Bidding Starts Today for $18M Dollar 'Crown Jewel of Saratoga'

Saratoga Springs home was once listed for $18 million dollars

This isn't the first time we've written about this incredible home for sale in Saratoga Springs, and it may not be the last. Perhaps our next story will be about how you were able to snag it for a reduced price during Friday's auction.

It's been listed on the market for about a year-and-a-half by Saratoga socialite Michele Riggi. Nicknamed "Pallazo Riggi", the exquisite home was originally listed in September of 2022, for about $18M, then it was reduced to about $12M.

Riggi Palace goes to auction "without reserve"

The exquisite Riggi Palace located in Upstate New York, nicknamed the "Jewel of Saratoga" still hasn't been sold. According to Platinum Luxury Auctions, it will go to auction "without reserve" today, Friday, September 8th starting at 6 pm.

The real estate term “without reserve” or “absolute” auction means that the seller has listed the property without a minimum price and will sell their property to the highest bidder no matter what once the auction closes.

According to News 10 ABC, Michele Riggi now lives full-time in Lake Placid and appears to be looking to move this property as quickly as she can.

Qualified bidders registered ahead of time with the Platinum Luxury Auctions website.

More about the home

Built for Ron and Michele Riggi back in 2003, this jaw-dropping estate is located at 637 North Broadway in Saratoga Springs, and includes a "stone-clad Rococo-style main mansion and additional structures spread across a 1.3-acre parcel of land."

Palazzo Riggi features a 6-bedroom, 13-bath main house that is roughly 19,000 square feet and adorned with many award-winning details, such as hand-painted murals, heated walkways, an elevator, marble floors, and a spectacular bridal staircase!

But that's only the beginning - see inside the Riggi Palace in our gallery below!

Other incredible amenities and details include:

gym with steam shower
bowling alley
a pet playhouse
movie theater
wine cellar
security building for guards to monitor the premises 24/7
five-car temperature-controlled garage with an office.
numerous fountains
a sparkling pool and spa flanked by a poolhouse

'Crown Jewel of Saratoga' to go to Highest Bid at Future Auction

Famed Riggi Palace will go to auction! See inside the exquisite estate of a Saratoga socialite and her late husband, for sale in Saratoga County.

Once on the market for $18M, the mansion known as the 'Crown Jewel of a Saratoga' will be sold at an upcoming luxury auction to the highest bidder.

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Source: Bidding Starts Today for $18M Dollar ‘Crown Jewel of Saratoga’