R34m bid buys a Greek island

A South African has walked off with the 17ha Sofia Island after successfully bidding R34-million for it at auction yesterday.

The Greek island between Greece and Italy was expected to fetch a much higher price.

It's all the more surprising that there were no further bids, as the auctioneers received more than 100 calls from people inquiring about it. Most of the interest came from families who wanted to use it as an exclusive getaway.

Sofia was previously owned by a Greek family living in South Africa.

Greg Hanna, of Auction Avenue, was quoted as saying the owners were selling because there was family tension and it was easier to sell the island and split the money resulting from its sale.

Hanna's colleague Kaleb Willems said: "The consignment bid, which is basically someone who has put an offer prior to the auction, was not beat.

"The market was definitely flat, but with most auctions, 60% of the sales happen two weeks after, just because the auction raises awareness of properties on offer."

The island is zoned to accommodate up to six houses, according to Willems, and is around two hours from the nearest airport.

The only drawback: it does not have an electricity supply.

The neighbours are Qatari royals less than 1km away.

In similar news, the Greek island where Aristotle Onassis married Jackie Kennedy was reportedly also sold this week for more than R1-billion to a Russian billionaire.

The Greek shipping magnate's granddaughter, Athina Onassis Roussel, agreed to sell the island, situated off the western coast of Greece, to the unnamed top bidder.

The island was bought by Aristotle Onassis just over 50 years ago for a mere R137000.