After nearly 10 years of implementing the Law on Auctioning Assets, many positive results have been achieved. The number of public asset auctions has increased, and many auctions have been successfully organized with the value of assets sold exceeding the starting price by many times, contributing significantly to the state budget. This has made a positive contribution to the management and use of public assets; and has helped create resources for investment, infrastructure construction, and socio-economic development at the local level. Alongside these achievements, the Ministry of Justice acknowledges that auction activities also reveal limitations and negative obstacles. In particular, the situation of "collusion, price manipulation," "dummy bidders," "brokers, threats, and coercion" occurs quite subtly and tends to become increasingly complex, making it difficult for ordinary inspections and audits to detect and handle without the involvement of the police with specialized professional methods (signature analysis, audio recording, investigation).
In reality, there have been numerous cases of bidders abandoning their deposits after participating in auctions, particularly in real estate auctions. Some participants have even driven prices significantly higher than market value, causing public outrage. In these cases, most bidders aim to artificially inflate prices to create market hype or engage in unfair competition, but after winning, they fail to fulfill their payment obligations and forfeit their deposits. This "abandoning of deposits" has significant consequences, including market disruption, compromised transparency and fairness in auctions, delays in asset utilization, and losses to the state budget, as well as wasted time and resources on re-auctions. Furthermore, it directly impacts the legitimate rights and interests of those who genuinely need the property.
To address the issue of auction participation for profit, the draft law adds a provision stating that in cases of direct verbal or direct voting at the auction session, if a participant has submitted a valid application and deposit and attended the auction, they will be considered to have agreed to purchase the asset at the starting price. This regulation aims to curb the activities of "brokers," "organized crime," and individuals who do not genuinely intend to buy but still participate in auctions for profit.
In addition, the draft Law adds a provision to increase the deposit rate in land use right auctions for allocating residential land to individuals, based on the legalization of the provisions of Government Resolution No. 66.11/2026/NQ-CP on handling difficulties and obstacles in land use right auction activities as prescribed by the Land Law.
Furthermore, based on the codification of the provisions of Resolution No. 66.11/2026/NQ-CP, the draft Law has added a provision prohibiting individuals who win the auction but "abandon their deposit" from participating in land use right auctions. Accordingly, individuals who win the auction for land use rights in cases where the State allocates or leases land according to the law on land, or the right to exploit minerals according to the law on minerals and geology, and who violate their obligation to pay the winning bid amount, leading to the cancellation of the auction results, will be prohibited from participating in auctions for that type of asset for a period of 6 months to 5 years, depending on the nature and extent of the violation.
Therefore, if the winning bidder violates the obligation to pay the winning bid amount, leading to the cancellation of the auction results, in addition to penalties regarding the deposit, the provision of "banning participation in land use right auctions" as proposed in the draft law is considered very strict. This penalty is far more deterrent than purely financial measures. When faced with the risk of being banned from participating in auctions for a certain period, individuals will have to carefully consider their financial capacity and true intentions before bidding, avoiding the situation of "bidding first and then deciding later," or the mentality of bidding and then "dropping out" if they don't like it. To avoid risks, adding regulations to increase the deposit amount and banning participation in auctions for those who "cancele their deposit" is essential.
In addition, authorities need to tighten the conditions for participating in auctions, strengthen supervision, and ensure transparency of information to guarantee that auction activities are fair, efficient, and in accordance with the law.
Source: https://daibieunhandan.vn/ngan-chan-truc-loi-trong-dau-gia-10418219.html
![[Photo] General Secretary and President To Lam presides over the meeting to approve the draft report on the results of the second inspection by the Politburo of the Standing Committee of the Hanoi City Party Committee.](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2026/05/26/1779789811432_a2-bnd-4430-9620-jpg.webp)
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