The properties were initially on sale for a cumulative price of $46 million

The couple behind the largest for-profit chain of schools in the country is auctioning off four of their luxury homes.

Robert and Miryam Knutson decided to unload the properties about a year and half ago, after Robert contracted a “mystery virus,” according to the Wall Street Journal. Their chain of schools, Education Management Corp., declared chapter 7 bankruptcy earlier in the year.

The homes in Florida, Pennsylvania, Colorado and New Mexico were all on the market asking for a combined $46 million, but after a few months they decided to head to the auction block. The homes are being auctioned off on Jan. 10 and 12 without reserve prices.

Over the past year, auctions have become a more frequently-used approach to move properties that aren’t selling.[WSJ]

Read The Real Deal article by Erin Hudson HERE.

The owners are selling homes in Florida, Pennsylvania, New Mexico and Colorado that were previously individually listed for a combined $46 million

For years, Robert and Miryam Knutson traveled around the country, splitting their time among homes in four states. But when Mr. Knutson came down with a “mystery virus” 18 months ago, the couple decided to consolidate to a $25 million Los Angeles mansion, and put their four homes on the market individually for a total of $46 million.

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The Florida Gulf Coast property, once listed for $13.5 million, is being auctioned with no reserve price on Jan. 10

BY JENNIFER TZESES | ORIGINALLY PUBLISHED ON DECEMBER 24, 2018  |  MANSION GLOBAL

Situated on an idyllic waterfront parcel along Florida’s Little Gasparilla Pass, a Boca Grande retreat is up for auction without reserve on Jan. 10.

It was on the market starting in February 2018 for $13.5 million, before getting a price cut in August to $10.9 million.

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Platinum Luxury Auctions will offer the seven-bedroom, six-bathroom residence in a Jan. 10 auction without reserve, or a minimum bid.

December 23, 2018 11:00AM

A waterfront estate in the Fort Myers area is headed for a Jan. 10 auction without reserve, or a minimum bid.

Miami-based Platinum Luxury Auctions will conduct the auction of the 10,500-square-foot residence, which the owner previously offered for sale for $13.5 million.

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