“The Waterfront Jewel of Bay Harbor” is sold following successful June 24th auction
– Grand Estates Auction Company proudly announced the decisive results of another successful luxury home auction this week. The company’s latest winner was the sale of a stunning waterfront mansion in the upscale resort community of Bay Harbor, home to the blue/emerald waters of Lake Michigan and the exclusive Bay Harbor Yacht Club. Once listed for $13.9 million, the property was sold for the highest price ever in Bay Harbor, Michigan this week for $11 million (80% of last list price) following a live competition among twelve properly registered bidders.
The seller stated: “After being listed unsuccessfully for over 18 months with the most prestigious real estate agency in town, we decided there had to be a better way. Doing our own research and interviewing several auction companies, including one associated with Sotheby’s, we decided to hire Grand Estates because of their long track record of success and, more importantly, everything they told us was verifiable. Now that the auction is over we’re thrilled we chose Grand Estates and would highly recommend them to anyone trying to sell their luxury real estate.”
The broker of record, Rik Lobenherz of Berkshire Hathaway, stated “Grand Estates produced a great result for the seller and, when partnered with the right real estate firm, truly delivered. Like us they work very hard to deliver the best result for their sellers and look forward to partnering with them again.”
Grand Estate’s intense six-week global marketing campaign generated over twenty three thousand (23,000) visits to the Bay Harbor auction detail website in the thirty days prior to auction. There were one hundred thirty seven (137) inquiries from across the US and other countries, fifty-two (52) in-person previews/tours of the property, and twelve (12) qualified registered bidders on site or bidding via phone on auction day.
Located on prestigious Peninsula Drive and meticulously finished with details reminiscent of a fine Swiss watch, this Architectural Digest-worthy waterfront home exemplifies luxury and timeless design. The master suite, overlooking Lake Michigan, includes an adjacent sitting room, two fireplaces, deluxe master bath with marble-tiled steam shower, exquisite dressing room with marble countertops and a private gym overlooking the harbor. The junior master suite is equally impressive. The gentlemen’s lounge, with mahogany wood paneling and glass wall overlooks a showroom garage, complete with a car turn-table, any true automobile collector’s dream.
Val Devine, CEO of Grand Estates, said “Nothing outshines this stunning waterfront home on Lake Michigan. Grand Estates is delighted we could market this dazzling property to the world and especially to our exclusive database of buyers. The new owner won a showcase home with his high bid, in a fast and smooth transaction, and now he and his family are going to have an amazing summer relaxing around the infinity-edge pool overlooking Lake Michigan. The seller is now free to move on to new ventures having gotten full market value of his investment.”
Grand Estates has more upcoming luxury property auctions scheduled in Nashville, TN, Georgetown, SC, and Newtown, CT this summer. If you or someone you know is interested in buying or selling a remarkable luxury property through Grand Estates, call 800-552-8120.
Grand Estates Auction Company is the leader in the niche market of auctioning luxury real estate, specializing in properties valued at $2 million and above throughout North America, the Caribbean, and select international destinations. Based in Charlotte, N.C., the company was established in 1999 and was the first of its kind. For more information and auction details visit www.GrandEstatesAuction.com.