Auctioneer says publicity & stigma attached to Gupta properties may have deterred potential buyers

JOHANNESBURG - The auctioneers behind the sale of the infamous Gupta compound said the publicity around the properties may have acted as a deterrent to potential bidders.

The state is looking to recoup millions from the Saxonwold properties, which were owned by the Guptas.

Only one of the three properties was successfully actioned on Thursday for R3.3 million.

The two more luxurious properties, one with 17 en-suite bedrooms, remained unsold.

Head of disposal at Park Village Auctions, Graham van Niekerk, said the sale of the more modest property was expected.

"The property that did sell is the easier property and the more attractive property for somebody who wanted to take a home and possibly create something from what was there or to start from scratch. The other properties won't be so easy – they are humungous buildings, they're both in a pretty bad state."

He said he believes there was a stigma attached to the properties.

"I still do believe that there is a stigma attached to the properties and that stigma people do not really want to carry with them into the purchase of a property. I think eventually we will get the properties sold, but I think it will be a lot quieter in the process."