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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