What happens when a hotel sells everything it has?
What happens during a hotel liquidation sale? Chaos, that's what happens.
Last week, a New York City socialite I follow on Instagram posted that the Gramercy Park Hotel — a posh hotel heavy on design that closed during the pandemic — was selling everything it had.
As a hotel reporter and fan of the now-defunct hotel that was once a fixture of New York's social scene, I grabbed my bag and bolted. Who wouldn't want to own a piece of the storied hotel or of the Rose Bar, which played host to some of the world's most famous celebrities? Thankfully, the hotel was just a few short blocks from the office.
Arriving on the scene, I felt like I was back at college move-in day. People stood in corners holding large framed prints and chic gold lamps trying to call Ubers. Multiple moving trucks were double-parked on the street while muscled-up men were loading them with massive wooden bed frames, velvet wingback armchairs and mattresses.
My 1st hotel liquidation
Welcome to the world of hotel liquidations, the art of clearing a defunct hotel of all of its possessions to make way for a new owner, a demolition or an overhaul of the building. In the case of the Grammercy Park Hotel, a messy legal dispute led to the liquidation.
We've all seen a version of a liquidation sale, though more likely in a mall or shopping center where a closed store hangs massive signs reading, "EVERYTHING MUST GO."
And when they say everything, they mean everything.
At the Gramercy Park Hotel, the signs outside read in all caps, "PUBLIC AUCTION/LIQUIDATION COMPLETE CONTENTS OF HOTEL."
Though I heard rumors of long lines to enter, visiting at the end of the day got me through the doors immediately. There were dozens of moody black-and-white framed prints, lamps of different heights and colors, massive wooden bed frames with mattresses, fancy china and crystal glasses, coffee-table books, industrial kitchen equipment and mountains of minifridges.
"Let's get one and I can charge you for everything you drink in the apartment," I overheard a woman say to another with a laugh.
Items were not tagged with individual prices but a local news station reported that prices would run between $25 to $2,500. To pay, cash was king but Venmo and Zelle were also available.
Inside, people stood over items they liked and shouted into the void of the former lobby asking for prices. It was bedlam, but the auctioneers from Best Buy Auctioneers were doing their best to keep up with the constant requests.
Though I wasn't trying to spend any money, I did find out that the large framed photo prints started at $200. I decided to pass on the options I saw that were a little too abstract for me.
Near a large couch, I overheard a couple with a toddler in a stroller debating whether or not they should buy some decorative pillows. The woman made her case for the purchase by reminding her partner that they had their very first date at the Rose Bar.
Items that were already sold had stickers with names on them — and at that time the majority of items were stickered up. "But don't worry," we were told by voices coming from different directions; more furniture was being brought down from the rooms as space was made on the crowded lobby floor.
The following day, after word had really gotten out about the sale, I returned to the Gramercy Park Hotel. This time there was a line down the block, around the corner and down the subsequent blocks. People were waiting hours for the chance to buy a used hotel bathrobe, a rug or a crystal Champagne glass.
Everything must go
Trust me, hotel liquidations aren't new. Hotel liquidation sales happen all the time, but you only really hear about the big ones.
The first time I heard about a major sale was back in 2017 when hundreds of people lined up to buy anything and everything from the shuttered Trump Taj Mahal casino in Atlantic City, New Jersey.
The Gramercy Park Hotel had just 180 rooms, but the Taj Mahal had more than 1,200, meaning there was a lot to be had. Some of those items included poker tables for $550, $8 irons and even three $250,000 chandeliers that a potential buyer from Texas flew in to check out, according to The Guardian.
Sometimes, hotels get rid of historic loot through more organized auctions, as was the case with New York's Waldorf Astoria. In 2020, over 80,000 items from the defunct hotel were sold via online auction, including items from the Peacock Alley bar and the Elizabeth Taylor Suite.
These items were all moved from New York to a mall in Massachusetts for in-person viewing prior to the online auction. Guests were told to expect to bid between $80 and $100 for a Venetian silk pillow, between $800 and $1,200 for a 13-piece tea set and between $300 and $500 for the door to the Churchill Suite, where Winston Churchill stayed during visits to New York, the New York Post reported before the auction two years ago.
In Las Vegas, hotel liquidations might be even more common. Just think about how many major casinos operate there that semiregularly refresh rooms or change hands and rebrand — and think about how massive they are. In fact, there are year-round liquidation showrooms where you can snag pieces from Strip and off-Strip resorts.
Bottom line
In New York, word of sample sales and one-of-a-kind shopping experiences spread fast — and getting to be one of the early few to poke around the treasures on offer at a much-loved and storied hotel was a really exciting experience.
I'm bummed that I left empty-handed, but I also wasn't in the market for an oversize green velvet couch at that exact moment.
However, if you do happen to hear of a hotel liquidation (from an iconic hotel or not) why not take a peek? Maybe you can snag a cheap minifridge for a kid off to college, lightly worn furniture for a guest room or even that big piece of wall art you've been looking for.
Or who knows, you might just walk out with a $250,000 chandelier.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees