|Published:||Jun 29, 2012 6:32 PM EDT|
|Updated:||Jul 01, 2012 6:32 AM EDT|
POMPANO BEACH, Fla. (AP) - Mike Miller will sell his house on Saturday morning. And he's not even setting a price.
The Miami Heat guard is auctioning off his three-story, six-bedroom, 9,000-square-foot waterfront house to the highest bidder - and there's no minimum price, either.
For most people, that would be a huge risk. For Miller, that's just part of the charm.
"There's risks with everything but that's my nature," Miller said. "The way I play basketball is the same way I do business, and that's aggressive. I think it's the best opportunity for the buyer. I'm excited for the buyer and for me personally, the seller. It gives me a chance to move off it quickly."
Miller's home has been listed for some time, and he eventually decided that auction was the best way to finally sell. Miller paid $5.4 million for the home in 2010. Estimates suggest the house could command around $9 million at auction.
Miller made seven 3-pointers in Game 5 of the NBA Finals, when the Heat topped Oklahoma City to clinch this season's championship. And while the house has tons of selling points on its own - 12-foot mahogany doors, marble ceilings, a cigar and wine room, a swim-up bar and, naturally, a basketball setup in the driveway - the fact that someone will be buying it from an NBA champion might help make it a bit more attractive.
Still, the notion of selling a house this way is clearly not for everyone.
"It is extremely novel," said Trayor Lesnock, the president of Platinum Luxury Auctions. "People are always very surprised that a high-end home would sell like this without the involvement of a bank or a lender. So it is very much a niche-market business. For high-net-worth individuals who have very little debt in their home, no debt in their home and they'd rather sell quickly because they can't stand waiting, this makes sense to them."
That's what appeals to Miller.
His kids aren't happy about the decision to sell - "they're still mad," Miller said - and he will miss many aspects of the home as well. Miller did many upgrades personally since moving in two years ago. But he wants to invest in some other properties, plus is looking forward to not having as long a drive to work at AmericanAirlines Arena, about 40 minutes south of the home.
Heat President Pat Riley said Thursday night the team has no plans to use its amnesty provision on Miller, who has three years and $18.6 million left on his contract. Miller has dealt with significant injuries during his time with the Heat and played through intense back and foot problems this season, but insists his decision to sell is not in any way tied to his basketball future.
"To me, this house was about as unique as it gets," Miller said. "But the goal now is to give another buyer a chance at the right price, so we both win."
On the Web: http://bit.ly/MikeMillerHouse
Follow Tim Reynolds on Twitter at http://www.twitter.com/ByTimReynolds