Koenigsegg is Angry at Bonhams Over Undervalued One:1

Bonhams wants to put under hammer an assemblage of high-end hypercars that includes an extremely rare Koenigsegg One:1. We think it’s good, there’s a chance for a lucky wealthy person to drive the car home if it’s the vehicle of his dream, especially since the auction will have no reserve price. There’s a problem regarding this, however, that is Koenigsegg ranting over the One:1’s estimated value which they see as being too low.

According to the auction company, this particular One:1 that has just 370 miles on the clock could fetch between $1.8 million and $2.3 million. Of course those are big numbers for most people, but are still far from enough to respect the monstrous “mega car”. Simply put, the sale estimate is “way under market value”, said the Swedish hypercar maker in its recent blog post.

Koenigsegg accuses Bonhams of neglecting the pricing information presented to them, in which appropriate numbers are mentioned as a benchmark for the One:1’s average value based on its factual prices.

Previously, communication had occurred between the two, resulting in a little revision made to the estimated price. But even after that, the figure still can’t make Koenigsegg feel relieved, as it’s “still not even close to proven market value”.

Further lashing out at the international auction house, Koenigsegg claims that Bonhams told them there was a chance to buy the car pre-auction. But when the Swedish company took the chance seriously by submitting “substantially higher” offers, Bonhams changed mind and closed the door.

This makes the hypercar manufacturer very disappointed. Not only were their offers declined, but they weren’t even used as a point of reference to adjust the One:1’s estimated price to the correct level. In the end, Koenigsegg can only view this as “a total lack of interest in providing transparency to the market and is unfair to the seller and the car”.

In total, the assemblage contains 11 ultra-high performance cars that were seized from the Equatorial Guinea’s Vice President Teodoro Nguema Obiang Mangue. Aside from the Koenigsegg One:1, there are also a McLaren P1, Lamborghini Veneno, Bugatti Veyron, and Aston Martin One 77. All proceeds from the auction will be allocated to benefit the territory of Equatorial Guinea.