No Bids in Brazilian Bizjet Tax Auctions

 - November 26, 2013, 2:20 PM

Yesterday’s tax auction by the Brazilian government of a Bombardier Challenger 300 and Dassault Falcon 900 at Viracopos Airport in Campinas, Brazil, failed to garner the minimum bids of $12.85 million and $5.05 million, respectively. Another auction will be scheduled, possibly by year-end, with lower minimums that have not yet been determined. The business jets were seized by the government after they were supposedly imported by Brazilian citizens without payment of customs duties.