Switzerland auctioned off fancy cars seized from Equatorial Guinea's VP

Switzerland auctioned off fancy cars seized from Equatorial Guinea's VP

- A collection of supercars seized from Equatorial Guinea's vice-president, Teodorin Obiang Nguema, was auctioned off in Switzerland

- The cars were taken by the Swiss government after Obiang was charged with money laundering and misappropriation of public property

- The collection was tagged a super auction and did not have a minimum reserve price

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A collection of supercars that were seized from the son of Equatorial Guinea's president, Teodorin Obiang Nguema, was sold off in Switzerland at an estimated price of $18.7 million (about R273 400 000).

Reuters reports that Swiss prosecutors had in February charged Teodorin with money-related crimes and misappropriation of public property.

Among the cars sold off were Ferraris, Lamborghinis, Bentleys and Rolls-Royces owned by the vice-president, who is also the minister of agriculture. It was displayed at Bonmont Golf and Country Club in Cheserex ahead of the auction on Sunday, 29 September.

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Among the cars is the popular 2014 Lamboghini Veneno Roadster.

Among the cars is the popular 2014 Lamboghini Veneno Roadster.
Source: UGC

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The chairman of the Bonhams Motoring Department, James Knight, said that it was a great thing that they have a collection of cars from Geneva.

The collection of cars were tagged as a supercar collection and as such did not have a minimum reserve price in the bidding. They have also drawn interest from different places like Europe, the United States, the Middle East and the Far East.

Most priced among the cars was a white 2014 Lamborghini Veneno Roadster which has the initials TNO and is valued at 5.2 million to 6.2 million Swiss francs.

“It is the first time such a car is being offered at public auction. Buyers want a car to have had few owners, a service handbook and a low odometer reading,” he said.

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Source: Briefly.co.za

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