Award-winning 18,000 sq. ft. mansion to be auctioned for half of its listed price by Ritchies Auctioneers

Over $4-million of contents including Birkin bags, Patek Philippe watches and precious gems also on the auction block

TORONTO, Jan. 14, 2014 /CNW/ - Ritchies Auctioneers will be auctioning a custom-built 18,000 sq. ft. Mississauga mansion on Sunday, Jan. 26 at 2 p.m. Originally priced at $11 million, Ritchies estimates the house will sell at around $5.5 million. Media is invited to view the estate on Wednesday, Jan. 15 from 10 a.m. to noon.

"Real estate deals like this come once in a blue moon," said Hon. Col. Kashif Khan, managing director, Ritchies Auctioneers. "A lucky consumer is going to get a great deal on a house, worth double than its list price."

The award-winning 23-room property, located at 2290 Saxony Court, stands on a premium lot situated adjacent to a ravine and prestigious golf and country club. With its four floors, the palatial home offers a high-end dream kitchen; an elevator; a custom-built wine cellar; a professional home-theatre and a luxurious master suite complete with a room-sized closet and a white marble master bathroom.

Four million dollars of content
Ritchies will also auction a $4-million selection of the mansion's contents including designer handbags; precious gems and jewellery; luxury timepieces; fine art and rugs.

Featured items in the auction include:

• An 18-carat yellow diamond appraised for at least $1 million
• A 21-carat sapphire valued at over $500,000
• An extremely rare Hermes Birkin crocodile handbag worth over $80,000
• A selection of Patek Philippe, Rolex and Brietling watches

"This is a five-star trophy property," said Khan. "This level of luxury deserves only the best to complete its interior. The selection available for purchase will be offered at a fraction of the cost at other vendors."

Like all Ritchies auctions, everything will be sold to the highest bidder. Bids will be accepted at the auction site or by placing proxy bids in person or by phone.

For a virtual tour of the mansion, click here.

Founded in 1868 as a small trading company, Ritchies Auctioneers went on to become Canada's leading auctioneer of fine Canadian art, fine international art, decorative art, jewellery, rare wine and other personal property since its launch as an auction house in 1967.  In 2011, the Ritchies name was purchased and has been re-invented by a new team as a world-class auctioneer of fine gems and jewellery, putting Toronto on the international stage. With offices in Toronto, New York and Hong Kong, Ritchies offers over 20 auctions each year to a broad national and international market. Its buyers include leading collectors, dealers, designers, curators and discerning private individuals who have come to trust Ritchies' expertise, experience and in-depth market knowledge.

SOURCE: RITCHIES

For additional information about the estate, images, or interview requests with Kashif Khan and/or realtor Sam McDadi, please contact: Patricia Lok, BuzzPR 416-777-2899 [email protected]