Auctioning luxury real estate is proving to be an effective and innovative approach to rapidly closing a sale.
Auctions have been long associated with fine art; collector cars and fine wine but in the last decade have entered the luxury real estate industry. Grand Estates Auction Company, a pioneer in this segment has perfected the art of auctioning luxury real estate since 1999 with a closing rate over 90%. Founded by Val Devine and Stacy Kirk Reich, the concept of selling rapidly a property by absolute auction was crafted as a solution to the frustrations associated with traditional real estate practices.
Catering to high net worth individuals globally who recognize the benefits of buying and selling luxury properties at auction, Grand Estates Auction Company’s platform only variable is pricing. All due diligence on the property is done prior to auction day, buyers and sellers know that they are all participating on a level playing field.
For sellers, the advantage is that registered bidders are all qualified to buy their luxury real estate property on a non-contingent basis and that the property sells in one auction day. And buyers are able to determine true market value through the transparency of an auction.
“An absolute auction is the equivalent of the final match of the World Cup football tournament, if you’re not participating, you have no chance of determining the outcome, ” Leslie Paul Farkas, international business development manager of Grand Estates Auction company says, “Our sophisticated clientele wants to determine the outcome and they come prepared to bid and buy on auction day.”
The next buying opportunity presents itself under the theme of Sun, Ski, Surf. Grand Estates Auction Company is bringing to market three unique properties in world class destinations.
On Saturday March 24: in Miami, a 3 bedroom luxury condominium in the Four Seasons Residence on Brickell Avenue featuring breathtaking views from the 55th floor with top of the line décor by interior designer Carola Hinojosa.
Wednesday March 28: A slope side ski in-ski out property in Bachelor Gulch Colorado featuring stunning deck views, private club and proximity to Beaver Creek restaurants, shops and the Ritz Carlton will go to auction.
Wednesday April 4: An oceanfront estate in St Thomas, US Virgin Islands in the gated community of Red Rock Estates with mesmerizing ocean views and a stunning design once again provided by the team of Hinojosa Design. All properties will be sold at Absolute Auction with no minimum, no reserve on auction day.
Visit www.GrandEstatesAuction.com for details on participation for these upcoming auctions.