Hawaii Home Owned and Designed By Cher Auctioned for $8.72 Million

Concierge Auctions (www.conciergeauctions.com), the leading luxury real estate auction company, today announced the sale of Cher’s home in the exclusive Hualalai Resort in Hawaii to a buyer from Arizona for $8.72 million. The January 18 auction included the successful sale of five properties in Kona, Hawaii, for a total of more than $19.4 million.

In addition to Cher’s home, a property at 72-3209 Ka Nehe Place in the Kuki’o Golf and Beach Club and Residences selling absolute was purchased by a buyer from Beverly Hills for $4.95 million. A second home selling absolute in Kuki’o, at 72-3205 Punaloa Place, was purchased for $3.85 million. Collectively, the prices achieved for the homes in Kuki’o were $10 per square foot higher than the average price per square foot for other homes sold in the Maniniowali section of Kuki’o over the past six months. Additionally, two home sites in Kuki’o sold for $990,000 and $962,000, respectively.

“The auction process is clearly becoming the selling option of choice for exclusive luxury properties, and we look forward to presenting many more opportunities in premier destinations nationwide over the coming months,” stated George Graham, CEO of Concierge Auctions.

The efforts of the Concierge Auctions team and its partners resulted in 110 interested buyer prospects and 25 registered bidders from throughout the world, including seven phone bidders. In less than a month, the website experienced over 35,000 visitors from 126 countries, led by the United States, Canada, UK, Australia, Mexico, Japan and Russia, and all US states, led by California, New York, Hawaii, Texas and Georgia. Advance interest in the auction included press coverage in hundreds of leading media outlets including the Wall Street Journal, Los Angeles Times, CNN Money, the Today Show and Access Hollywood.

“Concierge Auctions utilized the latest technologies and marketing programs, combined with the untiring efforts of our experienced personnel, to properly educate and attract an unprecedented number of high-profile buyer prospects, many of whom were not familiar with the outstanding reputation of the Hualalai and Kuki’o resorts and their properties. This in turn enabled us to achieve exceptional results for our clients,” Graham stated.

“Following our successful sale of two Hualalai homes alongside Concierge Auctions in August, we were pleased to work with their team again,” stated Rob Kildow, Principal Broker at Hualalai Realty. “Again, the outcome was a great result for all parties involved.”

Cher’s 8,800-square-foot Balinese style residence, located at 72-122 Lau’eki Street in the Hualalai Resort, features a gated center courtyard leading to the main residence, which includes a master wing, great room, kitchen, dining room, outdoor living area, and infinity pool with spa overlooking the Hualalai Golf Course and the Pacific Ocean. The property at 72-3209 Ka Nehe Place in Kuki’o was newly designed and furnished by its owner, architect and interior designer Jennifer Day.

The auction began with a call for donations to the Salvation Army’s relief efforts in Haiti, which raised more than $23,500 from registered bidders.

For more information on Concierge Auctions and its services, visit www.ConciergeAuctions.com or call 888-966-4759.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide. A leading provider of services for individual and institutional owners of luxury residential real estate, Concierge Auctions is revolutionizing the industry by offering an accelerated marketing process that obtains fair market value for high-end properties in a determined time frame. Building on a centuries-old method for selling the finest art and antiquities, the company combines the latest technologies and marketing programs with experienced personnel to generate the maximum value for the most premier properties in an open, competitive forum.

As a preferred auction provider to Sotheby’s International Realty(R) and other luxury brokerage firms, the company has executed auctions throughout the country, from New York to Hawaii. The company’s database includes more than 10,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories. The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years. For more information, call 888-966-4759 or visit www.ConciergeAuctions.com.