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Why do wealthy people auction multimillion-dollar homes? – Finance & Commerce

Posted by on September 17, 2016

Castle Valer’s interior features 80 rooms. (Submitted photo: Concierge Auctions)

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 euros ($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 euros, languished unsold for four years.

Halfway around the world, i… (View original article)

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