2290 Saxony Court, the latest fake mansion poster child, sells at auction.

On Thursday we told you about 2290 Saxony Court, the latest fake mansion picture poster child, which used photoshopped pictures to create the impression of a sprawling mansion out of an overbuild monstrosity on a cramped lot.

Originally listed at $11 million, this developer's folly languished on the market with price cuts in May 2012 to $8,900,000 and in June 2013 to $7,500,000.

After going belly up, the house was put up for auction and the same misleading photos were used in another campaign where the presstitues allowed themselves to be used to create a the impression of a rocking 50% off deal.  Would overseas buyers step in to engage in a bidding war for a property, sight unseen?

Well today the hammer fell and the final selling price was $6.2 million.

I wonder if famed photos of the non-existant front yard were included?

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Thurs Post #1: 2290 Saxony Court: the latest fake mansion picture poster child

Yesterday we highlighted the barrage of news stories promoting the upcoming auction of 2290 Saxony Court in Mississauga, Ontario.

Languishing on the market since it was constructed, the builder has turned to an auction to hawk the home that originally carried an $11 million price tag.

As part of the hype, in which Richie Brothers outwardly admit they hope a lower price will trigger a bidding war, the $5.5 million opening bid is promoted as half price.

Our interest in the property was piqued when a reader in this online Windsor newspaper story noted something was amiss. 

The comment says, "the front of the property has been Photoshoped; the sidewalk and curb are where the pillars and fence are. There is no more setback to this monstrosity than there is to a bungalow on Bloor. I hope no one is bidding online based on those pictures. Unless there is a disclaimer along with the description and photos of this place it constitutes fraud."

Really?

The main nighttime entrance photo above is featured prominently in photo gallery for the house. As is this daytime photo:

There's also this 3D rendering of the overall property:

Look at the wide, sweeping driveway.  Look at that lush, huge front yard.

Wow.

The builder, Ambassador Fine Custom Homes, has a masthead on their website that proudly proclaims: "Building Trust."

When you see the interior pictures, images of caviar wishes and champagne dreams abound.

All of which is surely designed to catch the eye of intending international buyer (a Ritchie Bros spokesman outwardly admit their market here is beyond the Mississauga area - probably overseas).

But take a closer look at this 'house' via google street view. Because when you do, Ambassador's slogan of 'building trust' suddenly takes a vicious beating:

As you can see 2290 Saxony Court isn't some wide open country estate, it's a large house squeezed into an end-of-cul-de-sac residential property (click on all images to enlarge).

Umm… what the hell happened to the sprawling front yard? Back to the 3D rendering, check out the sweeping driveway and the way it wraps around the side of the house.  Look at all the space…

Err…. what space?

(Isn't the google image of the garbage bag plunked next the encroaching neighbour's driveway priceless?)

Now let's take a look a real aerial view and compare it to the 3d rendering:

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Do you get a sense of how compact the property is from any of the pictures in these photos?

What about in the pictures from the Toronto Star spread?

Not only do the news stories fail to give us any perspective on the real layout of the actual property, none make note that in May 2012 this house was listed at $8,900,000. Nor do they tell us that in June of 2013 the house was pimped for only $7,500,000.

So why is the inflated $11 million figure prominently bantered about?

To say these photos bear a passing resemblance to the reality of the property is beyond generous. And if the builder is wiling to mislead buyers with photoshopped promotional exterior pictures, you have to wonder what other surprises await on the inside.

Yet our gullible media, rather than expose the false pictures for what they are, simply regurgitate the press release and provide free advertising for a builder who seems to do everything but 'build trust'.

Sigh.

Of course why would we expect mainstream newspapers like the Vancouver Sun or the Toronto Star to ferret out truth and protect the public interest?

It's not like they have had to rationalize publishing fake mansion pictures before, right?

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Will this $11 million Mississauga mansion sell for less than half it's value at auction? Or is the media being played again?

This is 2290 Saxony Court in Mississauga, Ontario.

Its an 18,000 Sq tt, 4 Storey, 23 Room, 9 Bath French Chateau Inspired Mansion. From the realtor description:

This Masterpiece features hand picked creme marfil marble from Spain, 10 Ft Honduran mahogany doors, 23 Ft coffered ceilings, plank sized North American white oak flooring, floor to ceiling hand carved marble fireplace mantle, A $1 Million Hvac system, automated smart system, an 8 car garage, a wine cellar. 

Extras: a state of art theatre room + a games room complete with heated hardwood floors and a bar! The exterior boasts buffed chamfered Indian limestone (approx cost $1 Million), 25 tons of structural steel framing, 2′ water nain, 200 Amp generator.

Supposedly the was originally priced at $11 million (curiously the numerous press articles don't list what it's appraised at - we've all seen that story before) and the owners, in an attempt to sell the home quickly, have turned to Ritchie Brothers to auction the house.

The 23-room mansion, located at 2290 Saxony Court, off of Mississauga Rd. just north of the QEW, was originally priced at $11 million, but the auction company is estimating the house could sell for about $5.5 million as the owners are looking to sell quickly.

However, Ritchies Auctioneers managing director Kashif Khan said the mansion could ultimately wind up selling for more than the estimated price. He said auctions work best when there's a unique item up for grabs and it's priced right because that leads to competitive bidding. Khan said he expects that to happen with the Mississauga home.

Ahhh, suddenly the picture clears.

Ritchie Bros is attempting to generate advertising for their auction and a bidding war. The hook?  Announcing the house MAY sell for half it's original listing price of $11 million.

Meanwhile the house gets worldwide media attention with newspapers, like this photo spread in the Vancouver Sun.

Is it working?

The company has received calls about the property from places such as Asia and South America and there has also been interest here in Mississauga from well-known, wealthy locals, said Khan.

Curiously this online Windsor newspaper story contains an interesting reader's comment about the photo of the mansion above:

The comment says, "the front of the property has been Photoshoped; the sidewalk and curb are where the pillars and fence are. There is no more setback to this monstrosity than there is to a bungalow on Bloor. I hope no one is bidding online based on those pictures. Unless there is a disclaimer along with the description and photos of this place it constitutes fraud."

Misleading photoshopped real estate pictures in a real estate promotion picked up by media outlets and run worldwide?

Haven't we seen this before?

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