NBA Legend Michael Jordan’s Estate up for Auction

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Oct. 25 (Bloomberg) –- Concierge Auctions Co-Founder and President Laura Brady discusses the auction for Michael Jordan’s Legend Point estate. She speaks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

Feet of interior space.

Give us the rundown.

How do you describe this spread in highland park, illinois?

It is a phenomenal place.

It has great amenities in the house but also a lot of fun amenities like a regulation sized passed ball car -- basketball court.

What is the estimate?

It was originally listed for 29 million dollars.

Most recently it was $21 million.

There is no minimum bid requirements of the auction is just going to start wherever the bidders begin their bidding and from there the prices should go up.

Is this something new in terms of selling real estate and selling high end properties?

It is not like it is coming out a very -- a foreclosure sale.

Mr.

jordan is very akin to other clients we work with.

This property is very unique.

This is the same with other properties that we represent nationwide and we have gone international this year.

These properties are similar to when you think of fine art where they are one-of-a-kind.

The auction process really identifies the value for these properties.

What are some of these other properties?

If you like or why you, we have a property coming up in kona.

It is at his door property.

We have another home coming up in new jersey that is really fantastic and we have a great video of that.

What are some of the amenities of that?

That property is on a great spirit it has a great history.

It was actually built from the same stone as a number of the properties that are on princeton university.

It has a great pedigree behind it.

These ideas of auctions online, that is something that has already caught on.

Is this a chance that people are going to be able to bid him or might -- remote locations?

We have an online component that people can participate on their phones.

It is a live auction so we are going to have a live auctioneer.

How did you come to put this whole business together?

What is your background?

It has been quite a ride.

My partners and i began in general brokerage.

We were selling luxury properties ourselves to actually have that background behind us which helped.

We work alongside a listing broker so we are the auction firm.

We know luxury real estate that are brokerage partners which are local are experts in the market.

How do you get new properties to auction off?

A company sellers themselves or from the listing agents.

We have a number of listing partners we have worked with.

They understand that our process is right for their particular sellers.

56,000 square feet.

How many bedrooms?

Nine bedrooms.

I hear there is a library upstairs and downstairs.

There is.

The auction is november 22 so anyone that is interested could go to our website and register for more information.

This text has been automatically generated. It may not be 100% accurate.

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