Auction Blog

Online auctions to sell assets seized by tax office APEH from individuals who owe back taxes or other liability have increased the income of the state budget by Ft 200 million (over €840,000) since January, writes index.hu.

The new online system is seen as a boon to the APEH because of the flaws association with its offline, “traditional” auction, in which collusions between bidders often held down prices. This has meant a jump of nearly 75% for some prices.

During the first half-year that the APEH’s online auction site has been in operation, 237 auctions were held, and the goods were sold at an average of 72% of their estimated value. APEH considers this as a success, and they plan to introduce auctions for real estate, after some necessary regulatory changes are made.

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Hungarian seized goods auctions

Turkey will auction 65 sites where underground heat can be used to generate power or supply warm water, Energy Minister Hilmi Guler said on Monday.

The government will invite bids in late September or early October for six areas in southwestern Turkey, where geothermal power generation could reach a total of 800 million kilowatt-hours a year.

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Turkey to auction geothermal sites

LONDON - Hot on the heels of The Orientalist Sale at Sotheby’s New York in April - which realised $8.7 million and saw Jean- Léon Gérôme’s Rüstem Pasha Mosque, Istanbul sell for $1.9 million - Sotheby’s London is now delighted to announce that it will present an impressive range of Turkish, North African and Middle […]

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The Orientalist Sale at Sotheby?s to be Led by Osman Hamdy Bey?s A Lady of Constantinople