Resort-style Mississauga estate mansion to be auctioned for half of its listed price

Also on the auction block: over $3-million of contents including a Rolls Royce, limited edition Rolex President, Birkin bags, Patek Philippe watch, fine diamond jewelry, Faberge egg and more.

TORONTO, April 21, 2014 /CNW/ - Ritchies Auctioneers will auction off a custom-built 9,000 sq. ft. estate mansion on Sunday, April. 27th at 2 p.m. Originally priced at $8 million, Ritchies expects bidding to start at $4 million, and a sale of approximately $5.5 million.

"This is a huge opportunity for anyone looking to purchase a spectacular home, on one of the most expensive streets in Canada, with homes upwards of $30 million," said Hon. Col. Kashif Khan, Managing Director, Ritchies Auctioneers. "Real estate deals like this don't come around often, and paying half its listing price is a dream come true."

The open-concept estate mansion is compared to both an art gallery and Muskoka styled resort, showcasing modern architectural finishes, soaring arched ceilings, and 3-storeys of floor to ceiling windows overlooking the Credit River. Located at 2346 Doulton Drive, the home stands on a premium one-and-a-half acre lot privately tucked away from the main street. Among its luxurious features are a custom imported Boffi Italian kitchen; enormous two and a half storey double-sided gas fireplace; sound-proof theatre; indoor swimming pool; gym; hot tub and jacuzzi; wrap-around backyard BBQ terrace; and hotel-style adjoining rooms.

"This home boasts approximately two million dollars in upgrades and improvements," says Sam McDadi, realtor and owner of Sam McDadi Real Estate Inc., Brokerage. "This is one of the most prestigious pockets in Mississauga with several mansions and estate-sized lots."

Important dates:

Media Day:	Tues, April 22nd, 10am – 2pm, 2346 Doulton Drive, Mississauga
Open House:	Wed, April 23^rd, 10am – 7pm
Auction 1412:	Sun, April 27th, 2:00pm, Oakridge Public School - 2060 Stonehouse Crescent, Mississauga

Three million dollars of content on the auction block
Ritchies will also auction over $3million worth of contents including:

• Rolls Royce Ghost, retail value of $400,000
• 78ct fancy yellow diamond necklace appraised at $1.1 million
• Rolex 18k white gold President with diamonds on the dial, bezel and lugs, valued at $80,000
• Patek Philippe 5960 Platinum Chronograph, valued at $50,000
• 5ct white diamond in a Tiffany's setting appraised at $150,000
• Faberge egg featuring rose guilloche enamel and rose-cut diamonds, appraised at $100,000
• Extremely rare Hermes Birkin light blue handbag value at $22,000

"This level of luxury in this home deserves only the best to complete its interior. The selection available for purchase will be offered at a fraction of the cost of other vendors."

A second home will be added to the auction block: 2290 Saxony Court, Mississauga.

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, images, and interview requests with Kashif Khan and/or realtor Sam McDadi, please contact: Anita Verma, BuzzPR , (o) 416-777-2899 (m) 416-998-5942 [email protected]