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Tiffendell to be sold without reserve

25 Jun 2012

Tiffendell, South Africa's only ski resort, is to be auctioned on 12 July and as there is no reserve price, bidders could pick up a bargain, according to a Business Report report.

According to the Business Report report, the 101-hectare farm on the slopes of Ben McDhul peak in the Drakensberg was liquidated in 2009 and since then the resort has been struggling to operate without snow machines or ski lifts as these were among assets attached by creditors. High Street Auction Company says the decision not to put any reserve on the sale was based on prevailing economic conditions and claims that this is the best way to generate the highest possible price in the current market.

Read the full article on www.iol.co.za/business.