A 12,000-square-foot stone mansion is going up for auction and will sell to the highest bidder — even if the price is well below the $6.99 million list price.
The home in the upscale Scottsdale Estancia golf community comes with a garage that could be a car showroom, six bedrooms and 11 bathrooms.
Russ Lyon Sotheby’s International Realty and Concierge Auctions are holding the live, online auction, something they plan to make an annual event. The groups say the home is being sold with "no reserve," meaning it will sell no matter how low the price.
Bidding starts at 4 p.m. Friday, Feb. 9. Buyers must be pre-qualified – show they have the money to purchase the mansion – before they can bid.
“Auctions can successfully sell the finer tangibles in life,” said Frank Aazami, founder of the private client group at Russ Lyon. “Our objective is to strike a conversation, motivate people who have been sitting on the fence and get their property sold in the process.”
The Scottsdale home is owned by Mark and Melissa Matson, who paid $6.5 million for it in 2014, according to public real estate records.
