In a move to crackdown on government waste and boost revenue, Italian authorities are putting 151 state-owned luxury cars up for sale on popular online auction site eBay.
The first set of cars to go under the hammer – 2 BMWs, 2 Alfas and 2 Lancias which were once owned by the Interior Ministry – had attracted bids totalling $82,000 by 6.00 a.m. London time on Friday morning, CNBC reported.
At current time, there are still 33 cars available on the site, with the highest offer now for a 2009 BMW 525D at 21,250 euros ($29,246). The lowest available car at the moment is a 2000-year model of the Alfa Romeo 156.
The auction is expected to last for another two weeks. Authorities say that the cars were sale had been deemed “non-essential” for current needs.
According to CNBC, new Prime Minister Matteo Renzi first announced the auction on March 12 as part of a drastic effort to cut costs. In a statement, the government said the sale would be focused on the state's chauffeur-driven vehicles – known as "blue cars" – and added that it highlights the changing relationship between citizens and government.
Related: Matteo Renzi: Italy’s New Hope?
Reportedly two Jaguars from the Justice Ministry and nine Maseratis once owned by the country's Defense Ministry will be listed soon on the site.
Italy’s debt-to-GDP ratio is currently at 127 percent, the second highest in Europe behind Greece.