So how much is Mar-a-Lago worth?
That’s hard to say. The biggest problem is there are no comparable properties. No one builds mansions in Palm Beach like Mar-a-Lago anymore and those that did exist were demolished long ago, broken up or turned into a museum.
Trump, in an April deposition, justified his belief that Mar-a-Lago could be worth US$1 billion ($1.56 billion) by comparing it to the price the Mona Lisa or a painting by Renoir would command — the ultra-wealthy will pay a premium to buy something that’s one-of-a-kind.
Eli Beracha, chair of Florida International University’s Hollo School of Real Estate, agreed it’s difficult to assess the value of any unique property. The fact that Trump owned Mar-a-Lago would likely increase its sale price.
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“Some people are going to argue that not everyone likes Trump — some people would actually pay less because of that. … But the high bidder is probably going to be a person who buys it because it belonged to Trump,” Beracha said.
Pulitzer said the rock-bottom price for Mar-a-Lago would be US$300 million ($468 million). Thomson said at least US$600 million ($936 million). If uber-billionaires got into a bidding war, they said, a sale of a billion dollars or more would be possible.
The much smaller Palm Beach compound once owned by the Kennedy political dynasty sold for US$70 million ($109 million) three years ago.
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