Thursday, April 22, 2010

Rich Divorcee Selling Off Treasures

As I began my day as usual,
 worrying so about the problems of the rich & famous,
I discovered this overwhelmingly interesting
piece from The Wall Street Journal,
and the urge to share with you was simply irresistable

The Wealth Report

Robert Frank looks at the lives and culture of the wealthy.

April 21, 2010, 12:30 PM ET.

Rich Divorcee Selling Off Her Treasures

Patricia Kluge is having the yard sale of all yard sales this spring.

First, Sotheby’s is scheduled this week to auction off more than 200 pieces of jewelry from her collection, including a pair of platinum and diamond pendant-ear clips set with almost 64 carats of pear-shaped diamonds and estimated between $600,000 and $800,000.

Also included are some “fancy-intense” yellow diamonds, suites of sapphires and rubies, and a sapphire and diamond Panthère wristwatch from Cartier circa 1985. The watch is estimated between $100,000 and $150,000.

But that’s not all. Ms. Kluge is also selling the contents of her storied 45-room estate in Virginia, called Albermarle House, which is near Thomas Jefferson’s Monticello. Sotheby’s will auction off the contents of the house in June.

The sale items include Chinese paintings, rare books, sporting guns, jewelry, lighting and decorative objects and gowns by Lacroix and Givenchy.

The house itself is also for sale, at the newly reduced price of $48 million, down from $100 million a year ago.
Why is she ditching it all? Apparently not out of financial need. The famed socialite, who made a fortune from her divorce from billionaire media tycoon John Kluge, is now in the wine business and wants to downsize.

Her Virginia winery, Kluge Estate Winery and Vineyard, is doing well and she’s planning to build a new home on the vineyard, which she says will more reflective of her “changing taste and more streamlined lifestyle,” according to Sotheby’s.

She also plans to travel more “so that she can enjoy her other homes.”

Downsizing, it seems, is all relative.

Go here for photos of the house: