Peloponnesian Palace

What: Main house with two bedrooms, two baths, two half baths in 4,306 square feet; guest house with four bedrooms and four baths in 2,153 square feet on 5.2 acres.

Where: Ermioni, Pelopponese, Greece

Amenities: About 100 miles southwest of Athens on the east coast of the Argolida region, set on a promontory with panoramic bay views. Gated driveway, fruit trees and grape vines, stone kiosk with barbecue and oven, fenced tennis court. Concrete and stucco construction, marble floors, underfloor heating. Wine cellar with 1,500-bottle capacity. Boat pier.

Asking Price: €6 million (about $7.4 million).

Opening Bid*: €5.7 million.

Agent: Elise Knapp, Ploumis Sotiropoulos Real Estate, Athens, Greece 011 30 210 364 3112

Due Diligence: In 1998, Hans Eikemans had this estate custom-built for him and his wife Elisabeth, who was born in Greece. Mr. Eikemans had just retired as president and chief executive officer of a Dutch company that he had founded and he planned to live in Greece full time. Three years later, the firm, H.Ek Installatie Maatschappij BV, which installs electrical, plumbing and heating equipment in large buildings, fell on hard times. So Mr. Eikemans bought it back, returned to his native Netherlands and resumed his former executive posts. Now he no longer has much time to spend in Ermioni. "I love Ermioni, but it's not worth watching 200 people who worked for me for all the good years lose their jobs," he says. Because there is no multiple listing service in Greece, and sales of properties aren't published, the highest sale price in the area isn't known.

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*The opening bid is Weekend Journal's estimate of a reasonable starting point for negotiations to buy the property, based on past sales, prevailing market conditions and interviews with local real-estate experts.

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