This repossessed Ferrari 458 fetched R3.3m. Picture: PARK VILLAGE AUCTIONS
This repossessed Ferrari 458 fetched R3.3m. Picture: PARK VILLAGE AUCTIONS

Have you ever wondered what goes on at a vehicle auction house and the sort of exotic machinery you can expect to find ?

To take a closer look at this, we were recently invited to attend an auction at Park Village Auctions and it turned out to be quite an interesting experience.

Vehicle auctions are nothing new, but what truly piqued our interest were some of the exotics that were scheduled to be auctioned off. These included a 2013 Ferrari 458 Italia resplendent in its Rosso Red hue and a 2012 McLaren MP4-12C. There was also a 2014 Audi R8 V8 and a 2015 BMW i8.

These are high-end models at relatively bargain prices should you be in the market. For instance, a new Ferrari 458 Italia could easily set you back well over R4.5m, but this 2013 model with a meagre 13,000km on the clock was sold for R3.3m and the bidders were not dilly-dallying, as a deposit of R100,000 needing to be paid by the highest bidder was lodged within five minutes of successfully bidding.

The McLaren with 18,072km on the clock went for R1.95m — a far cry from the R3.2m it cost new. The Audi R8 V8, which cost R1.529m new, sold at the auction for R800,000 and only had 8,860km on the odometer. To put that another way, you would be paying that sort of money for a new Mercedes-AMG 45 hatchback today.

Then there was the BMW i8, which sold for R700,000 and cost R1.755m when new. Yes, that might look like a bargain, but then you look at the mileage covered in a shade under two years, a staggering 102,142km, which means the owner covered over 50,000km a year.

"While more buyers turn to car auctions as a means to pick up quality used vehicles at good rates, there is no exception for supercars and classics either," says Park Village Auctions’ Clive Lazarus.

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