http://abcnews.go.com/Business/RealtyCheck/Story?id=5472160&page=2
“Gollinger and the Cheslocks have now taken a cue from the foreclosure world, opening a five-week auction with bids starting at $19 million — a measure usually reserved for properties seized by banks, not high-end real estate.
“What we do is we set a sealed bid price at a price point that is a below market price,” said Gollinger.
Real-estate experts say Hillcrest is the most expensive house in U.S. history to be sold this way.
“This is, pretty much a watershed event, I think, for high-end homes,” said Gollinger. “You’re not going to be able to sell them utilizing typical … broker-to-client standard kind of process. People are going to have to be more bold in their outreach.”
‘Everything’s Negotiable’
And the envelope please … on August 15th, the bidder with the highest offer will come home to Hillcrest. But what happens to the theater, the pool, the sculptures … even the wine? Does it come with the house?
“All negotiable,” said Stanley.
“Negotiable. Everything’s negotiable,” added his wife.
“I’m confident we will get bids,” Stanley continued. “Whether we see bids at a number as high as we would like to see is questionable but it’s gonna sell. We’ll find out what market is.”
So what’s next for the couple who outlived their dream?
Believe it or not, the Cheslocks are at odds over size. Stanley’s keen on a 7,000 square foot house. Dorothea, a former teacher, says she can live with just 3,500. “
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A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
Replies
and I thought my bid was good at $14 million.............. fat chance.
man,i'm sorry if i knew that was your bid i wouldn't taken you out at 15 mil.
go ahead and bid again and i won't ,but you have to let me come over and slum around some weekend. larryif a man speaks in the forest,and there's not a woman to hear him,is he still wrong?
A little collusion at the auction never hurt anybody ;->
There were some folks here who auctioned their very expensive house. They initially listed it at $2.5M but there were no takers so they hired an auctioneer. IIRC the bidding started at $1M and the house sold for $1.5M. This was a live affair with everyone crammed into the living room. I could have gone but didn't have the free time.