Just 'petty cash' as foreigner snaps up baroness's property

A British businessman bought the Constantia home and the adjacent stand belonging to the infamous Baroness Alexandra von Maltzahn for R17 million and other bidders spent about R1m on everything from jewels to Gucci bags at a Cape Town auction yesterday.

The man, who did not want to be named, made his final bid by proxy over a cellphone at the property, Constantia Heights.

Von Maltzahn and her husband, Victor, who were described by some as being "frightfully grand", amassed massive debt before hastily leaving the country last year. Their Range Rover was found at the airport.

Auction Alliance auctioneer Rael Levitt said they were hoping to get R20m.

"The sale was a reflection of the market - R17m is petty cash for an overseas buyer."

The residence, with breathtaking views, features three bedrooms with en-suite bathrooms, spacious modern living areas, a library, wine cellar, cold rooms, a walk-in closet, an indoor swimming pool, an entertainment area, a sauna and gym, a lift and domestic quarters.

About 400 businessmen, prospective buyers, antique dealers and curiosity seekers milled across the extensive 9 394m2 property billed as "fit for royalty...unrivalled luxury and opulence".

As some of them viewed the property, they spoke quietly about the baroness's reputation. "She must have had money. How else could she acquire all of this," said one, while another said her taste was "kitsch".

Only a few serious bidders made offers during the auction.

After the main property went under the hammer, all the baroness's abandoned belongings were auctioned off individually for a total of about R960 000. These ranged from Prada and Gucci bags, Tiffany jewellery, furniture, antiques, book collections, a ceremonial sword and gym equipment.

The couple were known for throwing lavish parties and rubbing shoulders with high-flyers.

The Star

Posted at 09:12AM Jan 25, 2010 by Editor in Auctions  |  Comments[1]