Mississauga mansion up for auction

A nine thousand square foot home on one of the most expensive streets in Canada is going up for auction this weekend. 2346 Doulton Drive in Mississauga boasts stunning architectural features, an imported Italian kitchen and 3 storey floor to ceiling windows. The home belongs to a man who was in the cosmetics business who bought the home back in 2007. He now wants it off his hands. Inside this house you find modern architecture,stunning details and a kitchen any chef would love.

Sam McDadi owns Sam McDadi Real Estate: “One of the highlights here is the Boffi kitchen which was imported from Italy that was an approximately 300k investment.”

To live here is to have one of the most prestigious addresses in Mississauga.

Sam says: “You’ve got top renowned builders here, you’ve got very successful business folks, some doctors, lawyers — so it really caters to the high end market here.”

The home is 20 years old but doesn’t look its age.

Sam: “If you go through the house top to bottom everything has been upgraded.”

With 2 million in upgrades and priced at 8 million, this home is in a niche market. But with over 6 months and no takers, the owners hope an auction and reducing the price will get it off their hands.

Kashif Khan is with Ritchies Auctioneers: “He’s willing to take a big loss. He rather do that than wait for someone to pay full price.”

When homes cost millions of dollars there are fewer buyers at the top. but like everyone else, the rich also love a deal.

Kashif says: “Even though it’s listed at 8 million, we’ll probably start the bidding at the 4 million range. It could go 5, 6 even 7 million depending on how much interest there is”

But who exactly will be doing the buying?

Most of the bidders are going to be investors buying the price, buy it hold it flip it renovate it a little bit.

The house won’t be the only thing up for auction. There is also a 400,000 Rolls Royce Ghost, a one million dollar necklace as well as Birkin bags and high end watches from Rolex and Patek Phillipe.

The auction is this Sunday at 2pm.