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Bankrupt gold dealer’s Tampa palace heads to foreclosure auction

December 13, 2013 in Auctions, Gold, Investing, News, Precious Metals

By: Drew Harwell, Times Staff Writer (http://www.tampabay.com/) 12-09-13

TAMPA — An Avila mega mansion modeled after a 17th-century royal palace is now headed to the foreclosure auction block, the latest disgrace for bankrupt gold dealer Mark Yaffe and what was once Tampa Bay’s most expensive estate.

The 29,000-square-foot castle, which took seven years to build and went on the market in 2008 for $25 million, will become perhaps the biggest seizure from Yaffe, who bankruptcy trustees said used his National Gold Exchange, once one of the world’s largest precious coin wholesalers, as a personal piggy bank.

Completed in 2004, the Jacobean manor boasts 10 bedrooms, 13 bathrooms, a grand ballroom, a marble basketball court and 14 fireplaces. Bidding for the mansion at an online auction next week will start at $100.

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