25 Supercars Seized From Son of Equatorial Guinea President Drive In $18m At Geneva Auction
Following a financial wrongdoing by Teodorin Obiang Nguema, the vice president and likely heir of Equatorial Guinea’s president was stripped of a collection of luxury cars by Swiss justice. In February, Swiss prosecutors agreed to drop charges in return for reparations including the cars and a sum of 1.3 million Swiss Francs.
The confiscated cars were auctioned in Switzerland and are estimated to have brought in over £15.2 million. Seven Ferraris, three Lamborghinis, five Bentleys, a Maserati and a Mclaren were among the cars up for grabs at a Geneva golf club on Sunday.
One of the cars that was present, a white Lamborghini Veneno Roadster alone holds a value of between 4.8m and 5.7m euros ($5.2-6.2m). The car which can reach 220mph is 1 of 9 ever built, made to mark the company’s 50th anniversary and is now in the hands of an anonymous buyer after a £6.8m sale. A yellow Ferrari hybrid valued at 2.4 – 2.6m, an Aston Martin One-77 Coupe (sold for £1.2m) and black 2015 Koenigsegg One-1 (sold for £3.8m) also went under the hammer.
The presence of cars of this sort is always special so to have had them all together is really quite extraordinary. So it’s no surprise the cars gained interest from collectors around the globe.
It’s been reported several of the supercars were bought by just one agent for a collector in Dubai.
Philip Kantor of British auctioneers Bonhams told AFP, “This is an exceptional sale. It’s a private collection of supercars, with very low mileage.”
All money raised at the Geneva auction will be distributed to charities helping the poorest residents of the West African country.