Photos: €4 million French chateau sells for... €2 million at auction

An American couple who owned a luxury château worth an estimated €4 million, have sold it at auction for just over €2 million. 

The auction lasted two weeks, from October 31 to November 14, with a starting bid of €1 million. 

The Château de Tournon in Montauroux (35km northwest of Cannes) dates to the 16th Century, with 528 m² of living space and nearly 6,000 m² of landscaped grounds.

Evolving attitudes towards auction sales in France

Frédéric Barth, the estate agent at Côte d’Azur Sotheby’s International Realty, said of the decision to sell at auction:

“Historically, auctions in France have been associated with liquidation or repossession, often perceived as a last resort for selling deteriorating property. This image contrasts with that of Anglo-Saxon countries, where auctions have long been synonymous with exclusivity and opportunity. 

“Today, this model is changing: in the luxury property market, voluntary auctions are becoming a lever for value creation and transparency, attracting an international clientele and optimising transaction times."

Wine cellar, spa and swimming pool 

The Provençal château has 12 rooms including six en-suite bedrooms, and was purchased two years ago. 

While the property was intended to become the family residence, a professional opportunity abroad prompted the couple to sell.

The estate also encompasses a natural wine cellar, a spa annex, expansive terraces, a 74 m² double garage, and two stone staircases leading to a 30 m² outdoor swimming pool. 

Renovation work required

The property’s interior still requires extensive renovation and design, with estimated costs of between €600,000 and €1 million.

Structural and technical work including electricity and plumbing has already been completed.

Mr Barth told The Connexion that the château “offers a rare opportunity to reinvent a 16th-Century heritage property into a prestigious residence combining authenticity, elegance and Mediterranean art de vivre.”