Going, going, gone! Auctioning luxury real estate is already an attractive option in the United States. This efficient and comfortable way of selling is now proving its worth to both buyers and sellers within the highest segment of the international housing market in Europe.
Stars including Michael Jordan, the Kardashians, as well as other millionaires and billionaires choose to auction off their residences because they want absolute integrity and privacy in addition to realistic prices and maximum efficiency. In their view, the possibilities offered by an ordinary real estate agency fall short. They do not want to have to wait months or more for sales and be in the public eye for that period
The process combines the advantages of the traditional brokerage profession with all the advantages of an auction: the competition, a realistic yield and the guaranteed short selling time.
This unique and innovative way of selling via auction will be in evidence next month with the sale of a luxury property in the exclusive Zagaleta Country Club.development. Ownerslink are the local listing agents. The five bedroom stunning contemporary Mediterranean villa redefines elegant luxury with floor-to-ceiling windows and variety of outdoor gathering places make the very best use of its spectacular mountain views.
With a build price of €6.75m, on a plot of 4828 sq.m and a build of 722 sq.m, the property will go to auction via American auction house Concierge Auctions between April 15-20 and with no reserve. But before you start opening your wallets to see if you have a spare €20 or so, be advised. Concierge Auctions has a system to weed out time wasters. You are expected to deposit € 100,000 before you can even participate in an auction at all. This is seen as a level of commitment from potential purchasers and, if the sale does not go through, the deposit will be refunded immediately.
The level of confidence in the information provided is reflected in the fact that sixty percent of buyers recently said that they would buy a house without visiting it on location, a figure backed up by the example ofa client from New York who bought a villa in Marbella last year for € 11 million without having visited the house. Concierge Auctions also can confidently guarantee that sales will not take longer than six weeks.