The thing about "vanity pricing" is … it does provide exposure. There’s nothing quite like planting a for-sale sign at the top of the price spectrum to draw notice.
With that in the mind, the nation’s real estate attention span -- albeit fleeting -- is currently drawn to a Greenwich, Conn., mansion that tops Realtor.com at $190,000 million. For that, “you get your” (could not resist the sales speak) 50.5 acres, 13,519-square-foot Victorian mansion, 1898 building date, 12 bedrooms, nine bathrooms, 10 fireplaces, elevator, waterfront and bragging rights.
The Los Angeles market experienced a similar event when Beverly House in Beverly Hills came on the market years ago at $165 million and raised a few eyebrows. But it did not sell.
More recently, the Mediterranean-style honeymoon spot of Jacqueline and John F. Kennedy went the lease route at $600,000 a month -- equally mind-blowing.
Suzanne Saperstein’s nearby French-style mansion has the top Multiple Listing Service price tag for L.A. these days at $125 million. Fleur De Lys, as it is known, first listed at that price in 2007.
Many estates in the upper price spheres are not placed in the more public MLS system but are marketed as pocket listings. After all, it's a short list of billionaires who can actually afford these homes.