Bulletproof Mercedes from Billionaire's Fall Sells for $63,000

The virtual gavel fell on a four-year journey this week, concluding the liquidation of a luxury asset from a fallen billionaire's empire. A 2018 Mercedes-Benz Maybach S650, once the prized chauffeured conveyance of Miles Guo, sold for $63,000 at a bankruptcy auction.

The sale was conducted entirely online, requiring no physical inspection from the winning bidder. This modern approach to asset liquidation highlights how technology has transformed the bankruptcy process, allowing buyers to acquire high-value items from the comfort of their computers.

From a Manhattan showroom to a New Jersey tow lot, and finally to a Connecticut auction house, the car's journey mirrors the complex legal and logistical efforts required to untangle the assets of a bankrupt individual.

The Mercedes-Benz was originally purchased new in 2018 for $192,000 at a dealership just south of Lincoln Center in Manhattan. For Miles Guo, who declared Chapter 11 bankruptcy in early 2022, this vehicle was considered one of his more modest rides.

Court records indicate that Guo's most expensive vehicle was a custom Bugatti Chiron, purchased for $4.4 million. The Maybach S650, while luxurious, was a relative economy car in his extensive collection.

Guo was arrested a year after his bankruptcy filing and remains in jail pending sentencing for a $1.3 billion fraud and racketeering-conspiracy scheme. His assets, including the Mercedes, have been under scrutiny by bankruptcy trustees for years.

The four-door sedan was built for both luxury and safety. Auctioneer Mike Knudson, who runs The Hamilton Group in Clinton, Connecticut, provided a tour of the vehicle's amenities before the sale.

"There's a mini-bar back here," Knudson said, demonstrating the mini-fridge located between the rear seats. The car also featured a sophisticated aroma therapy system, complete with a jar of Agarwood scent placed in a recessed holder called a "flacon" in the glove compartment.

Beyond the luxury features, Guo had paid extra for a German company to install armor plating and bulletproof glass throughout the vehicle. The thick glass was a noticeable feature, adding significant weight and security to the luxury sedan.

The auction was hosted on BidSpotter.com, a platform that allows potential buyers to inspect vehicles virtually. The listing included 49 photographs and a two-minute video showing the car's engine starting, the trunk opening, and a tour of the lot.

Despite the detailed online listing, only one person—the reporter documenting the story—showed up for the in-person inspection day. However, online interest was fierce. Twenty-four hours before the auction closed, more than 80 bidders had pushed the price to $38,000.

In the final five minutes, bidding accelerated in $1,000 increments. The car, which had just 21,000 miles on the odometer, eventually sold to its 115th bidder. The final price of $63,000 aligned closely with the Kelley Blue Book value of $62,400 for a standard 2018 model, not accounting for the custom armor.

The sale of the Mercedes is just one small piece of a massive financial puzzle. Guo's bankruptcy debts are estimated to hover around half a billion dollars, meaning the $63,000 proceeds are a drop in the bucket for his many creditors.

Kevin Tung, a lawyer for nine China-based contractors claiming Guo owes them a combined $100 million, noted the insignificance of the sale relative to the total debt. "One Mercedes-Benz won't help anything," Tung said. "That's small potatoes."

The vehicle had been listed as an asset held by a Hong Kong-based shell company in the name of Guo's son and briefly, his chauffeur. After Guo's arrest, the car sat abandoned in a New Jersey tow lot before being moved to Connecticut for auction.

The $63,000 sale of a bulletproof Mercedes illustrates the efficiency of modern bankruptcy auctions. Assets can be liquidated quickly to a global pool of buyers with just an internet connection.

Auctioneer Mike Knudson set the opening bid at a strategic $20,000 to engage bidders, confident that the market would drive the price to fair value. This approach minimizes risk and ensures transparency in the process.

For the anonymous buyer, the vehicle represents a piece of automotive history and a unique security feature. For the bankruptcy estate, it is one step toward resolving the complex financial fallout of a billionaire's downfall.