What is the starting price of car license plates put up for auction?
Mr. Nguyen Trong Anh, residing in Vinh city, asked: How is the auction of license plates specifically regulated? What is the starting price of a car license plate put up for auction?
Reply:
Article 37Law on Road Traffic Order and Safety2024 regulations onlicense plate auctionas follows:
1. License plates put up for auction are license plates of automobiles, motorbikes and scooters specified in Point c and Point d, Clause 2, Article 36 of this Law, which are made public for organizations and individuals to choose to register to participate in the auction. License plates not selected by organizations and individuals to register to participate in the auction are transferred to the vehicle registration and management system for registration in accordance with the provisions of law.
2. The starting price of a car license plate put up for auction is not lower than 40 million VND; the starting price of a motorcycle license plate put up for auction is not lower than 5 million VND.
3. The deposit must not be lower than the starting price of the license plate type being auctioned.
4. When the registration period for participation in the auction expires and only one person registers to participate in the auction, or there are many people registering to participate in the auction but only one person participates in the auction, or there are many people participating in the auction but only one person bids at least equal to the starting price of a license plate put up for auction, that person is determined to be the winner of the license plate auction.
5. Vehicle registration and license plates of auction-winning vehicles after transfer, exchange, donation, or inheritance of vehicles with auction-winning license plates shall be managed, issued, and revoked according to the provisions of Article 39 of this Law.
6. The amount of money collected from the vehicle license plate auction after deducting the costs of organizing the auction, advertising costs, and auction system administration costs shall be paid into the central budget according to the provisions of the law on the state budget.
7. The Government shall detail this Article; prescribe the price steps, forms, methods, order and procedures for vehicle license plate auctions.
