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Teresa Giudice's Bankruptcy Estate Sale May Be Private

teresa giudiceTeresa Giudice’s lawyers say that they are hoping to conduct her estate sale privately, instead of at public auction, as was previously reported. “We concluded that we do not believe that a public sale would be in the interest of anyone,” I’m pretty sure Kim G isn’t gonna like that one bit, since she was planning to show up and buy as much as possible and then auction it off on eBay.

The move to bring the auction private instead of public was said to be less about avoiding public embarrassment and more about ‘common sense’. James A. Kridel, of The Kridel Law Group continued “We concluded that we didn’t think that the public sale would draw any additional money,” he explained further. “So it would be an exercise in futility.” He then goes on to say that with a private sale, the Giudice’s belongings could be sold off as a package deal, rather than one by one.

“Typically there would be an agreed upon price and it would be sold to an individual or individuals at a set price which we believe would be more than we could get at a public sale. And then it has to go before the court and usually it would have to be approved by the court.”
Well, with over $11 million in debt, I think that ‘getting more’ is pretty much the goal at this point! And since they’re trying to move the sale private, the current sale date of October 3rd is now up in the air, and the approval to move the sale private still has to be approved by a judge.
What do you think? Do you think Teresa is trying to avoid public embarrassment, and possibly the humiliation of Kim G buying up all her personal belongings, or is this a sound business move to make more money out of the sale?

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