The 13-bedroom Villa Firenze is located on more than 9 acres of land in Beverly Hills. According to Concierge Auctions, which handles the sale, it is available via its own private street. The house is decorated with vaulted ceilings, several fireplaces and 25 bathrooms, while the wider estate has three separate guest houses.
The site is located in the upscale North Beverly Park neighborhood, home to celebrities such as Rod Stewart, Denzel Washington and Sylvester Stallone, according to a press release.
The wider estate has three separate guest houses. Credit: Concierge Auctions
The property is designed by California-based architect William Hablinski and is described by the auction house as an ‘authentic Italian town’.
Outdoor facilities include a jogging track, swimming pool, jacuzzi, pool house, tennis court and a courtyard large enough for 30 cars.
“This is truly a masterpiece that is impossible to recreate,” the property owner was quoted as saying in the press release. “Many of the world’s most popular and sought-after items are sold at auction – and like this, Villa Firenze is a work of art in itself.”
Registered buyers have about a week to bid on the 13-bedroom mansion. Credit: Concierge Auctions
The lavish home was listed by real estate agents Hilton & Hyland at $ 160 million, which, if achieved, would make it the most expensive residential property ever sold at auction, Concierge Auctions said.
Despite the apparent risk, auction house chairman Chad Roffers said auctions could be a better bet for people selling properties at the top of the market.
“When it comes to properties worth more than $ 10 million – let alone $ 100 million plus – the buying pool is extremely limited, which usually leads to months and years on the market,” Roffers said in an mail interview said and added that the traditional sales method has its limitations.
The home was designed by California architect William Hablinski. Credit: Concierge Auctions
“In Beverly Hills, the average number of days in 2019 was 324 on the market,” Roffers said. “Our research shows that if a luxury property is not sold within 90 days, it is likely to remain on the market for the next three to five years and eventually sell for a fraction of the original price.”
The auction will take place online for eight days from 26 January.