Still time to contribute to the David Ogilvy Annuity Fund

Ugly, sure, but what a bargain!

97 Clapboard Ridge, the year-old listing for which expired at $16.8 million this morning, is back at $12.7. There's only one person who could possibly sell this house at anything close to even its new, improved price, and that's Ogilvy himself, as he's demonstrated before.

In 2004 he listed it for $15.5 and sold it just six months later to his own clients for $11.5. Those people  spent a fortune completely renovating and expanding the house and then, in turn, retained him to list it in 2006, for $13.8 million. It took two years, but Ogilvy finally managed to sell it to one of his own clients in 2008, but for just $10.350. Oops; bad market, guys.

Probably because of their appreciation of his wrangling the price down to such a bargain level, Ogilvy's buyer-clients gave him the listing for their own resale last June, at the aforesaid price of $16.8. The result was as expected, and we now have a new one.

So since 2004, Ogilvy's been on both sides of this trade five times - it won't surprise me in the slightest if he increases that to six by the time this finally moves.

Nice work, if you can get it.