Colombia: Three Ferraris of a drug dealer are up for auction

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Three Ferraris seized from a drug dealer will be auctioned in the coming days in Colombia, with the proceeds going to landless villagers.

The three luxury cars belonged to Juan Jose Valencia, known by the nickname “The Hawk”, one of the leaders of the Colombian drug cartel Clan del Golfo. A lover of expensive cars, he owned around 30 top models. Valencia was arrested in 2021 and extradited to the United States last July.

The auction is scheduled for October 24 and 25, according to Jaime Andres Osorno, vice president of the Special Assets Company (SAE) – a government agency responsible for managing goods seized from drug traffickers.

No starting price has been set and bidders will have to send their bid in a sealed envelope, Osorno said, adding that the auction could be canceled if bids are not deemed attractive.

According to appraisers, the three Ferraris — one gray, one white and one red — are worth about $400,000 each.

RES-EMP

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