Before the skyscrapers of Sandton and the bustle of the CBD, Johannesburg was a dusty triangle of land known as Randjeslaagte. In 1886, the air was thick with “gold fever,” but it wasn’t just the mines that were making fortunes, it was the auction block.
As we look at the thriving auction industry in South Africa today, we find its roots in a three-day event that literally put “Joburg” on the map.
The Date: December 8, 1886
Following the discovery of the Main Reef, the government of the Zuid-Afrikaansche Republiek (ZAR) realised they needed a formal township. After a few postponements, the first public auction of “stands” (plots of land) was set for Wednesday, December 8, 1886.
The auction was conducted by Joos Heystek (representing the Pretoria Auction Agency), a man who had to command the attention of a rowdy, hopeful, and diverse crowd of prospectors and speculators.
The First Lot: Stand No. 469
The very first item under the hammer was Stand No. 469, located at the corner of what we now know as Pritchard and Diagonal Streets.
The bidding started at a humble 2/6 (two shillings and sixpence). After some spirited back-and-forth, the gavel fell at £10 17s 6d. It was a modest start for what would become some of the most valuable real estate in the Southern Hemisphere.
The Goods Sold: Land, Livestock, and Luxury
While the December auction focused on 99-year leases for stands, the auction culture quickly expanded. By early 1887, the Market Square (now the site of the Mary Fitzgerald Square area and the Beyers Naudé Square) became the heart of the city’s commerce.
- Real Estate: 986 stands were initially offered. While the first sold for £10, the 25 stands surrounding the Market Square fetched between £200 and £300 each.
- The “Market Master” Sales: In February 1887, Market Master Stefanus Papenfus began daily auctions of produce and livestock. Wagons would roll in from the countryside, and everything from Boer meal and tobacco to oxen and wagons was sold to the highest bidder.
- The High-End Buyers: Notable attendees included T.W. Beckett (the Pretoria merchant prince), who famously paid £1,065 for a block of five stands—a staggering sum at the time.
The Atmosphere: A Social Phenomenon
These early auctions weren’t just business transactions; they were the city’s primary social events.
“The market hall is thronged with all races and all colours… the proceedings are enlivened by a kind of music produced from a harp, violin and cornet.” — The Star, 1890
The “between the chains” area near the Market Square eventually birthed the Johannesburg Stock Exchange, showing that the spirit of open, competitive bidding is truly in the DNA of this city.
Why It Matters Today
At Grand Oak Auctions, we carry on this 140-year-old tradition. The transparency, the excitement of the “knock-down,” and the fair market value established by the crowd remain the gold standard of trade. Whether it’s a historic title deed or modern machinery, the auction remains the heartbeat of Johannesburg’s economy.
Would You like to become part of Johannesburg auction history? Reach out to Grand Oak Auctions today.
☎️ 063-740-1878
📧 info@grandoak.co.za
