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Paris Real Estate: Here's Karl Lagerfeld's Apartment Sold for 10 Million Euros

The 3-room apartment, with panoramic views of the Seine and the Louvre, was sold for nearly twice the amount of its asking price.

Reading Time : 2 minut(s) - | Updated on 29-03-2024 17:16 | Published on 29-03-2024 15:49 

A spectacular notarial auction in the heart of Paris

In an atmosphere filled with history and luxury, the highly coveted apartment of Karl Lagerfeld, located at the prestigious 17, Quai Voltaire, has found a new owner for the staggering amount of 10 million euros (approximately 38,460 € / m2), almost double its initial listing price.

In order to participate in the sale, aspiring buyers had to deposit 1.06 million euros, or 20% of the starting amount. The sale was conducted by candle auction. This is an ancient and theatrical bidding method, where the course and conclusion of the sale are dictated by the burning of two small candles. If no bid is made during the successive burning durations, typically between 15 and 30 seconds, the last and highest bidder wins the auction. Each lighting therefore marks the beginning of a decisive phase, creating a climate of suspense and urgency, as bidders must act quickly and strategically, knowing that time is literally measured by the flame. This tradition, steeped in history, enriches each sale with a unique dimension, skillfully mixing tactics, chance, and a sharp sense of timing.

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A window on the Seine and the Louvre

Karl Lagerfeld, who passed away in February 2019, was not just renowned for his groundbreaking contributions to fashion at Chanel, Fendi, and through his own brand. His Parisian apartment (which his cat Choupette could not inherit despite his will) also served as a design studio, where he crafted some of his most iconic works. This 2,800 sqft property reflects his taste for avant-gardism and futuristic aesthetics, forsaking Parisian traditions for a sleek design, with concrete floors and immaculate white walls, punctuated by backlit bookshelves.

Situated in a 17th-century building, the apartment offers a breathtaking view of the Seine and the Louvre Museum. This feature, coupled with Lagerfeld's unique design, makes this property more than just a living space: it's a habitable work of art, a testament to the fusion between fashion, history, and interior design.

On the third floor, it consists of a monumental living room boasting large bookshelves and a luxurious, design ambiance, characterized by sleek lines, a large library, and sandblasted glass panels. In addition to its spectacular living room, the apartment includes a bedroom overlooking a courtyard, a dressing room, a fitted kitchen, a shower room, and a bathroom.

A monument of Fashion

The new owners, whose identities have not been revealed, are buying more than an apartment; they are acquiring a piece of fashion history, imbued with the spirit of Karl Lagerfeld. This purchase represents not only a first-rate real estate investment but also the preservation of a unique cultural and artistic legacy. Whether they choose to keep or transform the space, they will decide how to perpetuate the memory of the iconic designer.

The sale of this apartment is not simply a real estate transaction; it's a landmark event in fashion history and French culture. As it changes hands, Lagerfeld's legacy continues to live on, reminding us of his indelible influence on fashion, art, and beyond.

This auction, which took place under the auspices of Paris Notaries Services with the expertise of Maître Bertrand Savouré from the notary office Althémis, didn't only captivate the attention of real estate market players but also of fashion and cultural history enthusiasts from around the world.

"This property is exceptional both in terms of its location and size and the internationally renowned personality who lived there," explains Maître Thomas Jousselin, associate notary of the ALTHEMIS firm. "Because it is primarily an exceptional property, the sale was made at notarial auction to best enhance the value of the property, be a showcase for a national and international clientele, promote transparency and fairness as all potential purchasers are present at the same time to bid."

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