Miami home on Billionaire’s Row looks to set record with 50% daily price hikes
One
homeowner
in
Miami
is
employing
a
unique
pricing
strategy
in
his
attempt
to
sell
his
property
on
a
stretch
of
road
known
as
Billionaire’s
Row.
As
of
Wednesday,
the
asking
price
of
the
3,534
square
foot,
three-bedroom,
three-and-a-half
bath
house
was
over
$288
million.
This
astronomical
asking
price
is
the
result
of
homeowner
Matthew
Barnes,
the
founder
and
CEO
of
GO
VIP
Worldwide,
raising
the
asking
price
50%
each
business
day
the
property
remains
on
the
market.
You
might
be
asking,
“Why?”
Barnes
says
it’s
all
about
creating
a
narrative
around
the
home,
and
despite
the
asking
price,
he
says
buyer
interest
in
the
property
is
“off
the
charts.”
Barnes
has
stated
that
he
does
not
view
this
as
a
novelty
listing
and
that
the
compounding
asking
price
is
not
a
claim
about
the
property’s
intrinsic
or
appraised
value.
He
also
says
that
the
asking
price
is
not
a
prediction
of
the
property’s
eventual
sales
price.
However,
Barnes
does
believe
the
property
could
be
worth
$200
million,
it
just
depends
on
the
buyer’s
perspective.
“Absent
a
deal,
this
property
could
be
worth
$200
million
or
more,
but
only
if
the
buyer
sees
the
intrinsic
value
I
see,”
Barnes
said.
The
property
was
listed
on
January
16
by
Beycome,
a
flat-fee
MLS
listing
service,
for
$7.5
million.
Barnes
first
raised
the
asking
price
on
January
27
to
$11.2
million.
After
that,
he
began
raising
the
asking
price
by
50%
per
day.
The
home
had
previously
been
listed
by
another
firm
for
$9.9
million
from
early
October
2025
until
January
15.
According
to
Barnes,
the
asking
price
will
continue
compounding
indefinitely
if
a
deal
is
not
reached
with
a
buyer.
Public
records
show
that
Barnes
purchased
the
Miami
property
in
May
2024
for
$5.308
million.
A
marketing
gimick?
Although
Barnes
acknowledges
that
the
home
itself
is
a
thing
of
value,
he
believes
that
the
narrative
he
is
creating
around
the
property
is
also
viewed
as
a
thing
of
value
by
potential
buyers.
The
listing
already
exceeds
the
highest
advertised
home
price
valuation
ever
recorded
in
the
U.S.,
which
currently
stands
at
$165
million,
according
to
Guinness
World
Records.
While
Barnes
is
unsure
if
a
similar
pricing
strategy
would
work
on
a
lower-priced
listing,
he
feels
like
it
could
be
worth
a
try.
“Listing
a
property
is
about
good
faith,
ethics
and
judgment.
Even
while
the
world
watches
this
spectacle
unfold,
serious
offers
need
to
be
weighed
carefully
and
it’s
a
delicate
balancing
act,”
Barnes
says.
Still
he
believes
there
is
no
harm
in
dreaming,
even
when
trying
to
sell
your
home.
“Why
would
anyone
put
self-imposed
limits
on
themselves
or
their
property?
That
generally
only
works
if
you’re
willing
to
play
by
the
rules
of
convention,”
he
says.
“I
prefer
to
rethink
the
rules
entirely.
The
system
is
designed
so
everyone
does
things
the
same
way,
rarely
questioning
why.
I
take
a
different
approach,
and
I
believe
trying
new
methods
can
benefit
everyone.”
