I was the CEO of Arby's. I'm auctioning off my Texas mansion with a lowly $2.5 million starting bid because my wife and I are getting older and neither of us wants to live here alone.
This as-told-to essay is based on a conversation with Len Roberts, 74, about his choice to auction off his nearly 12,000-square-foot home on 1.82 acres in Fort Worth, Texas.
"I always dreamt, if I ever made it in life, I wanted a limestone home. So that was my condition," Roberts said.We built this home in 2004 and put in $12 million to build it. The replacement value, done by AIG, is $21 million. It's been like that for five years. An auction is the best way. The auction house recommended $2.5 million be an entry point, and we trust their expertise. We don't want to do anything to discourage anyone from participating in the auction.My wife really built this home.
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