A bulletproof Mercedes-Benz Maybach S650 previously owned by former billionaire Miles Guo was sold for $63,000 at a bankruptcy auction. The online auction concluded with the winning bid placed by the 115th participant.
Guo purchased the luxury car in 2018 for $192,000. He filed for Chapter 11 bankruptcy in 2022 and is currently detained, awaiting sentencing on fraud and racketeering-conspiracy charges involving $1.3 billion.
Lawyers, bankruptcy judges, appraisers, and auctioneers handled the sale. According to a Business Insider report, preparing the vehicle took four years.
The car was initially listed as an asset of a Hong Kong-based shell company. It was registered under the name of Guo's son and briefly under his chauffeur.
After Guo's arrest, the vehicle was found abandoned in a New Jersey tow lot. It was later moved to the Hamilton Group's yard in Clinton, Connecticut, for auction preparation. Public viewings were permitted, but no one attended.
The online auction drew considerable interest. The $63,000 winning bid came in the final five minutes.
The sale price matches the Kelley Blue Book value for a standard 2018 Mercedes-Benz Maybach S650. This valuation does not include the custom armor plating and bullet-proof glass Guo had installed.
Proceeds from the sale will go toward settling Guo's debts. His bankruptcy obligations are estimated around half a billion dollars.