Staying on the dying theme, merely reaching a price might cause cardiac arrest, says Aletta Liebenberg, chairperson of the Cape Town Valuation Court. "It’s an almost impossible task, unless they divide it into separate entities and sell off parcels, but I don’t think even that is possible. It might be easier valuing Table Mountain."

Liebenberg would not even hazard a guess on the price, aside from ‘many billions’, even though she handled the R1 billion valuation of Cape Town Harbour "It will come down to what a buyer is prepared to pay. I believe it will be a politically inspired price. It has to be, because the V&A has become a national asset."

Liebenberg’s team is currently busy with individual valuations of V&A properties for rates purposes. "There are many unanswered questions, including who owns the buildings, what is the situation with registered leases, and who is ultimately responsible for rates and taxes. If I was advising potential buyers I’d suggest holding back until the rates queries are sorted out."

In 2004 the V&A’s combined turnover for the 338 915sq m mixed use site – hotels, retail, restaurants, offices, residential, and an entertainment of other uses – topped R2bn. If popularity and demand are an indication, then sample these asking prices: Retail rent – R350sq m, office rent R90sq m, other (parking, conference areas, etc) – on application, availability – zero. Residential availability - also zero, and prices are nudging R20m for a penthouse.

Regarding likely buyers for Public Enterprise Minister Alec Erwin’s sale of the century, if the pension funds don’t grab it that is, common consensus is that they will have to have a wall-to-wall black empowerment consortium, and it could involve overseas partners. The Congress of SA Trade Unions (Cosatu) has already hammered Erwin in advance for parting with the crown jewels, so expect its investment arm, Kopano Ke Matla, to be in on the action. At least its two million workers will have a trinket or two, if not the jewels.