 145 out of the 292 lots it put up for sale at Los Pinos on Sunday.

Yesterday, Mexican authorities auctioned vehicles, underwear, appliances, cellphones, industrial boots, tableware, construction material, among other things.

If the government had sold the 292 lots, it would have made around MXN 69.3 million.

According to Jaime Cárdenas Gracia, the head of the Institute to Return Stolen Goods to the People (Indep), the resources obtained at the auction will be allocated to two townships: Cuajinicuilapa, Guerrero and Temozón, Yucatán.

The event lasted over five hours. The best offering was a lot of four forklifts, which sold for MXN 1,110,000.

The government also auctioned an amphibious vehicle for MXN 120,000.

However, buyers were not interested in a lot containing 10,000 pieces of underwear. It was valued at MXN 306,400.

During one of his daily news conferences, President Andrés Manuel López Obrador mentioned the underwear lot; however, it didn’t boost the buyers’ interest.

This is not the first time the Mexican government auctions illicit goods and properties.

Previous auctions

In November 2019, Mexico auctioned seized goods for MXN 32.5 million.

The auction included six homes previously owned by Joaquín “El Chapo” Guzmán. Moreover, one of the homes once belonged to Griselda López, his ex-wife and the mother of Ovidio Guzmán, whose failed arrest wreaked havoc in Culiacán in October 2019.

The homes were used by the leader of the Sinaloa Cartel to hide and prevent his arrest and extradition.

The homes were priced between MXN 2 million and MXN 11.2 million.

In July 2019, the government auctioned jewelry and watches formerly owned by drug lords, criminals, and smugglers at Los Pinos. Authorities used the money to build roads in the mountain of Michoacán.

The 148 jewelry lots had an initial price of MXN 21.8 million.

Among the most extravagant pieces was a white gold Piaget watch with an initial price of MXN 3 million; a limited edition Jacob & Co watch with an initial price of MXN 1,200,000; an Oyster Perpetual Date Yacht-Master Rolex watch worth at least MXN 51,000; a Hublot watch at a starting price of MXN 165,000.

The auction also included other jewelry pieces such as necklaces, earrings, bracelets, cuff links, and other pieces, including a white gold bracelet featuring intertwined crocodiles, worth at least MXN 50,000.

Other jewelry pieces include a pair of gold cuff links, a white gold bracelet with 90 rubies, diamond earrings, and more.

Drug lords, smugglers, and criminals seem to favor brands such as Rolex, Piaget, Hublot, Cartier, Gucci, Chopard, Patek Philippe, Harry Winston, Corum, Mido, as well as many custom-made pieces.

In May 2019, authorities auctioned a Lamborghini, other luxury cars, homes, and other assets seized from drug traffickers and at least one former politician.

The proceeds were allocated to two municipalities in Oaxaca, some of the poorest in the country.

The vehicles that were put up for auction included Porsches, Corvettes, Mercedes-Benzes, a Mustang convertible, and a 2007 Lamborghini Murcielago, among others.

The most expensive vehicles were:

1. 2007 Lamborghini Murciélago – MXN 1,472,000

2. 2013 armored Chevrolet Suburban – MXN 1,116,000

3. 2016 Ford Shelby F-150 – MXN 1,216,800

4. 2009 armored Mercedes-Benz S600 – MXN 963,000

5. 2015 armored Chevrolet Tahoe – MXN 708, 300

6. 2016 Chevrolet Corvette – MXN 618,200

7. Volkswagen, last edition – MXN 30,000

8. 1951 Volkswagen - MXN 253,000

The auction also included luxury cars used by government officials from the previous administrations, which include armored Suburbans, Mercedes Benzes, BMWs, Audis, Mini Coopers, classic Mustangs, among others.

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