Trinh Van Quyet’s Rolls-Royce fails to sell, twice

Auction house Minh Phap said Wednesday that no one put down a 20% deposit for the VND9.7 billion ($390,076) gold-plated Rolls-Royce Ghost, even though its starting price has been lowered by 3% from the first auction.

Minh Phat has shared the result with lender BIDV, the legal owner of the car, which is a collateral for a FLC Faros debt.

The bank will decide whether there will be a third auction.

FLC Faros owed BIDV nearly VND186 billion in debt and interest by the end of February. The car’s starting price accounts for only 5% of that amount.

Another Rolls-Royce of Quyet’s is set to be auctioned on Nov. 15 at the starting price of VND28 billion, and a yacht of FLC on Nov. 21 from VND34.7 billion.