Renault Kwid 1.0, model similar to the one to be auctioned by Federal Revenue | Photo: Reno/Disclosure
The auction for the Renault Kwid 1.0 has been canceled after the Federal Revenue Service received a bid of R$27.5 million for the model. The auction was held in Ponta Grossa, Paraná. The minimum car value required was R$25,000.
The show took place on 14 July. The same model that got the millionaire’s offer is worth R$ 48.7 thousand, according to the latest data from the Fipe table.
The bidding was carried out by a building materials company based in Philadelphia, Bahia. Revenue estimates that there likely was a typo in the bid offer, which, according to the agency, is not uncommon.
In the same auction, for example, there was a R$1.8 million proposal for two Nintendo video game models. The minimum bid was R$1,800.
The company can be fined
However, the Bahia company can be fined R$5,000 – 20% of the lot’s initial value – and banned from auctions for up to two years.
In all, the auction totaled R$299.7 million, including bids with inflated product values. (Estadão content)
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.