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Why Do Wealthy People Auction Multimillion-Dollar Homes, Rather Than List Them? | Tony Seruga
Sep
18

Why Do Wealthy People Auction Multimillion-Dollar Homes, Rather Than List Them?

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Hundreds of wealthy homeowners are taking the riskier route. Here’s why.

Count Spaur zu Flavon und Valer’s family had lived in its 80-room castle in the Dolomites for more than 650 years; having recently poured more than €10 million ($11.25 million) into its restoration, the count decided in 2012 that it was time to sell. And then the castle, which was priced at more than €30 million, languished unsold for four years…

Why Do Wealthy People Auction Multimillion-Dollar Homes, Rather Than List Them?

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