The term "God Armor" refers to the armor that could be created in certain versions of 1.14 Minecraft which had multiple protection enchants. This makes the armor better than the best possible obtainable armor in survival mode. The ability to make this armor was quickly reverted in the next minecraft version, and no new god armor can be created on the UV server. Since the server was around, but in its infancy, during the period this armor could be created, a number of sets of this armor linger on the server. It is believed that eight sets of this armor exist. Armor of this caliber has been auctioned before, but is usually sold for just over the amount the second richest player is willing to pay, as this is what it takes to outbid them. Effectively, this armor has no maximum price, and has historically been purchased for the highest price possible by a single player.
Demigod armor refers to armor that has more than one protection enchant, but does not have all four, and thus does not qualify as "god armor".