A collection of seized supercars including ultra-rare models like the Lamborghini Veneno Roadster and Koenigsegg One:1 were sold at a Bonhams auction in Cheserex, Switzerland, on Sunday.
The cars, 25 in total, previously belonged to Teodoro Nguema Obiang Mangue, the son of Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, but were seized by Swiss authorities in 2016 as part of a wider investigation by French authorities over Mangue's alleged misappropriation of state funds. He was eventually found guilty of embezzlement following a French trial in 2017.
The Veneno Roadster, one of 12 Venenos sold to the public (three coupes and nine roadsters), fetched the highest bid, with the final sales figure coming in at $8.32 million, including commission. That's a staggering price, even with the car's extremely low mileage of 201 miles.
A controversial sale was that of a Koenigsegg One:1 whose final bid came in at $4.6M. Bonhams had estimated the car's value at between $1.8M and $2.37M, which prompted Koenigsegg to release a statement that the car's value based on previous sales was double the estimate.
Another interesting result was the sale of a Ferrari Enzo for $3.1M, which was substantially higher than the $2.2M that a Ferrari LaFerrari in the collection commanded. Traditionally, it's been the other way around.
Other highlights included an Aston Martin One-77 ($1.5M), Bugatti Veyron ($1.3M), McLaren P1 ($1.3M) and a Porsche 918 Spyder ($1.5M).
Seized supercars of Teodoro Nguema Obiang Mangue - Image via Bonhams
Most of the bidders on the cars were anonymous, though one of the bidders told Reuters in an interview published Monday that several of the cars were bought by a single collector in the Middle East.
Proceeds from the sale of the cars will be used to find social programs in Equatorial Guinea.
This isn't the first time a seized collection of cars previously owned by Mangue were sold at auction. A collection that included two Veyrons, a Ferrari Enzo and a Porsche Carrera GT were seized by French authorities in 2011 and sold in 2013 for $4 million. Hopefully he's learned his lesson this time.