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Billionaire's Armor-Plated Mercedes Sells for $63K Online
17 Jan
Summary
- An armor-plated 2018 Mercedes-Benz Maybach S650 sold for $63,000.
- The car belonged to businessman Miles Guo, who faces fraud charges.
- The auction took place entirely online, attracting 115 bidders.
The armor-plated 2018 Mercedes-Benz Maybach S650, once owned by businessman Miles Guo, has been sold via online auction for $63,000. This marked the culmination of a four-year bankruptcy process for Guo, who declared Chapter 11 in early 2022. The car, originally bought for $192,000, was outfitted with custom armor plating and bulletproof glass.
Guo, currently jailed pending sentencing for a $1.3 billion fraud scheme, had multiple luxury assets, including this Mercedes which was listed under a shell company. After Guo's arrest, the vehicle ended up in a New Jersey tow lot before being transported to Connecticut for auction preparation.
The online auction on BidSpotter.com saw strong interest, with the price rising significantly in the final hour to reach the $63,000 sale price. This figure aligns with the vehicle's Kelley Blue Book value, excluding its specialized security features. The proceeds will be applied to Guo's substantial bankruptcy debts, which are estimated to be around half a billion dollars.
