State-owned Ukreximbank is the first in the Ukrainian market to conduct a public sale of pledged property – jewelry made of precious metals and gems – through the OpenMarket electronic trading system (SE SETAM of the Ministry of Justice of Ukraine).
Unique nature of the sale
For a long period of time, the sale of pledged gold jewelry was complicated due to the lack of clear procedures that would allow the sale of jewelry at public auctions. Until 2022, jewelry was redeemed in favor of the state through the State Storage of Precious Metals, but due to a lack of funds in the budget, this process was “frozen”.
In 2022, a new Procedure for the Sale of Jewelry and Other Household Items Made of Precious Metals in the Course of Enforcement of Court Decisions and Decisions of Other Authorities was adopted. The Procedure, approved in February 2022, provides for a number of examinations prior to public bidding to determine the metal sample, determine the characteristics of gemstone inserts, etc.
Ukreximbank is the first bank in Ukraine to carry out all the necessary procedures for the sale of jewelry within the framework of enforcement proceedings, involving the Ministry of Finance of Ukraine and the Central State Assay Control Enterprise.
Thus, within the framework of the enforcement proceedings initiated in accordance with the requirements of the court decision on debt collection in favor of Ukreximbank, for the first time, a lengthy and extremely complicated procedure was completed from the preparation of the act of inventory and seizure of the debtor’s property, namely, jewelry made of precious metals and precious stones to the publication of the relevant announcements on the platform of the electronic system of SE SETAM on the date of the scheduled electronic auction.
The procedure for obtaining the statutory expertise is regulated and complex, but the coordination of the actions of the recoverer and the state enforcement officer made it possible to complete it in the shortest possible time. The property appraisal report, on the basis of which the starting price of the property put up for sale was formed, received by the state enforcement officer, contains references to
– an act of examination of valuables that have been accepted by the Central State Assay Control Enterprise;
– the act of the results of the examination of jewelry by an employee of the Ministry of Finance of Ukraine;
– the act of gemological examination of inserts.
Also, this is one of the rare cases when the Bank manages to successfully foreclose on such type of collateral as goods in circulation, usually when the borrower is recognized as a problematic borrower and the goods are no longer available.
Terms of sale
Lot No. 1
The starting price of the lot is UAH 1,972,320.00.
The total weight of the items is 1,355 kg.
The guarantee fee for participation in the auction is UAH 98,616.00.
The auction date is December 29, 2023.
Register for the auction, detailed description of the auction conditions and the lot itself by following the link.
Lot No. 2
The starting price of the lot is UAH 594 520.00.
The total weight of the products is 482.56 g.
The guarantee fee for participation in the auction is UAH 29,726.00.
The auction step is UAH 11,890.40.
The auction date is December 19, 2023.
To register for the auction, for a detailed description of the auction conditions and the lot itself, please follow the link.
Lot No. 3
The starting price of the lot is UAH 75 330.00.
The total weight of the products is 61.13 g.
The guarantee fee for participation in the auction is UAH 3,766.50.
Auction step is UAH 2,259.90.
The auction date is December 19, 2023.
To register for the auction, for a detailed description of the auction conditions and the lot itself, please follow the link.
The OpenMarket auction (SE SETAM of the Ministry of Justice of Ukraine) is a simple and effective means of selling and purchasing property via the Internet. The online auction has been operating throughout Ukraine since 2014, and the total amount of sales since its launch is UAH 21.4 billion.
