$20 Million Mansion to Sell to Highest Bidder in Absolute Auction
One of Martin County’s most expensive estates will be auctioned off in an absolute auction on April 25 to the highest bidder.
In an absolute auction, no minimum bid is required.
The $20 million mansion has the potential to sell for a fraction of its worth because the top bid has to be accepted regardless of the dollar amount.
The home consists of 10 bedrooms, marble flooring, an elaborate garden with a koi pond, movie theatre, more than 10 hand-painted ceilings, chandeliers and gold plated fixtures.
The current owners of the 22,000-square-foot estate, Charles and Peggy Russell, explain the decision to auction off their home as an effort to downsize.
Peggy informed wptv.com, "We weren't going to live here forever because as we get older, it will be a bit easier if we don't have as many bedrooms.”
The couple will move into a penthouse on Singer Island.