Investors usually buy vacant land to develop housing or office space - but yesterday a private buyer bought land for almost R5-million to benefit the dead.
The 8.5ha of land, earmarked for a cemetery, is in Winterveldt, near Soshanguve, Pretoria.
It is expected to accommodate at least 12,500 graves.
The buyer and seller have refused to be identified.
The land was auctioned in Johannesburg yesterday.
Lead auctioneer Joff van Reenen said the auction was a first for South Africa. Bidding started at R3-million and ended at R4.8-million.
"How do you place a value on a cemetery?" lead auctioneer Joff van Reenen observed with a chuckle. "But the sellers were very happy with the sale.
"We received more than 50 inquiries from as far as Durban and Cape Town. People are saying this is a lucrative business and good investment," said Van Reenen.
It seems that more people are willing to pay for their loved ones to rest not only in peace but in private.
"There is a big demand for burials in private cemeteries," said Martin Brits, owner of dozens of Martin's Funeral Service branches across South Africa.
"Not all government cemeteries are well maintained," he said. "Instead of cutting the grass, they will sometimes wait for it to grow and then just burn it."
But there are few private cemeteries and it costs a fortune to buy a grave plot in them.
"I know of one place where the price is around R20,000," said Brits. ''But it is presentable; it looks like a garden . a phantom garden."
Good maintenance and affordability were essential for the commercial success of a private cemetery, said Brits.
"The price of graves has skyrocketed in the past few years, particularly on the East Rand, where a grave [at a government cemetery] can be bought for about R2,500."
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