Porsche South Africa was the highest bidder on Kyalami racetrack which went under the hammer today,at the High Street Auctions event, for a record R 205 million.
Court gives Kyalami auction the green light.
Today's multi-property auction reflects the increasing trend of buying and selling properties on auction.
Accumulating wealth is a given goal for most people. Yet, the journey to achieve this general and often lofty goal, differs for each person.
The full-house auction held today, Thursday 15 August at Summer Place, Hyde Park, achieved bidding in excess of R 48 million for 13 properties.
It appears the auction industry is still feeling the effects of the Auction Alliance ghost bidding scandal.
High Street Auction's multi-auction event held on Wednesday 19 June at Summer Place, Hyde Park, achieved outstanding and competitive bidding of over R 140 million for 14 properties.
After a lackluster performance in the past four years, the South African property market is now gaining momentum.
Property auction to be held on 27 July 2011 at Summer Place in Hyde Park at 12h00, headlined with a property that will offer a great Investment Opportunity within a mixed use development based in the Urban Edge of East London, also known as the Buffalo City Municipality.

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