EDMONTON – A 4,500 square foot luxury condo was up for grabs at an auction Thursday afternoon. The auction was unreserved, which means the highest bidder – regardless of how low his price – could potentially walk away with a steal of a deal.
Since it was the home of Dave Ritchie, co-founder of Ritchie Brothers Auction House, it’s not surprising this was the method chosen for the sale.
“Because everything I’ve ever sold, that’s how I get rid of it. I believe in it. It’s the system that works,” he says. “And it’s the most honest system of merchandising there is. It’s the second oldest profession there is.”
Ritchie’s 20th floor three-bedroom property on Saskatchewan Drive boasts panoramic views of the River Valley and downtown skyline; and if that weren’t enough, there’s also a solarium and outdoor patio on the 22nd floor with even more views.
Among the condo’s opulent amenities are a three-car garage, a private wine storage room, a wet-bar, fireplaces, a whirlpool bathtub and multi-head shower, televisions that descend from panels in the ceiling, and a Steinway grand piano that can play itself.
The city assessed the property at $2.6 million, but of course, there were people at the auction hoping for a bargain.
Paul Desrosiers, who was there to buy a farm, said he’d be willing to cough up half a million for the property.
“Of course everyone will have their different max levels, but at the heat of the moment, you’d be surprised by what people will buy stuff for.”
In the end, Desrosiers was out of luck. Bidding started at $2 million, and within four minutes, it was scooped up for a cool $3.25 million.
Ritchie says he’s happy with how everything turned out. While he’ll miss the place, he has a new toy that has him excited: a boat. And not just any boat.
“It’s a very nice fishing boat set up for fishing. It has a very unique thing. It has a mast that goes right up to the sixth floor, and you can operate the vessel from the sixth floor…I think we’ll enjoy it a lot.”
He’ll soon be setting sail in it.
“Off to the Galapagos Islands. That’s a wonderful thing and I’d recommend it to everybody. Travel is what you want to do.”
As for the person who will be taking over his condo, it’s estimated the condo fees and taxes alone will likely cost about $3,800 a month.
With files from Fletcher Kent, Global News
Follow @TrishKozicka
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