Teresa Giudice to Auction Off N.J. Mansion, Other Expensive Crap She Really Couldn't Afford

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Bravo's Real Housewives franchise is a huge hit because TV viewers love a glimpse into the lives of the rich and obnoxious. Well, one star is only the latter.

New Jersey housewives will soon have the chance to own part of reality TV history as Teresa Giudice and her husband, Joe, are set to auction off their stuff.

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Their 16-room, 10,000-square-foot Towaco, N.J., mansion's contents will be sold in a bankruptcy auction to take place there August 22, according to reports.

According to court documents, the couple owe $10.85 million to creditors - and that doesn't even take into account the newly-filed Danielle Staub lawsuit.

Teresa Giudice recently said of her fiscal woes: "When people fall, the way to success is to get up and learn from our mistakes. We are in that process."

We'd feel bad for Teresa and Joe Giudice, but we really don't. Unlike millions of Americans feeling pain from the recession, they lived way beyond their means.

Among the items up for bid will be a grand piano, two LCD TVs, a decorative urn, an antique pool table, a suit of armor, four chandeliers, a jet boat, a snowplow, framed paintings and numerous pieces of furniture, according to the auction company.

All stuff they couldn't actually pay for but purchased anyway, because these are the kinds of values fostered by the Housewives programs, and arguably society in general. Nice work. The reality couple reportedly filed for bankruptcy last year.

"Due to the economy, most of my husband's real estate ventures failed despite his hard work and effort," Teresa said, ignoring their shady financial practices.

"As a result, we looked to the Bankruptcy Court for a fresh start.”

Another fresh start idea: Savings accounts. Just saying.

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Teresa Giudice Biography

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Teresa Giudice is a Real Housewife of New Jersey. She was born in the Garden State and is married to a guy named Joe. She has three... More »
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Teresa Giudice