One of Franschhoek's leading wine farms, which includes everything from a world-renowned restaurant to a spa, was auctioned for R53 million on Friday.
Three potential British buyers were among a crowd of South African bidders but it was Pretoria businessman Jan Harmse who made the winning bid for the Klein Genot Wine and Country Estate.
"I want to continue to grow its tourism potential," he said after the hammer fell.
Up to 100 wine farms are on the market in the winelands around Cape Town. They include the well-known Le Pommier, which went on the market at the end of last year for R34m.
Estate agents say the number of farms for sale has nothing to do with the economic slump. They say many are "gentlemen's estates".
A Re/Max farm sale associate in the winelands, Willie Baden, said there were between 60 and 100 wine farms on the market in Franschhoek, Stellenbosch, Paarl and Somerset West, with prices ranging from R6m to R60m.
Many of them were not agriculturally viable but were being sold as lifestyle, gentlemen's and leisure industry estates.
"There are still overseas buyers who are interested in buying farms but most (buyers) are from Gauteng. (Julius) Malema's antics haven't been helping much," said Baden
Lifestyle estates were bought for their views, snob value or wine labels, he said. Gentlemen's estates were bought by people who wanted a farm as a retreat or a place to retire.
This year would provide a window of opportunity for international buyers interested in investing in the winelands lifestyle.
Pam Golding Property's Chris Baker said all wine farms could be sold if the price was right.
"Farmers have remained very resilient during the economic depression. There were very few who panicked," he said.
News of Friday's auction caused a stir among local and international investors, as the value, reputation and potential of Klein Genot is well known.
The previous owners, Angie and Joey Diamond, were happy with the amount offered. They say they plan to retire.
Set in the Franschhoek valley 4km from the town, the 22ha farm has an award-winning homestead featuring six suites, a spa, the Klein Genot Restaurant, a new purpose-built 150-ton winery and extensive organic orchards.
Alliance Group auctioneer Rael Levitt said: "The auction was a once-in-a-lifetime opportunity to own one of the Western Cape's finest estates, which consists of a top wine estate, as well as an exclusive fine-dining restaurant, a luxurious boutique hotel and a highly acclaimed spa.
"In a very short period of time Klein Genot has built a reputation for quality and prestige. The estate boasts enormous potential, and it is perfectly set for a new owner to take advantage of its impressive offerings."
The winery's imported equipment processed its maiden harvest of red varietals in 2007.
Stemming from just over 20ha of vineyards, the young modern wines have earned a respected reputation, achieving prestigious accolades.
The estate's first vintage gained a special recommendation from the Wine of the Month Club and received four stars from John Platter.
The estate is planted with cabernet franc, cabernet sauvignon, shiraz and merlot vines.