Scott Coles’ Family to Auction Estate Art and Memorabilia at Phoenix Mansion Where He Died

Scott Coles with his second wife, Ashley

Scott Coles’ family will auction off the deceased millionaire’s fine art and memorabilia collection on December 16 -- at the same mansion where Coles took his life last June.

Coles death shook the Phoenix business community this past year. He left behind three children and a young wife, as well as a loyal and highly-respected ex-wife. Following his death we wrote about Coles' rise and fall, as well as his intricate business dealings.

In all, Coles’ company, Mortgages Ltd., took about $1 billion of private-investor money and dumped it into real estate projects. Mortgages Ltd. filed for bankruptcy after Coles’ death, and a number of investors have since sued the company -- in an effort to retrieve the money they entrusted to Coles.

The auction will take place at Coles’ largest and favorite mansion at 4954 E. Rockridge Road in Phoenix

“There’s about $1.5 million to $2 million worth of stuff: sculptures, bronze, countless sports memorabilia, some music memorabilia, signed Hendrix guitars and Beetles memorabilia,” says John Nuccio of Higgenbotham Auctioneers.

“Mr. Coles estate is going to be selling 400 to 500 items from the home on Rockridge,” Higgenbotham added. “Nobody has stopped to think about the family. We’re trying to help the family regroup.” -- John Dickerson

KEEP PHOENIX NEW TIMES FREE... Since we started Phoenix New Times, it has been defined as the free, independent voice of Phoenix, and we'd like to keep it that way. With local media under siege, it's more important than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" program, allowing us to keep offering readers access to our incisive coverage of local news, food and culture with no paywalls.
John Dickerson
Contact: John Dickerson