Disgraced gold dealer’s faux Versailles mansion in Florida available for $12.9m after being slashed to half price
- Mark Yaffe agreed to sell ten-bedroom chateau in Tampa after money problems but it has languished on the market for four years
A sprawling mega-mansion owned by a disgraced gold dealer is now half price as he desperately tries to find a buyer.
The lavish home, which takes influence from the Palace of Versailles outside Paris, is being offered for $12.9million – a substantial cut from when the property was first placed on the market four years ago at $25million.
Mark Yaffe reportedly agreed to offload his custom-built mansion in the exclusive enclave of Avila in Tampa, Florida to pay off multimillion dollar debts. He is head of troubled coin wholesaler National Gold Exchange.
Opulent: The Florida mega-mansion once owned by disgraced gold dealer Mark Yaffe has halved in price from $25million to $12.9million
Wealth: The grandiose reception room at the custom-built Tampa mansion is crammed with antiques
The mansion covers 29,000-square-feet and took four years to build to detailed specifications with marble archways, balconies and 14 fireplaces.
It has ten bedrooms and ten bathrooms along with 14 fireplaces, a grand ballroom, wood-paneled library, wine cellar and basketball court.
It was completed in 2004 but placed on the market only four years later.
The home has dropped in price three times since. However real estate agent Michelle Fitz-Randolph told tampabay.com: ‘When something isn’t selling, it’s always price, price, price. They are very motivated to sell.’
She said that there had been three potential buyers for the property including two from abroad.
Downsizing: Head of troubled coin wholesaler National Gold Exchange Mark Yaffe is selling his luxury mansion to clear millions of dollars of debt
Palatial: The huge mansion set in six acres draws influence from the Palace of Versailles in France
Rich surroundings: The mansion has had ‘three serious offers’ since halving in price, according to the realtor
Regal: The marble staircases were inspired by 17th century European architecture
Making a splash: Neighbors at the property include the New York Yankees’ Derek Jeter and former Tampa Bay Buccaneers coach Tony Dungy
Welcome home: The property includes a formal ballroom, wine cellar and wood-paneled library
Mr Yaffe used the home as a backdrop for his collection of rare musical instruments, which also cost millions of dollars.
The Avila estate is known for it sweeping driveways and secluded properties. Residents include New York Yankees’ captain Derek Jeter and former Tampa Bay Buccaneers coach Tony Dungy.
According to theIndependent Coin Graders‘ website, Mr Yaffe has been a numismatist (coin dealer) since 1975 and is a ‘respected expert’. He was the first ever dealer to sell a single coin for more than $1million.
He has been married to wife Christel since 1988 and the couple have two children Sarah and Stephen.
Secluded: Each of the properties in Avila have acres of land and are hidden at the end of sweeping driveways
Classic taste: Mr Yaffe collected rare and expensive musical instruments which were dotted around the property before he was forced to sell
Lap of luxury: The property has 14 fireplaces and ten bedrooms
Fine detail: The mansion took four years to build but was put on the market just four years later