$100 million homes hit records as billionaires buy; 'There is a new class of collectible -- they're trophies now'.
| Jurisdiction | United States |
| Author | Boak, Josh |
| Date | 01 May 2015 |
Byline: Josh Boak
WASHINGTON -- The poshest of luxury homes are acquiring the cachet of a masterwork by Picasso or Matisse.
Rather than settle for garages of antique cars or a museum's worth of paintings, billionaires are increasingly willing to pay $100 million for homes that can serve as showcases for their fortunes, according to an analysis issued Thursday by Christie's International Real Estate.
''It tells you that there is a new class of collectible -- they're trophies now,'' Dan Conn, CEO of Christie's real estate brokerage, said of the most lavish homes being acquired.
The luxury housing market has shifted in the past year as the dollar has strengthened. Sales in Manhattan, Los Angeles, San Francisco...
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