Only one Gupta mansion sold at auction – at a 40% discount

·24 Jul 2025

Only one of the three infamous properties in Saxonwold formerly owned by the Gupta family was sold at auction on Thursday, with the remaining two drawing some hesitation.

According to Park Village Auctions, which hosted the auction, this was an unsurprising result, given the controversial nature of the lots on offer, as well as valuation questions floating around.

The disposal of three ‘mansions’ are part of the business rescue plan attached to the Gupta-owned Cofident Concept.

The company was involved in litigation with the City of Johannesburg (CoJ), allegedly owing R726,695 in rates and taxes as of 2022.

Other legal challenges ran concurrently, with the company and other Gupta-linked entities entering business rescue proceedings.

The Supreme Court of Appeal ruled that Confident Concept’s assets go up for public auction, including:

No. 5 Saxonwold Drive (Erf 296): A 4,207 m², three-storey estate with eight bedrooms, five en-suite bathrooms, an indoor pool, rooftop patio, and staff quarters. Valued at R21.73 million.

No. 7 Saxonwold Drive (Erf 297): A 1,720 m², hotel-like mansion with 17 en-suite bedrooms, a cinema, beauty salon, and triple-volume foyer. Valued at R36.86 million.

No. 3 Saxonwold Drive (Erf 295): A 3,000 m² single-storey home with three bedrooms, a garage, and staff quarters. Valued at R5.54 million.

According to Park Village Auctions, only No. 3 Saxonwold Drive saw a successful public bid, fetching R3.3 million at auction, subject to confirmation. This is R2.2 million, or 40% off its listed value price.

The group said that this was above expectations.

However, the other two properties did not see success at auction, with only their contents being sold. No. 5 Saxonwold’s contents sold for R100,000, and No. 7’s contents sold for R60,000.

The auctioneers said that the properties were “met with understandable hesitation”, particularly with the municipal valuations and steep rates and taxes attached.

“We had a great deal of interest leading up to the auction, but given the complexity and uniqueness of these properties, it’s not unusual for a transaction of this nature to take more time,” it said.

Park Village Auctions said the business rescue practitioners will likely make the properties available by private tender, which will also provide more anonymity for buyers.

“We will remain in discussions with the interested parties as we progress to the next phase. We are confident that we will realise these properties at realistic market rates,” it said.