Ritz-Carlton Penthouse on Fort Lauderdale Beach To Be Auctioned to Highest Bidder

A $10.5 million Ritz-Carlton Residences penthouse in South Florida is set to hit the auction block later this month.The 7,031-square-foot penthouse, the largest single-level home for sale on Fort Lauderdale Beach, will be auctioned off on Oct. 30 during the Fort Lauderdale International Boat Show.At the show, thousands of boat enthusiasts and vendors from around the world converge on the oceanfront city for five days (Oct. 28–Nov. 1) to share their love of all things aquatic.The penthouse's sellers are counting on some of the show's well-heeled and sea-loving attendees to take advantage of the opportunity to snap up an oceanfront condo. The no-reserve auction will take place at at 1 N. Fort Lauderdale Beach, Apt. 2102, on Oct. 30, with bidding also allowed by phone. "No reserve" means that there is no "hidden minimum" that the property has to sell for.Loading...A penthouse on the 21st floor of The Ritz-Carlton on Fort Lauderdale Beach will be auctioned off on Oct. 30.1 OAK Studios"What an auction can do is create a defined sales event around an exceptional property," says Tara McLean, president and co-founder of Elite Auctions, which is handling the auction. "Instead of allowing th...