The Quoin Rock auction debacle

ONE of Africa’s richest women, Wendy Appelbaum, is embroiled in a messy dispute over Dave King’s Cape wine estate – which is now back on the market after the R55-million auction sale fell through.

Appelbaum was the highest bidder for the Quoin Rock estate in Stellenbosch in December when her R55-million bid was too much for other registered bidders, including the likes of Shoprite Checkers CEO Whitey Basson.

But Appelbaum, who already owns a wine estate in Stellenbosch, claims she subsequently found out she was the only genuine bidder. She is now disputing the legality of the auction process.

In an e-mail to the Sunday Times she said she would be “more than happy to pay R55-million for Quoin Rock if the auction process had not been fundamentally flawed”.

“I do not believe that the auction process complied with the Consumer Protection Act,” Appelbaum said.


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