What would you pay? $13.9M Newport estate’s price drops $50,000 a day till it sells

After two years with their home on the market, the owners of a multimillion dollar Newport Beach estate will reduce its price by $50,000 — every day until it’s sold.

The ad reads “Going, Going, Gone,” which is the plan for the owners of the waterfront estate at 2210 Channel Road who, along with listing agent Coleen Brennan of Engel & Vöelkers, decided it was time to shake things up and get the home sold.

The price two years ago for the estate sitting on three lots was just under $20 million. It has been reduced over the years and on Saturday Brennan listed it as $13,995,000.

“In my 29 years in real estate, I’ve never seen a sales strategy like this,” Brennan said.

The price cuts began Sunday, the day after Brennan placed the ad describing the plan.

“We needed a new campaign to re-engage buyers who had been watching it and new buyers to give it a sense of urgency,” she said.

The owners have received two offers since Saturday’s ad, one for $10 million and the other for $11 million, according to Brennan, but there will be no countering by the owners. She said whoever buys it will pay whatever price it is that day.

“It will be sold, the question is how many days from now, for example in 20 days it will be a million less,” Brennan said.

The 6,880-square-foot home on a 12,000-square-foot lot has a lemon grove, eight bathrooms, six bedrooms, a pool, a dock for a 70-foot yacht, a 2,500 bottle wine cellar and is constructed mostly from repurposed wood and brick.