Versace Mansion Goes To Bankruptcy Auction

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One of America’s most iconic homes, the Miami Beach mansion that once belonged to Italian fashion designer gianni versace, goes on the auction block on Tuesday, with bidding set to open at $25.

According to a press release issued by Fisher Auction Company, majority owner and telecom entrepreneur Peter Loftin has filed bankruptcy. The Miami Beach mansion, last listed for $75 million after two steep price cuts, will be sold at an auction in conjunction with Coldwell Banker’s The Jills at 10 a.m. Sept. 17.

Versace Mansion goes on the auction block When the Versace mansion first hit the market, it was priced at $125 million. Two price cuts and a few months later, the home was listed at $75 million.When the property headed to bankruptcy auction, the stalking horse bid started at $25 million.. The final sale price? $41.5 million.

Former palm house owner glenn straub will have to slap down some cash if he wants to buy the beleaguered hotel-condominium property in Palm Beach at a bankruptcy auction early next. Related.

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Holy Crap, The Versace Mansion Will Go To Auction Sept. 17th. New, 1 comment. By Sean McCaughan Jul 16, 2013, 8:22pm EDT. will be sold at bankruptcy auction at 10 AM,

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In the case of the Versace Mansion auction, the required starting bid of $25 million was not necessarily a bargain price, but the type of bidders drawn to a bankruptcy auction are generally not deterred by the published starting bid amount, as they know that in these types of auctions they are dealing with a seller (that is, the creditors and.

“Why do we not stay here and not go. federal bankruptcy. Three bidders put up the $3 million deposit and paperwork showing at least $40 million in financial liquidity, including Donald Trump. The.

The former Versace mansion fetched a top bid of $41.5 million at a high-profile auction Tuesday from New York’s Nakash and Gindi families, who own the Hotel Victor next door.

The South Beach mansion once owned by the late Italian designer Gianni Versace sold at a bankruptcy auction for $41.5 million on Sept. 17, 2013.

Though the Versace family hasn’t owned the oceanfront mansion since 2000, auctioneers hope the Italian designer’s legacy will attract bidders to the Miami Beach property when it goes up. this year..

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