David Invest

Wealthy Homeowners Overprice Their Mansions, and Auctions Are Calling Them Out

• David (Viacheslav) Davidenko

Share episode

What if even the wealthiest among us aren't immune to the changing tides of the real estate market? Discover how luxury homeowners, including celebrities, are navigating this landscape by turning to auctions as a viable strategy for selling their opulent properties. We unravel stories of high-profile figures like Randy and Robin Lansman, who experienced firsthand the necessity of adjusting expectations when their Tribeca penthouse sold for less than anticipated. These tales serve as a reminder of the critical importance of realistic pricing and staying informed about market dynamics.

But that's not all—listeners will gain insights into the potential hazards awaiting eager buyers at these auctions. Avoid the trap of impulsive decisions with cautionary accounts like that of Eric and Michelle Stern, whose rushed purchase led to regret despite their initial belief in the property's high value. We emphasize thorough research and expert consultation as essential tools in navigating the complex world of luxury real estate. Whether you're buying or selling, arm yourself with knowledge and prepare for the unexpected in this fascinating exploration of high-end real estate auctions.

🔗 Check out our website for more information and valuable resources: https://linkin.bio/davidinvest

📸 Follow us on Instagram for updates and behind-the-scenes content: https://www.instagram.com/davidinvestai/

🎥 Subscribe to my YouTube channel for more investment content: https://www.youtube.com/@DavidInvestAI

🔗 Network with me on LinkedIn for professional connections and advice: https://www.linkedin.com/in/vdavidenko/

📧 Subscribe to our newsletter for exclusive investment tips and insights: https://sunrisecapitalgroup.com/subscribe/

📚 Check out my course on Udemy - https://www.udemy.com/course/passive-real-estate-investing/

Disclaimer: The content provided on this channel is intended for educational and informational purposes only and does not constitute investment, financial, or tax advice. We strongly recommend that you consult with qualified professionals before making any financial decisions. Past performance of investments is not indicative of future results. The information presented here is not a solicitation or offer to buy or sell any securities or investments. Our firm m...

Speaker 1:

Hey everybody and welcome to another deep dive. Oh yeah, it's going to be a good one Today we're going deep, deep into the world of high end real estate auctions where even are getting a reality check sometimes a big one. But first make sure to check out.

Speaker 2:

Yeah.

Speaker 1:

WWW dot twenty sixty, dot US.2060.us Us For even more, way more, real estate investing insights. Wow, yes, it's a perfect complement.

Speaker 2:

Couldn't agree more.

Speaker 1:

To today's topic.

Speaker 2:

So why are so?

Speaker 1:

many luxury homeowners.

Speaker 2:

These days.

Speaker 1:

Turning to auctions. It's the question and are they getting the big question?

Speaker 2:

Well, Lay it on me I love.

Speaker 1:

A good article Hit me oh.

Speaker 2:

Oh, I like that yeah. It's a big disconnect sometimes yeah, I think your properties are worth.

Speaker 1:

They think they're's a big disconnect sometimes Between what sellers yeah, they believe, I think their properties are worth. They think they're worth a lot.

Speaker 2:

Yeah, the market's actually willing to pay.

Speaker 1:

Exactly.

Speaker 2:

So let's dive right in.

Speaker 1:

Let's do it with a story. I love a good story about a Manhattan couple. Oh.

Speaker 2:

Randy and Robin Lansman.

Speaker 1:

I've heard of them who tried to sell. Oh yeah.

Speaker 2:

Their Tribeca.

Speaker 1:

Fancy.

Speaker 2:

Pet house Nice For $12.2 million. Big bucks, but they ended up selling it at auction. Oh For only $5 million. Oh wow.

Speaker 1:

That's a huge difference that is more than.

Speaker 2:

More than half.

Speaker 1:

Yeah.

Speaker 2:

Of their asking price just gone than half of their asking price just gone, Like that this case perfectly illustrates a key takeaway for you.

Speaker 1:

Listen up, even in luxury markets.

Speaker 2:

You'd think Sellers need to be realistic.

Speaker 1:

They really do.

Speaker 2:

Overpricing based on emotional attachment can seriously backfire.

Speaker 1:

Oh yeah.

Speaker 2:

Especially at an auction Big time.

Speaker 1:

It's almost like they were living in a fantasy world, fantasy land when it comes to.

Speaker 2:

Their property's value. Yeah, it makes me wonder.

Speaker 1:

Makes me wonder too.

Speaker 2:

Is this a common?

Speaker 1:

This is common. Like how common is this? It is, it is.

Speaker 2:

The article mentions the Lake Wobegon effect, where everyone thinks their property is above average Above average. It's like when everyone thinks their dog is the smartest.

Speaker 1:

Every dog owner.

Speaker 2:

Even in a room.

Speaker 1:

Even in a room.

Speaker 2:

Full of dogs. Yeah, there's a tendency there is. To overestimate our own.

Speaker 1:

Always Homeowners do the same, do the same thing With their property, with their properties.

Speaker 2:

That's a great analogy, great analogy. I can definitely see that happening.

Speaker 1:

Yeah, me too.

Speaker 2:

So are auctions becoming more common for these types of high-end properties, the fancy ones.

Speaker 1:

Absolutely.

Speaker 2:

Auctions that used to be for Once associated.

Speaker 1:

Yeah, Mainly with foreclosures yeah. Are now a strategy Now it's for For luxury homeowners struggling to sell in a changing market. In this market here's where it gets really interesting, really interesting.

Speaker 2:

This isn't just happening to everyday millionaires.

Speaker 1:

To regular millionaires.

Speaker 2:

Even celebrities are getting caught. They get caught up In this trap.

Speaker 1:

In this trap, in this trap, oh, absolutely, oh, yeah, the article highlights some juicy examples. Juicy examples.

Speaker 2:

Remember Sandra Morgan.

Speaker 1:

Of course.

Speaker 2:

From Real Housewives of New York.

Speaker 1:

I love that show.

Speaker 2:

She tried to sell.

Speaker 1:

Oh yeah, she did.

Speaker 2:

Her townhouse for years.

Speaker 1:

I remember that.

Speaker 2:

Starting at a whopping $10.75 million.

Speaker 1:

A whopping.

Speaker 2:

Oh yeah, I remember that.

Speaker 1:

Me too.

Speaker 2:

She always seemed so confident, so confident.

Speaker 1:

About the value of that townhouse.

Speaker 2:

Yeah, she loved that townhouse. A confidence Might have been.

Speaker 1:

Might have been.

Speaker 2:

A bit misplaced, maybe a little. It eventually went to auction for a mere $4.595 million.

Speaker 1:

Oh, my goodness.

Speaker 2:

Ouch Ouch.

Speaker 1:

Ouch is right.

Speaker 2:

That's got to sting, that's got to hurt. Are there other celebrity examples?

Speaker 1:

More dirt, oh yes.

Speaker 2:

Tell me more Definitely oh.

Speaker 1:

God. The article also mentions former baseball star.

Speaker 2:

A baseball star.

Speaker 1:

Derek Jeter.

Speaker 2:

Oh yeah.

Speaker 1:

Who had a castle-like estate, a castle? Eric Jeter. Oh yeah, who had a castle-like estate, castle that he tried to auction off A castle at auction he set a reserve price Right Of $6.5 million.

Speaker 2:

Not bad.

Speaker 1:

But it ended up selling for just over $5 million. Oh wow so even celebrities.

Speaker 2:

So even.

Speaker 1:

With their fancy homes, their fancy and millions of dollars.

Speaker 2:

All that money money aren't immune. No, they're not.

Speaker 1:

To these market realities. It seems like accurate pricing.

Speaker 2:

Seems like.

Speaker 1:

Is key.

Speaker 2:

Is really key.

Speaker 1:

Even in the world of luxury real estate.

Speaker 2:

Even luxury.

Speaker 1:

Couldn't agree more.

Speaker 2:

Totally agree.

Speaker 1:

These examples I'm under three Really underscore that market conditions.

Speaker 2:

Market conditions. And realistic pricing matter, regardless of how famous or wealthy you are.

Speaker 1:

It doesn't matter.

Speaker 2:

Okay, so we see that auctions can be risky for sellers Whiskey, but what's?

Speaker 1:

the appeal.

Speaker 2:

Why are they choosing this?

Speaker 1:

one. Why choose Instead of traditional listings?

Speaker 2:

Traditional listings. There are a few advantages.

Speaker 1:

First, auctions offer a defined timeline, which can be very appealing to sellers who are tired of waiting for their property to sell. Yeah, that makes sense. When you're dealing with a high-end property, time can definitely be a factor.

Speaker 2:

But time is money.

Speaker 1:

Exactly, Exactly. And second auction houses often claim to reach a wider pool of potential buyers.

Speaker 2:

More buyers Both.

Speaker 1:

Domestically.

Speaker 2:

Domestically and internationally, and internationally they specialize in marketing More buyers, both Domestically. Domestically and internationally, and internationally they specialize in marketing Specialists. These unique properties, unique To a specific audience.

Speaker 1:

They know their audience.

Speaker 2:

So they're essentially they are Casting a wider net.

Speaker 1:

A wider net.

Speaker 2:

To attract serious high-end buyers. High-end buyers, but I imagine there are some.

Speaker 1:

What Downsides For sellers. Downsides as well, right, right Of course there are, while auctions are A faster timeline. And a wider Reels need to go into, I go the process With realistic expectations. Realistic, they need to be prepared to accept Paycheck, to accept the highest bid.

Speaker 2:

Highest bid.

Speaker 1:

Even if.

Speaker 2:

Even if it's.

Speaker 1:

Less than their ideal price.

Speaker 2:

Less than you want.

Speaker 1:

And I'm guessing. I'm guessing there are fees involved. Fees Two right, there are. There are auction house fees and other associated costs Costs. So sellers need to factor that.

Speaker 2:

Factor it in.

Speaker 1:

Into the equation as well.

Speaker 2:

To the equation, it's not always as straightforward.

Speaker 1:

Not always as it seems. As it seems so auctions aren't always a slam, dunk A slam dunk for sellers.

Speaker 2:

They can be. They can be Risky, risky.

Speaker 1:

But they also offer.

Speaker 2:

But they also offer.

Speaker 1:

Some Potential benefits.

Speaker 2:

Potential benefits. What about from a buyer's perspective?

Speaker 1:

What are the potential?

Speaker 2:

pitfalls Biggest risk.

Speaker 1:

The biggest risk for buyers is getting caught up in the heat of the moment.

Speaker 2:

In the heat of the moment and making an impulsive decision.

Speaker 1:

Oh yeah, the fast-paced nature of an option can sometimes lead people to overbid or overlook potential issues with the property they might get, so focused on winning that they just don't think it through fully. That sounds like a recipe for buyer's remorse Did you tell your remorse.

Speaker 2:

Are there any examples of buyers?

Speaker 1:

who got burned at an auction.

Speaker 2:

At auction.

Speaker 1:

The article mentions a couple Eric.

Speaker 2:

And Michelle Stern.

Speaker 1:

Who bought an East Hampton estate.

Speaker 2:

Oh wow, at auction, at auction.

Speaker 1:

They thought they thought it was worth at least $20 million. $20 million, but ended up paying $15 million.

Speaker 2:

They thought they thought it was worth at least $20 million $20 million, but ended up paying $15 million. Only $15.

Speaker 1:

And later.

Speaker 2:

Only $15.

Speaker 1:

Later it seemed like they had some serious regrets.

Speaker 2:

Regrets.

Speaker 1:

Ouch.

Speaker 2:

Yeah.

Speaker 1:

So it seems like both buyers and sellers.

Speaker 2:

Both sides.

Speaker 1:

Need to look for caution.

Speaker 2:

When it comes to caution, when it comes to when it comes to these high end auctions high end auctions what would you say is the most important takeaway?

Speaker 1:

the big takeaway for both sides, both sides, without a doubt.

Speaker 2:

I think it's having a realistic unrealistic understanding realistic of the market the market and the properties true value true value, true value. Don't get caught up In the hype or let emotion Conglitions Judgment, judgment, crucial. Do your research, consult.

Speaker 1:

Experts, experts, and be prepared to walk away. Walk away If the price. If the price isn't right, like we say on this show all the time, oh yeah, research, research, research, research it's so important, especially in a market as complex it's so complex High end real estate. High end real estate.

Speaker 2:

Speaking of research.

Speaker 1:

Oh yeah.

Speaker 2:

Have you checked out?

Speaker 1:

you know, www.2060.us.

Speaker 2:

Yet.

Speaker 1:

I have.

Speaker 2:

Have you.

Speaker 1:

It is a treasure trove. It is Information for anyone interested in real estate investing.

Speaker 2:

Yeah.

Speaker 1:

But getting back to our topic, Back to it. Let's talk about some of the truly unique oh Properties.

Speaker 2:

Oh.

Speaker 1:

That have gone to auction.

Speaker 2:

They are out there.

Speaker 1:

Oh, there are some fascinating ones.

Speaker 2:

There are.

Speaker 1:

The article highlights a few that are sure to pique your interest.

Speaker 2:

I'm intrigued.

Speaker 1:

Lay it on me. What kind of unique properties are we talking about? Yeah, well, there's a White House replica in California. What that sold at auction, for instance? Wow Wait, a White House replica Well, White House replica. That's wild.

Speaker 2:

That is wild. It is, and get this. There's also a treehouse-style home.

Speaker 1:

A treehouse.

Speaker 2:

Built by.

Speaker 1:

Built by.

Speaker 2:

Former NFL star, drew Brees.

Speaker 1:

Drew Brees.

Speaker 2:

That hit the auction block.

Speaker 1:

A treehouse built by Drew Brees.

Speaker 2:

I know.

Speaker 1:

Okay, now I'm really intrigued.

Speaker 2:

I know me too these aren't your typical cookie cutter mansions? Absolutely not, not at all, not at all.

Speaker 1:

These are properties that appeal to this is for. A very specific type of buyer.

Speaker 2:

Specific.

Speaker 1:

Someone looking for something. Someone looking for something, someone looking for Truly extraordinary.

Speaker 2:

Yeah, makes sense, makes sense.

Speaker 1:

But even with these unique property, accurate pricing is still crucial, right, always crucial, absolutely.

Speaker 2:

It is no matter how amazing a property is, it's still subject to market forces.

Speaker 1:

Overpricing can backfire Just as easily, just as easily as it would with a more conventional home.

Speaker 2:

A regular home.

Speaker 1:

So what's the bottom line for sellers?

Speaker 2:

Yeah, what about the sellers?

Speaker 1:

Of these one-of-a-kind properties, the unique ones, how can they ensure they get, how can they get A fair price at auction? Yeah, first and foremost. Yeah, they need to find an auction house.

Speaker 2:

An auction house.

Speaker 1:

That has experience Experience Selling these types of property.

Speaker 2:

Baby's types.

Speaker 1:

And can market them.

Speaker 2:

And market them.

Speaker 1:

Effectively.

Speaker 2:

Effectively.

Speaker 1:

To the right audience.

Speaker 2:

To the right kids.

Speaker 1:

So choosing the right auction house.

Speaker 2:

So choosing the right.

Speaker 1:

Is.

Speaker 2:

Key.

Speaker 1:

Auction house is key.

Speaker 2:

What else?

Speaker 1:

What else Should?

Speaker 2:

sellers consider.

Speaker 1:

Should? What else? What else Should sellers consider? Should they consider Preparation is crucial Staging the property, staging, having professional photography done and creating high quality. High quality materials, marketing materials that showcase.

Speaker 2:

It's unique features. The unique features Make all the difference.

Speaker 1:

It's all about presentation.

Speaker 2:

It is and targeting Right buyers.

Speaker 1:

The right buyers.

Speaker 2:

They're right buyers.

Speaker 1:

It sounds like a lot of work.

Speaker 2:

A lot of work it is.

Speaker 1:

And, of course, having a clear understanding of.

Speaker 2:

You need to understand the legal and financial. Legal and financial aspects of the auction process.

Speaker 1:

Auction process is essential. Essential.

Speaker 2:

I'm curious Wow, what drives buyers?

Speaker 1:

What drives them To bid on these extraordinary properties? What is it?

Speaker 2:

Is it a status symbol?

Speaker 1:

Is it status?

Speaker 2:

An investment opportunity.

Speaker 1:

Is it investment? It's likely a combination, a hobble bobble. It factors.

Speaker 2:

All of the above.

Speaker 1:

For some, it's the allure of exclusivity.

Speaker 2:

Exclusivity.

Speaker 1:

The chance to own something truly unique that few others can possess.

Speaker 2:

You can't get this anywhere else. It's almost like owning a piece of history, History or art.

Speaker 1:

For others it might be the thrill.

Speaker 2:

The thrill of the chase.

Speaker 1:

Of the chase. Yeah, the excitement of competing, competing about it and winning. The prize, winning the prize. Yeah, it sounds a bit like an art auction.

Speaker 2:

It's like an art auction.

Speaker 1:

Where the bidding can get.

Speaker 2:

It can get Quite intense.

Speaker 1:

There's a psychological element, there is To it Psychology, but it's important for buyers, yeah, to stay grounded. Stay, grounded Stay grounded and not let emotions dictate. And let your emotions dictate, dictate your bidding so what's the key? What's the key?

Speaker 2:

To staying level-headed.

Speaker 1:

To staying level-headed.

Speaker 2:

In that kind of environment.

Speaker 1:

Yeah, setting a budget.

Speaker 2:

Set a budget.

Speaker 1:

Beforehand Before you go. And sticking to it. Stick to it no matter how tempting it gets, no matter what. It's crucial to remember that this is a major financial decision.

Speaker 2:

Yeah, and emotions shouldn't override no Good judgment. Good judgment.

Speaker 1:

It's easy to get swept up Easy to get swept up In the moment?

Speaker 2:

Yeah, especially when you're surrounded by high net worth individuals Having the property thoroughly inspected before bidding is also a must. A must.

Speaker 1:

Just as you would.

Speaker 2:

Just as you would.

Speaker 1:

With any other real estate purchase.

Speaker 2:

Yeah.

Speaker 1:

That's such a crucial point.

Speaker 2:

It's a big one.

Speaker 1:

It's easy to overlook.

Speaker 2:

Yeah.

Speaker 1:

Those practicalities.

Speaker 2:

The practicalities.

Speaker 1:

When you're caught up. Caught up In the excitement.

Speaker 2:

In the excitement.

Speaker 1:

Of an auction.

Speaker 2:

Now this brings up this brings up an interesting point.

Speaker 1:

An interesting point.

Speaker 2:

Are there any ethical?

Speaker 1:

Are there.

Speaker 2:

Ethical considerations.

Speaker 1:

Ethical considerations.

Speaker 2:

Surrounding high end.

Speaker 1:

Oh, that's a good point.

Speaker 2:

Real estate auctions.

Speaker 1:

Yeah, that's a valid concern.

Speaker 2:

Definitely.

Speaker 1:

With so much money so much money. At stake At stake. There's always the potential.

Speaker 2:

Always potential.

Speaker 1:

To go wrong.

Speaker 2:

For things to go wrong. Transparency and ethical conduct.

Speaker 1:

So important.

Speaker 2:

Are paramount in the auction process.

Speaker 1:

In the auction process.

Speaker 2:

Reputable auction houses.

Speaker 1:

Reputable auction houses.

Speaker 2:

Have a responsibility.

Speaker 1:

A responsibility To ensure fairness. Fairness and transparency. In their bidding practices.

Speaker 2:

So it's all about trust and accountability. Accountability it's crucial for both buyers and sellers.

Speaker 1:

To do their research.

Speaker 2:

Look into the auction house, the auction house Reputation and even seek legal advice, if needed, even legal advice.

Speaker 1:

Luckily there are consumer protection laws.

Speaker 2:

There are.

Speaker 1:

To safeguard, to safeguard. Against fraudulent practices.

Speaker 2:

Against fraud.

Speaker 1:

That's reassuring to know.

Speaker 2:

Good.

Speaker 1:

Now, how has technology changed the game when it comes to these auctions?

Speaker 2:

Oh. Technology has revolutionized the way auctions are conducted.

Speaker 1:

Online platforms have broadened their reach, allowing buyers from all over the world to participate.

Speaker 2:

That makes sense. It does no longer limited by geography.

Speaker 1:

We also have.

Speaker 2:

We also have.

Speaker 1:

Virtual tours. Virtual tours and 3D modeling.

Speaker 2:

And 3D modeling.

Speaker 1:

Yeah.

Speaker 2:

Giving potential buyers, giving them A much more immersive experience?

Speaker 1:

Yes, and technology has made More accessible, more accessible.

Speaker 2:

And transparent.

Speaker 1:

And transparent, but I imagine there's still a need. There's still a need. There's still a need For human expertise.

Speaker 2:

Human expertise.

Speaker 1:

In this process.

Speaker 2:

In this process. Absolutely, technology is a powerful tool, but it's still crucial. Still crucial.

Speaker 1:

To have experienced professionals, experienced professionals Involved To ensure a smooth and ethical. Auction process.

Speaker 2:

Auction process.

Speaker 1:

So what's next?

Speaker 2:

What's next?

Speaker 1:

Where do you see the future?

Speaker 2:

Of high end.

Speaker 1:

Of high end.

Speaker 2:

Real estate auctions.

Speaker 1:

Heading.

Speaker 2:

Heading. Well, it's hard to say for certain.

Speaker 1:

It is hard to say, but for certain it is hard to say but given their increasing popularity, that popular and the way the luxury real estate market it's changing Is evolving.

Speaker 2:

Yeah.

Speaker 1:

It's safe to say that auctions will continue to play. They will A big role.

Speaker 2:

A big role. Do you think we'll see any groundbreaking changes or?

Speaker 1:

Groundbreaking changes.

Speaker 2:

Innovations.

Speaker 1:

Or innovations, absolutely, I think we'll see even more innovative.

Speaker 2:

Even more innovative.

Speaker 1:

Approaches To auctions, possibly incorporating technologies Like blockchain, artificial intelligence.

Speaker 2:

Artificial intelligence. Imagine even greater, greater transparency, transparency, efficiency, efficiency. It's fascinating to think about.

Speaker 1:

To think about the possibilities, the possibilities, it really is yeah, the world of high-end real estate auctions is full of Full of intrigue and complexity.

Speaker 2:

As we've discussed.

Speaker 1:

As we've discussed.

Speaker 2:

It's a market that requires.

Speaker 1:

It requires.

Speaker 2:

A realistic perspective.

Speaker 1:

A realistic perspective.

Speaker 2:

A cool head.

Speaker 1:

Yeah.

Speaker 2:

And a thorough understanding of the process of the process. I'm curious what are your thoughts on the impact?

Speaker 1:

on the impact of this trend of this trend on the overall on the overall real estate market real estate market? That's a great question. It's a big one. And one we'll need to explore further.

Speaker 2:

We will.

Speaker 1:

But before we do.

Speaker 2:

Before we do.

Speaker 1:

Let's take a moment. Let's take a moment To remind our listeners about a fantastic resource. A resource.

Speaker 2:

For staying up to date.

Speaker 1:

Staying up to date.

Speaker 2:

On real estate trends.

Speaker 1:

Real estate trends You're talking about www.2060.us. Right www.2060.us. Exactly, it's a goldmine of information.

Speaker 2:

It is a goldmine.

Speaker 1:

For anyone interested in.

Speaker 2:

Anyone interested in?

Speaker 1:

Navigating.

Speaker 2:

Navigating the complexities Of real estate, of real estate.

Speaker 1:

Whether you're a seasoned investor.

Speaker 2:

A seasoned investor.

Speaker 1:

Or just starting out.

Speaker 2:

Or just starting out. I couldn't agree more.

Speaker 1:

It's a good one.

Speaker 2:

It's an invaluable tool.

Speaker 1:

It's been a fascinating journey into this world where luxury meets risk, a world where even millionaires can find themselves on the losing end, on the losing end, the losing end of a deal.

Speaker 2:

We've seen how emotional.

Speaker 1:

Unrealistic expectation. Unrealistic Can lead to Lead to.

Speaker 2:

Disastrous outcomes.

Speaker 1:

Disastrous outcomes.

Speaker 2:

For sellers.

Speaker 1:

For sellers and how yeah the?

Speaker 2:

Fast paced.

Speaker 1:

Competitive nature Of auctions Of auctions Can be A trap.

Speaker 2:

A trap, a trap For impulsive buyers, for impulsive buyers. But it's not all doom and gloom.

Speaker 1:

It's not all doom and gloom.

Speaker 2:

We've also seen examples. We've seen examples Of auctions that exceeded expectations, of auctions that exceeded expectations.

Speaker 1:

That went well.

Speaker 2:

Properties that fetched impressive prices.

Speaker 1:

They're big prices. And the exciting potential, the potential For innovation, innovation In this space, in this space, what's fascinating is it's really interesting. The way auctions tap into, yeah, really Our deepest desires.

Speaker 2:

Yeah.

Speaker 1:

That yearning.

Speaker 2:

That yearning.

Speaker 1:

For exclusivity the thrill.

Speaker 2:

The thrill Of the chase the satisfaction, satisfaction Of owning something truly unique, unique.

Speaker 1:

It's almost like A high stakes, a high stakes game, a high stakes A blend of.

Speaker 2:

It's a blend Strategy Psychology.

Speaker 1:

And a touch of luck.

Speaker 2:

A little luck, exactly.

Speaker 1:

And as we conclude Our deep dive, as we wrap up. I think the most important takeaway.

Speaker 2:

The big takeaway.

Speaker 1:

Is this knowledge is power.

Speaker 2:

Knowledge is power.

Speaker 1:

Whether, you're considering.

Speaker 2:

Buying or selling A high-end property. A high-end property.

Speaker 1:

At auction.

Speaker 2:

Or simply intrigued by or just intrigued by this fascinating corner.

Speaker 1:

This corner.

Speaker 2:

Of the real estate market.

Speaker 1:

Of real estate.

Speaker 2:

It's crucial. It's crucial, it's crucial To do your homework, do your homework. Understand.

Speaker 1:

The risks.

Speaker 2:

And the rewards.

Speaker 1:

Consult with experts.

Speaker 2:

And your good fruits.

Speaker 1:

Never let emotions.

Speaker 2:

Don't let emotions Cloud your judgment. Cloud your judgment and if you're hungry for more insights into Real estate trends.

Speaker 1:

Real estate trends.

Speaker 2:

And real estate trends and investment strategies don't forget to visit 2060.us 2060.us. It's a treasure trove.

Speaker 1:

It's full of.

Speaker 2:

Of information that can empower you.

Speaker 1:

Empower you.

Speaker 2:

To make informed decisions.

Speaker 1:

Informed decisions Well, that brings us to the end, the end Of our deep dive. Informed decisions Well, that brings us to the end, the end Of our deep dive.

Speaker 2:

Our deep dive.

Speaker 1:

Into the world of.

Speaker 2:

High end Real estate auctions, real estate auctions.

Speaker 1:

We hope you found it. I hope you found it Inforciful. And engaging.

Speaker 2:

And engaging Until next time.

Speaker 1:

Until next time.

Speaker 2:

Happy investing.

People on this episode

Head Shot

David (Viacheslav) Davidenko

Host