Selling the Big Homes at Auction with Dan DeCaro

Just a few months ago, a three-section painting by artist Francis Bacon (Three Studies for a Portrait of John Edwards, 1984) sold at auction at Christie’s for roughly $80 million. This staggering sum is perhaps the best example of what can happen when one matches a unique historic narrative with a particular asset , and adds international marketing and simple human nature. Even over time, there remains no serious alternative to a private auction when sellers of fine art, automobiles, jewelry, rugs, or antiques seeking to find the best vehicle for the true market value of these assets. But oddly enough, real estate, historically one of the first assets to be sold using the auction process, has preferred the broker/agent model. With Hollywood depictions of bankers on the steps of distresse

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