Koenigsegg complains Bonhams auction house undervalues One:1 up for sale

Koenigsegg believes that an upcoming auction hosted by Bonhams has undervalued one of its rarest and fastest hypercar offerings, a One:1.
The car was owned by Equatorial Guinea President Obiang Nguema Mbasogo's son, Teodoro Nguema Obiang Mangue, and is one of 11 highly valued supercars seized from him during a raid in Geneva.
According to Motoring Research
, Bonham's estimates the One:1 will sell for between US$1.8 million and US$2.3 million, but that's a heck of a lot cheaper than the US$2.8 million it sold for originally.
Koenigsegg doesn't stand to make any money from the private sale of the supercar, but in a statement to Bonhams, questions why the value was so low, given the rarity of the vehicle.
'In an effort to provide Bonhams all the opportunities to do the right thing, we sent them a draft of this text in advance so they can correct their estimate,' the statement read. 'They did revise their estimate slightly to a figure that is still not even close to proven market value and substantially lower than our firm offers.'
'We at Koenigsegg are not willing to stand by on the sidelines and observe this wrongful and harming behavior without reacting… The question is, why should bidders, who trust Bonhams's judgment, not be given a fair chance to jump on the opportunity, instead of stopping their bids short, based on information Bonhams knows is incorrect?'
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There are only six examples of the One:1 in the world, so we understand why the Swedish brand is upset Bonhams would set such a low estimate for it, which serves to limit the value in the minds of the buyer.
All proceeds from the sale will go to benefit Equatorial Guinea, which Mbasogo ruled for over 32 years while infamously enriching himself and keeping the country in poverty.
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