Lessons from Italian luxury car auctions

IN ITALY last week the government had a great idea, which I’m sure our authorities here in South Africa could learn from.

Following an outcry over luxurious spending by government departments, the government put a number of luxury official cars on an eBay auction.

The auction, which involved vehicles being used by high-ranking officials in the defence ministry, the police and the fire brigade raised ß371 400 (R5.4-million) at an average of ß7 142 (R104 825) per vehicle.

But that was just the beginning. On May 16, the Italian government will auction 151 chauffeured cars including eight armoured Maseratis.

Meanwhile, Reuters reports that an original manuscript of Sergei Rachmaninoff’s

Symphony No. 2, thought to have been lost for more than half a century, will be auctioned by Sotheby’s next month.

The pre-sale estimate is between $1-million and $1.5-million (R10.6-million and R15.9-million). The piece was first performed in 1908 in St Petersburg, Russia.

Upcoming local auctions

Today Elliott Brothers will hold an auction at the East London Agricultural Show. The auction starts at the Gonubie Farmers’ Hall at 11am.

On Tuesday Sheard Auctioneers will be selling livestock, implements and loose items at the Willows farm in Cathcart at midday.

On Wednesday Keevy Auctioneers hosts an insolvent estate auction of 4 Reed Street, Bethelsdorp. However, the auction will take place at 52 5th Avenue, Walmer from 11am.

Also on Wednesday, Elliott Bros will host a complete dairy farm dispersal sale at Stainlands Farm, Silvervale Road in the Komgha district. It starts at 11am.

On Friday, impounded livestock will be auctioned at the Tsolo Pound. Cows, bulls, oxen, sheep and horses.