Steal of a deal: 23-room Ontario mansion auctioned for $6.2M
Published Sunday, January 26, 2014 7:15PM EST
Last Updated Friday, April 25, 2014 12:49PM EDT
A sprawling custom-built Mississauga, Ont. mansion has been scooped up in an auction for $6.2 million, just over half its original list price.
The 23-room property, which sits next to a ravine and country club, was put on the auction block on Sunday, after the owner was unable to sell the French-chateau style mansion at its earlier list price of $11 million.
Neighbours on the quiet cul-de-sac say the property didn't sell because the mansion was too big, and didn't fit in with the neighbourhood.
But on Sunday, savvy mansion-hunters lined up outside the property that cost $8.5 million to build, hoping to place a bid on the 18,000 square-foot "Saxony Manor."
"I'm hoping to pick up a steal. I like to get a good bargain on the house," Mississauga resident Moe Sherikh told CTV Toronto.
Sherikh and his wife, Saira, were among the dozens of potential buyers who forked over a $25,000 deposit for an opportunity to bid on the property.
Believed to be one of the most valuable estates in the Toronto suburb, the property had piqued the interests of a number of international buyers from India, Asia and Dubai prior to the auction.
Re/max sales representative Angela Cerny said because the mansion is so grand -- it features a wine cellar, home theatre and its own elevator -- they decided to reach out to a larger market.
"We have tried the MLS system. (We) don't find it as effective when you are focusing on the global market," Cerny told CTV Toronto.
Ritchies Auctioneers, the auction house that sold the property, was also accepting bids on a number of items from inside the house, including an 18-carat yellow diamond and a Hermes Birkin crocrodile handbag said to be worth more than $800,000.
The identity of the winning bidder was not made public, as the individual wished to remain anonymous.