Chinese car sold twice of its price at the auction in Azerbaijan
  • ECONOMY

  • 16:50 12 March 2019

Chinese car sold twice of its price at the auction in Azerbaijan

The State Committee on Property Issues held the next auction on privatization of the state property. A total of 16 orders were given to 7 state-owned property objects at the auction, ONA reports referring to the Committee..

Citizens have privatized the equity stake of the joint-stock company, small state-owned enterprise, non-residential premises and vehicles.

One of the investors took part in an auction of 30% stake of the "Lankaran furniture"  joint-stock company located in T.Ismayilov Street, Lankaran city.

Privatized small state owned enterprise is located at the Pirshaghi district of the Sabunchu rayon of capital city of Baku. The total efficient area of the facility which is previously utilized by public catering service, is 87.9 square meters. State property with a land area of 225.8 square meter was privatized by the auction participant for 7500 manat.

Non-residential area which gives an opportunity to own service premise with little budget is situated in capital city of Baku territory. The total efficient area of the facility which is located at Hovsan district of Surakhani rayon, is 29.9 square meter. A participant of the auction is privatized this state property for 3 thousand manat.

The desire to own a vehicle made an auction of this type of state property competitive among participants.

Thus, the initial auction price of "Cherry Easter" vehicle brand with the release date of 2007 was defined at 1 440 manat. Due to competition among 4 auction participants the initial price was increased two times and winner privatized the vehicle for 3300 manat.

Initial auction price of "Toyota Camry" vehicle brand with the release year of 2009 was set at 10 thousand manat. Winner of the auction who surpass 5 bidders privatized the car by offering 14,600 manats

Simple and modern methods used in auctions organized by State Committee on State Property facilitate easy participation process of the citizens. Alongside with the provision of the development of private sector, successful utilization of the state property after privatization increases interest level of the other investors. Committee will organize the next auction on March 19. Physical and judicial persons who wish to participate in auction can select among 99 state properties. Thus, 57 state properties are small state enterprise, 17 non-residential premises, 2 unfinished buildings and 3 are vehicles. It is enough to visit the official web-site of the committee (emdk.gov.az), and privatization portal (privatization.az) to obtain information about state properties available for auction and making orders online. It is necessary to note that everyone who wish to participate at auction can either come to auction place or join online.

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