Prices Slashed: Luxury Mansions on Sale

Have you ever wanted to live in the lap of luxury but didn't think you could afford to do so?

(ABCNEWS)
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Well now might be the perfect time to buy your very own mansion — marked down at auction.

With the real estate market struggling to stay afloat, more and more affluent sellers are turning to auctioneers to sell off their homes. And we aren't just talking about people who are facing foreclosure.

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"Most of the people who have high-end homes, they buy their antiques thorough auction, they buy their airplanes through auction, they buy their classic cars through auction. So they are used to that venue of sale and they don't look at it as a distressed type of thing," said Daniel DeCaro, whose Florida auction company has seen a spike in business.

This 4-bedroom home in Scottsdale, Ariz. was originally listed for $3.2 million. Its opening bid at auction is $1.5 million.