Swiss govt to auction luxury cars seized from Vice President of Equatorial Guinea

The government of Switzerland is making moves to auction a collection of luxury cars seized from the Vice President of Equatorial Guinea, Teodorin Obiang Nguema.

According to reports, the proposed auction of the super luxury cars numbering up to 25 by the Swiss government is estimated to bring in 18.5m Swiss francs ($18.7m).

“This is an exceptional sale,” Philip Kantor, of British auctioneers Bonhams, revealed. “It’s a private collection of supercars, with very low mileage,” he added.

Among the cars set to be auctioned at a Geneva golf club on Sunday are seven Ferraris, three Lamborghinis, five Bentleys, a Maserati and a McLaren.

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The most expensive lots are a Lamborghini Veneno Roadster, valued at between 4.8m and 5.7m euros ($5.2-6.2m) and a yellow Ferrari hybrid at 2.4-2.6m euros.

The cars were confiscated by Swiss justice after the opening in 2016 of a financial wrongdoing case against Obiang, son and likely heir of Equatorial Guinea’s authoritarian president, Teodoro Obiang Nguema, who has ruled for 40 years. All will be sold with no reserve price.

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