JSC «KTZ Express», part of the national company «Қазақстан темір жолы» (KTZ), has put two Lexus LX 570 cars up for sale at prices significantly above market value. The lots were published on the state electronic platform E-Qazyna.
According to Kursiv.media, the following items were put up for auction:
- Lexus LX 570 (2019 model, white, registration number 103RR01) — starting price 184.2 million tenge, minimum price 61.5 million tenge.
Lexus LX 570 (2014 model, black, registration number 109RR01) — starting price 102.3 million tenge, minimum price 34.3 million tenge.
It is noted that the cars are in working condition, but no information about modifications, unique features, or low mileage that could justify the high valuation has been provided.
The auction will take place on 24 July using a descending price system — the price will be reduced from the stated amount to the minimum. According to valuation reports, the market value of similar cars from the 2019 model year is 50 million tenge, and for the 2014 model — 30 million tenge.
For comparison, according to car sales websites, a similar Lexus LX 570 from 2014 costs 30–35 million tenge in Kazakhstan, while the 2019 version costs 55–60 million tenge. A new Lexus LX 600 in its basic trim can be purchased for 80–90 million tenge.
Thus, the starting prices set by KTZ Express are two to three times higher than market rates and are even comparable to the prices of new premium cars.
It is worth recalling that the Agency for the Protection and Development of Competition (APDC) department in Astana previously identified instances of monopolistically high pricing by JSC «KTZ EXPRESS». It was reported that the company inflated prices for freight forwarding services for military transportation in 2021.