Photos: €4 million French chateau has €1 million auction start price

A young entrepreneurial American couple are selling their luxury chateau at auction tomorrow (October 31). It has an estimated value of €4 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.

Bidding will start at €1 million and will last for two weeks, ending on November 13. The winning bidder will be announced the following day.

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.”