Dubai Customs has announced that they will be holding a public auction of valuable items that have not been cleared by travellers. The auction is set to take place on Monday, October 21, at the Dubai Customs Headquarters Mina Rashid, Customs Training Centre, 3rd Floor. The items that will be up for auction include gold and silver, gold jewellery, diamond jewellery, precious and semi-precious stones, and watches. Those interested can examine the goods at Dubai Airports, Terminal 3 (Arrivals) or at the Dubai Customs Museum near Exit 4.
Interested bidders can start examining the goods from Monday, October 7, for a duration of 10 days. The examination timings are from 9 am to 1 pm from Monday to Thursday, and from 9 am to 12 pm on Friday. A non-refundable down payment equal to 10% of the value of the goods to be auctioned must be paid in cash. The successful bidder must collect the purchased goods within seven days after the auction date. Any goods left uncollected within the prescribed period will be forfeited and sold at the next auction. The successful bidder will also have to pay VAT and excise tax on top of the winning bid.
Dubai Customs emphasized the need for bidders to thoroughly assess the condition and quality of the items before placing their bids. It is essential to conduct proper due diligence to ensure that the item’s value matches its price. The authority is encouraging interested individuals to stay up to date with the latest news by following KT on WhatsApp Channels for further updates and information regarding the auction process. The auction presents an opportunity for individuals to acquire valuable items at potentially discounted prices.
There are various types of valuable items such as gold, silver, jewellery, and watches that will be up for auction. These items are typically not cleared by travellers and are accumulated over time. By participating in the auction, bidders have the chance to acquire these items at a fraction of their retail value. Interested individuals can visit the designated locations for examination and assessment of the goods before placing their bids. It is important to ensure that the items are in good condition and are of satisfactory quality before making a purchase decision.
Dubai Customs has set specific guidelines for the auction, including the payment of a non-refundable down payment and the collection of purchased goods within a certain period. Failure to adhere to these guidelines may result in the forfeiture of the goods and their sale at the next auction. Bidders should also be aware of additional costs such as VAT and excise tax that will be added to the winning bid. It is important to factor in these costs when determining the bid amount to ensure a successful and profitable outcome.
The auction presents an exciting opportunity for bidders to acquire valuable items at competitive prices. It is essential to conduct proper research and assessment of the goods before participating in the auction to make informed purchasing decisions. By following the guidelines set by Dubai Customs and staying informed about the auction process, bidders can increase their chances of securing valuable items at the upcoming auction. Interested individuals are encouraged to stay updated with the latest news and developments regarding the auction by following KT on WhatsApp Channels.
