25 exotics worth $13M headed to auction
The auction will take place this fall in Geneva.
The Lamborghini Veneno, Ferrari LaFerrari, Koenigsegg One:1, McLaren P1, Aston Martin One 77 and Bugatti Veyron are all low-production exotics that are rarely seen, let alone altogether in one big group. But that's just the group that will be on display during a no reserve auction this fall.
In total, auction house Bonhams will auction off 25 high-end cars; those listed above plus cars from Porsche, Maserati and Mercedes-Maybach. The auction -- scheduled for September 29 in Geneva, Switzerland -- is expected to generate more than $13,000,000.
The rarest car in the collection is the Koenigsegg One:1, of which there were only six ever made. However, the slightly more common Veneno (Lamborghini built a total of nine to celebrate its 50th anniversary) is expected to bring the most money with an estimate of $5.6 million.
The 25-car lot was the collection of vice president of Equatorial Guinea, Teodoro Nguema Obiang Mangue. Geneva police seized the collection from the city's airport in 2016 after Swiss authorities launched a criminal case against Obiang for corruption.
According to CNN, Obiang, whose farther has been president of oil-rich Equatorial Guinea since a coup in 1979, has a lengthy history of money-related run-ins. Last year authorities in Brazil seized $16 million worth of cash and watches from a group traveling with Obiang. The year before that, French officials popped Obiang for using money siphoned from his country to purchase luxury cars, a private jet and a mansion. And in 2016 he paid $30 million to settle an embezzlement charge with the United States.