x Abu Dhabi, UAESaturday 20 January 2018

Car auction raises Dh580,000

Impounded cars raise 45 per cent more than predicted.

DUBAI // The Dubai Courts' first online auction of impounded vehicles garnered nearly Dh600,000 in sales, officials said yesterday.

Last month's event, which was conducted in association with Emirates Auctions, earned about 45 per cent more than the predicted return, according to Dubai Courts.

"The vehicles were expected to bring a return of Dh406,000," said Yaqoob Abdullah, head of the Impound and Liquidation section at Dubai Courts. "We found a return of over Dh580,000 through e-auctioning last month."

The cars were collected from people who failed to pay their bank loans, people whose assets were liquidated by the courts, and liquidated companies.