PARIS HILTON’S realtor dad is bringing the past hurtling into the present after listing an 11-bedroom 16th Century Roman mansion that he plans on selling via an online cyrptocurrency site.
The unique method of sale will make history as the world’s first property to be auctioned on June 28.
Richard “Rick” Hilton, chairman of Hilton & Hyland and father of American socialite Paris Hilton, is selling the $38 million Palazzetto mansion through a cryptocurrency auction. The 16th century mansion is located in Rome and has eleven bedrooms and fifteen bathrooms.
$38 Million Mansion for Sale: Bitcoin Accepted
One lucky winner will get to live in the property that consists of three kitchens, along with a movie theatre, a spa and a gym. The building is also connected to the Palazzo Grande and is collectively known as the Palazzo Albertoni Spinola. Owners of the mansion sought Hilton & Hyland’s help in finding someone who would be interested in living in the mansion.
Hilton partnered with international real-estate crypto platform Propy to host the event. The auction will take place on June 28 (3 PM ET), with registration open until June 27. People are allowed to bid in US dollars or cryptocurrency after creating an account on Propy.
“The auction shows real estate’s growing trust in blockchain and provides cryptocurrency investors an opportunity to diversify and solidify their portfolio with a trophy asset,” said Hilton.
For the uninitiated, Blockchain is a worldwide software platform for digital assets and apparently it doesn’t matter what the age, or value of the “asset” is. This ancient palazzo is reportedly worth in excess of $US35 million ($AUS45.8 million).
Hosted by the reality star and Hollywood socialite’s father, Rick Hilton, who is the chairman of Hilton & Hyland, the sale is an online collaboration with Propy.com, a global property store and decentralised title registry.
“The auction shows real estate’s growing trust in blockchain and provides crypto investors an opportunity to diversify and solidify their portfolio with a trophy asset,” Hilton says in his online marketing material.
Last year 20 homes were reportedly sold with cryptocurrency worldwide and even more are set to sell this year.
To date, the most expensive home ever to be sold using cryptocurrencies was a seven-bedroom Miami estate purchased with 455 bitcoins, an equivalent value of $US6 million.
And while the online auction method is an amazing first for the international property market, the listing itself is also pretty fabulous.
The Palazzetto is a landmark home in the Italian capital built and designed by Giacomo Della Porta who was inﬂuenced by and collaborated with Michelangelo. Della Porta is also known for putting the finishing touches on the city’s famous St Peter’s Dome.
Made up of two independent, but connected luxury units, the Palazzetto can be accessed via several entrances.