Maumela’s R14m Ferrari sells for R10.1m as auction closes - TimesLIVE

The Ferrari SF90 Stradale linked to businessman Hangwani Morgan Maumela has been sold for R10.1m.

Auctioneer Jan le Roux confirmed the Ferrari had been sold when the auction closed shortly after 11am on Wednesday.

The 2022 Ferrari SF90 Stradale has clocked only 311km, with bidding starting at R8m. Its estimated market value is about R14m.

Le Roux said the vehicle’s exceptionally low mileage made it particularly attractive despite being a 2022 model.

After a Special Tribunal order, the Special Investigating Unit-appointed (SIU) curator was authorised to sell the luxury vehicle, with the proceeds to be held in an interest-bearing trust account until the conclusion of civil proceedings.

The Pretoria high court recently dismissed an urgent application by Maumela and the trustees of the MHR Maumela Family Trust to stop the sale.

The Ferrari was among several luxury vehicles preserved in September 2025 as part of an SIU investigation into alleged corruption and maladministration at Tembisa Hospital, where about R2bn was allegedly looted.

Last year the SIU obtained an order to preserve assets valued at R900m linked to the so-called Maumela syndicate.