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Old 23rd July 2019, 13:56   #1
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Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Hi All,

came across this article on rushlane where they are stating that they are going to auction some of unsold inventory of benelli and Hyosung bikes, owned by DSK group.

Quote:
With DSK handing over the reins of its Hyosung and Benelli businesses last year, there’s still some business that needs to be completed. Union Bank of India is in the possession of 47 Benelli and Hyosung motorcycles along with the manufacturing plant. These will now be auctioned online.

Interestingly, the bikes listed include quite a few that weren’t retailed in India. It does however offer an insight into potential product plans DSK had for both brands in India. There’s a few Benelli 150cc bikes, 125cc scooters and 150cc scooters on the list.

Prior to DSK winding up business, in its heydays the company was also prepping to introduce the Keeway brand in India. The long list of bikes for auction include a couple of Keeways –Keeway Dorado 250, 202, RKS 150 Sport, and Blackster. A Hyosung GV250 Aquila, and Hyosung 250 Exiv are on the list.
Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles-hyosungbenellibikesauctiondskbankrecovery1.jpg

Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles-hyosungbenellibikesauctiondskbankrecovery2.jpg

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Old 24th July 2019, 08:13   #2
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Any potential bidders should keep in mind that 2-wheelers that aren't homologated / approved for sale won't get a registration certificate. Translated = you can't ride them on public roads.

The Union Bank better offer fatter discounts, else this stockpile isn't going anywhere.
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Old 24th July 2019, 09:36   #3
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Looking at the reserve price, I don't think even 1 bike will sell.

Pramod

Last edited by manson : 25th July 2019 at 07:47. Reason: Typo.
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Old 24th July 2019, 09:44   #4
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Those Reserve prices are completely outlandish for all the bikes except the Black TNT 600's. If Union Bank wants to recoup some of their losses, they might as well peg those bikes down at prices where they can be bid for.
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Old 24th July 2019, 10:22   #5
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Those are White Elephants. Good luck hunting for Spares.

I had an Impulse.. I got it knowing well that its been discontinued. But with Hero Presence across the country, I thought how difficult it could be getting spares. I was wrong. Finding even the simplest and basic spares was difficult.

Had to sell off the bike.

Last edited by payeng : 24th July 2019 at 10:24.
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Old 24th July 2019, 10:28   #6
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Quote:
Originally Posted by GTO View Post
Any potential bidders should keep in mind that 2-wheelers that aren't homologated / approved for sale won't get a registration certificate. Translated = you can't ride them on public roads.

The Union Bank better offer fatter discounts, else this stockpile isn't going anywhere.
Only for my understanding: If the successful bidder can't ride them in public roads , does that mean they are meant only for racing? I just checked the term "Homologated" in google and it came up with "fit only for racing" kind of explanation.

Secondly, if they are meant only for racing, shouldn't Union Bank auction notice expressly say so?

Last edited by manson : 25th July 2019 at 07:49. Reason: Typos.
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Old 24th July 2019, 10:42   #7
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

In this context , homologation would mean running it through ARAI and VRDE to get the vehicle certified.

It's so typical of Indian banks to put more emphasis on the color , rather than the year of manufacture of the bikes.
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Old 24th July 2019, 11:09   #8
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

What about the models that are already being sold in India and are mentioned in the above list? Would it be good if one wants to buy that if offered at great discount?

e.g. Benelli TNT300 and Benelli TNT600?

Last edited by manson : 25th July 2019 at 07:49. Reason: Typo.
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Old 24th July 2019, 18:47   #9
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

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Originally Posted by drive_angry View Post
What about the models that are already being sold in India and are mentioned in the above list? would it be good if one wants to buy that if offered at great discount?

e.g. Benelli TNT300 and Benelli TNT600?
You should be able to get them registered, but what concerns me is the fact that they are being sold in as-is condition. Now since this is online how would we know that all parts of bike are intact. Pretty risky.
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Old 25th July 2019, 21:12   #10
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

These bike models have sold in very small numbers, if at all, in India. With these ventures winding up fairly regularly it would be very difficult to source spare parts, consumables and accessories. Unless they are bought at half the reserve price, it would be a perilous and costly future with the bike.
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Old 29th July 2019, 11:17   #11
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

Quote:
Originally Posted by roy_libran View Post
Those Reserve prices are completely outlandish for all the bikes except the Black TNT 600's. If Union Bank wants to recoup some of their losses, they might as well peg those bikes down at prices where they can be bid for.

Curious to know, did any of the members participate & what kind of price did the bank manage to get. I am sure a lot of the bikes would have been unsold given the reserve price & the uncertain future of Benelli in India.
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Old 29th July 2019, 16:46   #12
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

4L for a very dated 250 Aquila is ridiculous! Even half that seems too much.
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Old 14th February 2020, 07:39   #13
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

The Sub Divisional Officer, Maval-Mulshi, Pune has called Auction sale of 13 vehicles owned by DSK.
The vehicles are in possession of Asst Commissioner of Police (Financial & Cyber Crime Br), Pune.
The Auction is planned for tomorrow morning at Pune.
Here's the Public Notice-
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Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles-screenshot_20200214071755.jpg  

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Old 14th February 2020, 10:50   #14
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Re: Union Bank to auction DSK's unsold Benelli & Hyosung motorcycles

You better be warned, they are all sold on "as is, where is" basis, meaning you just pay for taking ownership of the vehicle, nothing to do with it's condition or legality of usage.
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