The cars were seized by Swiss authorities as part of an investigation into the businesses of Mr Obiang.
Lamborghinis, Ferraris and other supercars of Equatorial Guinea’s vice president auctioned in Switzerland
Some luxury cars of the son of Equatorial Guinea's president, Teodoro Nguema Obiang have been confiscated by the Swiss authorities and have been auctioned.
The cars, which included Lamborghinis, Ferraris, Bentleys and Rolls Royces, fetched about $27million in total.
Under a deal will prosecutors, some $23million will go to social projects in Equatorial Guinea, a former Spanish colony where poverty is rife.
One of the most "rare and remarkable" cars, a 2014 Lamborghini Veneno Roadster, was sold for $8.3million to an anonymous buyer.
Lynnie Farrant, the press officer for British auctioneers Bonhams, said it is a new world record price for a Lamborghini sold at auction.
"Cars like this would be the jewel of any collection, but to have them all together is really quite extraordinary,” she said.
The hammer price for the 354km/h (220mph) car, introduced to celebrate Lamborghini's 50th anniversary, was about 50% more than its pre-sale estimate.
An Aston Martin One-77 Coupe, described as an "absolute rocket ship" by the auction house, went for $1.5 million.
Several supercars were bought by an agent for a collector in Dubai, United Arab Emirates, a Swiss bidder told Reuters news agency.
About Teodorin Nguema Obiang
Teodoro Nguema Obiang, 51, is the son of Equatorial Guinea's president, Teodoro Obiang Nguema Mbasogo.
He doubles as the vice-president to his father, who has ruled Equatorial Guinea for 40 years.
Mr Obiang is seen as the heir-apparent to his father, who has been president since 1979.
He served as an adviser to his father and minister for agriculture, before being appointed vice-president in 2012.
Some international media reports have shown that Mr Obiang has drawn criticism for his extravagant spending habits and lifestyle.
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