Why Trophy Homes Have Those Astounding Prices

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Those over-the-top asking prices for princely estates in Los Angeles – such as the $115 million starting prices for mansions in still-under-construction Park Bel Air – seldom end up selling for those prices, the Wall Street Journal reports. The big numbers often are just marketing ploys to get attention. “It’s almost as if there is no shame in wildly overpricing a listing anymore,” one appraiser said.

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