Greater fool theory being tested: Scottsdale "Wine Lofts" going for over $800,000 by offering $477 29-bottle wine chiller. Ha!

These lovely apartments, in a non-descript part of Scottsdale, are being marketed to the utter last fools. I doubt any person or entity who has put their 5% reservation fee down intends to live in these lovely "wine lofts" - instead the likely buyer is "that guy" - the soon to be defunct "condo flipper". But it's over here, so it'll be interesting to see what these "wine loft" developers do with their land and nice marketing brochures.

My guess - chapter 11

By the way, what the F is a "wine loft". Has marketing sunk to such a low that such terminology could create the demand for $800,000 apartments in a city where $80,000 would have been fine 5 years ago?

I hope you get a closet full of Rothschild '47 for your $800k

So, a little research. These "wine lofts" come with a 29 bottle wine chiller. Part of your $800,000 purchase. Guess what. The retail on such a unit is $477. That's right. $477. I guess the other $799,523 goes towards those nice marketing folders.

Oh, their web contact form doesn't work either... maybe they should invest a bit more there, and less in stock art graphics

Ha!