Pat Croce — former president of the 76ers; author of inspirational New York Times bestsellers; self-described pirate; museum founder; and Key West habitué and bar owner — put his Lower Merion Colonial on the market for $7.95 million at the end of last year.
Now Croce has entered into an agreement with Premiere Estates Auction Company to bring the 10,500- square-foot home to auction on Oct. 25 “to accelerate the sales process,” as a Premiere spokesperson puts it. It’s an absolute auction, which means that there’s no going back — the highest bid will take the property. Absolute auctions can be intriguing if there’s the possibility that no one shows up except a homeless guy who read about it in the paper at the Free Library, and has a crumpled dollar in his pocket but nothing more.
This isn’t Trading Places, though. When there’s an auction for an estate like this one, rest assured it will bring more than a dollar, and from someone who knows real estate and the Main Line. If I were a betting gal…well, but I’m not (I’m sorry, Atlantic City. I haven’t helped at all).