Only One Gupta Saxonwold Property Sold at Auction

(The Post News)- All three Gupta family houses and their contents were placed on auction on Thursday. Auctioneers managed to sell only one of the three properties.

House No. 3 Saxonwold Drive was sold for R3.3 million, although its market value is R5.5 million. The 349m² four-bedroom house carries monthly rates of R6,304.81.

It is reported that House No. 5 Saxonwold received a R4 million bid, which was rejected by Park Village Auctions, as they would not accept bids below R5 million for the 1,547m² property. The house’s market value is R21.7 million, with monthly rates exceeding R19,186.

House No. 7 Saxonwold, valued at R36.8 million, received only one bid of R3 million. The check-roofed property comes with monthly rates of R29,433.78.

It is reported that the contents of House No. 5, which include an indoor spa, were sold for R100,000, while the contents of House No. 7 were sold for R60,000.

Proceeds from the auction will reportedly help settle claims by creditors linked to a Gupta-associated business.

The Gupta family homes gained prominence during the State Capture Commission — a commission established by President Cyril Ramaphosa to investigate allegations that the Gupta brothers had undue influence over state entities under former President Jacob Zuma.

During the hearings, former Chief Justice Raymond Zondo heard that the brothers held meetings in their Saxonwold homes, where individuals were allegedly offered kickbacks in exchange for securing lucrative contracts.