$139M Mansion Becomes Most Expensive Listing In U.S.
A Florida mansion with a $139 million price tag has officially become the most expensive house for sale in the U.S.By Ryan Biek | September 8, 2014
If you're looking for a new home and have $139 million to spend, make note of this Florida mansion that just became the most expensive listing in the U.S. Otherwise, feel free to sit and watch in awe.
WSVN: "Take a good look because for the majority of us, that's likely as close as we'll ever get."
According to CBS, the 60,000-square-foot home comes with 11 bedrooms, 17 bathrooms, an Imax theater, room in the garage for 30 cars and even a $2 million gold-leaf-encrusted staircase.
CBS notes construction won't be complete until the end of the year, yet the house has already earned a name. The builders have dubbed it "The Palais Royale" — because using the French word for palace just screams Versailles.
The house's listing agent, William P.D. Pierce, told World Property Channel: "[The house] was designed to be fit for royalty and the upmost refined individual. It is a true extension of a life well-lived. This grand palace will be a landmark that rivals Europe's greatest palaces."
Forbes, however, noted two California mansions have more expensive price tags than The Palais Royale, albeit unofficially.
One is the Owlwood Estate, which is actually three properties on their own street. It's smaller than the Palais at only 12,000 square feet but has been owned by Hollywood royalty such as Sonny and Cher, Jayne Mansfield and Tony Curtis. (Video via YouTube / Prestige MLS)
The other is The Manor, AKA The Spelling Manor. A little larger than the White House, it was originally Bing Crosby's home, then legendary producer Aaron Spelling's and now the Ecclestone family heiress Petra Stunt's. (Video via Forbes)
Both houses are unofficially listed at around $150 million. But the trend of $100-plus million homes is becoming less rare. According to CNBC, at the end of last year, more than six were officially listed around that price. Even more were quietly being advertised.
Yet, in what could be a bad trend for the makers of The Palais Royale, buyers have been known to get the better end of the deal.
Both the Versace Mansion and the Spelling Estate — when it was sold to Stunt — were sold for dramatically less than their asking prices.
Which begs the question — why set the price at $139 million when there's little chance of it being met? It turns out there might be a strategy in the figure.
As The Wall Street Journal points out, the price of a home signals its worth. So $139 million would put it in the same category as Owlwood and The Manor. But when you price something slightly under a benchmark, say 139 instead of 140, buyers believe they are getting a deal.
Good or bad, The Palais Royale has one thing no other house can claim: the most expensive official price. And for some buyers, that just might be a selling point worth bragging about.