Markets remain concerned about the prospect of recession in the US and geopolitical risks with China
What is clear is that we need to grow the economy so everyone benefits.
Soldiers may only be deployed once ordered by Ramaphosa, who has to inform parliament first
Nomusa Dube-Ncube, Amanda Bani and Mbali Frazer were interviewed for the position of premier on Saturday
A selloff in global tech stocks continues to hammer its Vision Fund’s portfolio of investments
Potentially disastrous effects of free inflow of dumped chicken leave small farmers at risk
Transnet, Telkom and Eskom estimate that thieves and vandals cost them a total of R7bn a year due to metal theft
The vessels carrying corn and soybeans departed on Monday, take the total to ten since the first ship sailed last week under a deal with Russia to unblock Ukrainian grain exports.
Every time All Black coach Ian Foster fronts the media, he presents it with denial, not truth and honest appraisal
Comprehensive report shows one in eight people had lingering symptoms
A rare 1985 Alfa Romeo GTV6 3.0 sold for R1.1m at an auction hosted by Johannesburg-based Creative Rides on December 4.
After a frenetic bidding war between local and international buyers, the pristine two-door coupé, believed to be one of only 40 remaining, went to an unnamed local buyer. The auction, held at Creative Rides’ classic-car dealership in Bryanston, attracted about 15,000 online bidders.
The locally developed GTV6 3.0 is arguably the most revered Alfa Romeo in SA, and was bred for the track in the early 1980s. Built at Alfa’s plant in Brits and initially powered by a 2.5l V6 engine, the car was a sleek-bodied, two-door fastback coupé, but it was outgunned on the track by the dominant BMW 535i. So Alfa replaced the motor with a more powerful 3l V6 that increased the top speed to 224km/h, and the car went on to leave the competition in its dust.
Racing homologation rules required Alfa to build at least 200 road-legal units, and only about 212 units were eventually manufactured, making them highly collectible. The red 1985 model sold at the Creative Rides auction was a concours winner.
More than 100 classic and collectible cars were auctioned on the day. Highlights included another home-grown special: a 1971 Ford Capri Perana V8 that sold for R780,000. Created by Edenvale-based engineer Basil Green who made his name by dropping bigger engines into Fords, the Perana was powered by a Mustang 5.0l V8 in place of its regular 3.0 V6 and it ruled racetracks in the 1970s. Basil Green Motors converted only about 550 Capris.
Creative Rides CEO Kevin Derrick says classic-car prices have risen dramatically over the last decade for vehicles that are in good condition and have traceable histories.
Other rare collectibles snapped up at the auction were a Ford Fairmont GT (R900,000), a 1960 Chevrolet El Camino (R915,000), a 1966 Ford Mustang Notchback (R825,000) and a 1970 Mercedes-Benz 300 SEL (R800,000).
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.