Grand Estates Auction Co., the national leader in auctioning of one-of-a-kind luxury homes, sold $10.7 worth of premier properties during five June auctions extending from the Outer Banks of North Carolina to the foothills of Colorado.
Grand Estates’ extensive marketing program yielded a total of 1,040 inquiries, with more than 350 groups of prospective bidders touring the properties and a total of 79 registered bidders. The exclusive homes, ranging from oceanfront retreats to mountaintop estates, were sold through Grand Estates’ “absolute auction” method, with no set starting bid or minimum reserve, thus quickly establishing the true market value and assuring a prompt sale on a pre-determined day.
“In today’s weak real estate market with a surplus of luxury properties, multi-million-dollar homes can languish on the market for two years or longer. Grand Estates offers a better way that eliminates endless, inconvenient showings and disappointing open houses for sellers. Our buyers receive extensive information on the property before the auction and know the seller is committed to selling the home. It’s truly a win-win situation for both parties,” said Stacy Kirk, president of Grand Estates, with offices in Atlanta, Charlotte, Naples, Fla., and Vail, Colo.
The homes sold in June included five in the Charleston area on South Carolina’s coast. The Wadmalaw Estate, which sold for $2.65 million, featured five separate buildings, including a 6,800-square-foot main residence, garage space for nine cars, a guest cottage, staff quarters and a climate-controlled greenhouse, plus 900 feet of deep-water frontage on the Bohicket River.
Four newly constructed condos on Folly Beach, which sold for a total of $3.2 million, featured rooftop terraces, private courtyards and sweeping views of the Atlantic Ocean from every floor.
In Boone, N.C., a Charleston businessman looking for the perfect mountain home prevailed in a lively auction with a winning bid of $1.5 million for a 7,200-square-foot home situated on 20-plus acres atop a private ridge. Near Denver, a couple from California placed the winning bid of $1.57 million for a 9,000-square-foot log estate built into the mountainside. And in the final June auction, the winning bidder paid $1.775 million for a 8,200-square-foot home on the a private peninsula lot in the scenic Southern Shores section of North Carolina’s Outer Banks.
Founded in 1999, Grand Estates has successfully auctioned hundreds of luxury homes, in the $1.5 million to $10 million range.
Grand Estates auctions are open only to registered bidders, who are required to submit a refundable cashier’s or certified check prior to the auction. For details on upcoming auctions, our marketing program, bid registration requirements, pre-auction previews and other information, sellers and prospective buyers should contact Grand Estates Auction Co. at 800 552-8120 or 704 529-0026 and visit www.GrandEstatesAuction.com
