180 vehicles auctioned at Port

Facilitated by Edward Soon & Company, the auction was held at the Port of Port of Spain, Wrightson Road.

When cargo remains unclaimed for more than six months on the Port, the Port has the right to auction the property said lead auctioneer and managing director of the company Edward Soon.

In this case, most of the vehicles were foreign used cars imported from Japan.

Soon, an auctioneer for over 20 years, said the events usually drew a large number of people, especially from the foreign used car sector. He added that the recession did not seem to be affecting turnout.

Bidding started at whatever price the crowd deems fit, he said, and was settled by whomever gave the highest bid. Nonetheless, the price was often much lower than on the open market, Soon said. He said that after the vehicle was sold it was up to the bidder to settle the registration and other legal aspects.

Public auctions of unclaimed goods found left at the country’s ports are governed by the Disposal of Uncleared Goods Act. After all the expenses of the auction are settled, the profits are sent to the consolidated fund.

Newsday attempted to contact the Port Authority for comment but did not get a response.