{"id":144535,"date":"2016-11-25T12:05:32","date_gmt":"2016-11-25T10:05:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=144535"},"modified":"2016-11-25T12:05:32","modified_gmt":"2016-11-25T10:05:32","slug":"this-luxury-house-just-smashed-the-auction-record-in-south-africa-bought-by-a-billionaires-daughter","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/144535\/this-luxury-house-just-smashed-the-auction-record-in-south-africa-bought-by-a-billionaires-daughter\/","title":{"rendered":"This luxury house just smashed the auction record in South Africa – bought by a billionaire’s daughter"},"content":{"rendered":"

A winning bid of R90 million on a super luxury Clifton villa on Thursday, smashed South Africa\u2019s residential auction price record by more than R30 million.<\/p>\n

The property was sold to Clare Wiese, daughter of billionaire, Christo Wiese<\/a>.<\/p>\n

This according to Joff van Reenen, director and Lead Auctioneer for The High Street Auction Company that in the same sale auctioned off 31 lots of property from Clifton to Ballito to the Magaliesberg, with a total value of more than R500 million.<\/p>\n

Van Reenen said the previous residential record bid was on a house in Sandhurst, Johannesburg, which was for R54 million.<\/p>\n

Nettleton Road is priced as South Africa’s richest street<\/a>, attracting an average sale price of R45 million.<\/p>\n

Van Reenen\u00a0said that after an accelerated marketing campaign in conjunction with Lew Geffen Sotheby\u2019s International Realty, the bank-instructed Clifton sale of the Nettleton Ridge house provoked \u201clive responses\u201d from 29 countries, with more than 5,000 views of the house on their company website prior to the sale.<\/p>\n

He\u00a0said Thursday\u2019s auction of the Clifton house to a certain extent corrected the market in the area. \u201cThe house was previously for sale for R150 million and not even buyers with high value foreign currency to spend were prepared to consider that price.<\/p>\n

\u201cIf you market your property at the correct asking price for the area and the current market conditions you will find a buyer, as this auction has just demonstrated,” he said.<\/p>\n

Van Reenen noted that Wiese “is someone who lives in Clifton and wants to stay there, so the property should remain in South African hands.\u201d<\/p>\n

\"Nettleton<\/p>\n\n\t\t