On May 30, Sotheby’s London saleroom hosted an auction showcasing luxury real estate for the first time in its 280-year history. The headline auction item is a castle in the Hudson Valley.
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For the first time in its 280-year history, Sotheby’s Concierge Auctions announced that Sotheby’s London saleroom will host an auction showcasing luxury real estate on May 30.
The inaugural Excellence in Global Properties auction, also live-streamed on conciergeauctions.com and sothebys.com, saw 83% of the lots sold, with total bids exceeding $160 million.
Nearly 200 attendees attended the event, with 30 potential luxury property buyers from North America, Europe and Asia bidding individually, either in person or online through a team of experts.
Frank Trunzo, chief auctioneer at Sotheby’s Concierge, and Michael Macaulay, vice chairman of Sotheby’s Contemporary Art and chief auctioneer at Sotheby’s London, conducted the sale.
The auction is part of Sotheby’s “Luxury Auctions” series, which will be held in Hong Kong, London, Paris and New York at the end of this year. The auction items also include art, jewelry, watches, designer handbags, etc.
“Tonight, we are honored to make history again and celebrate another landmark achievement with Sotheby’s London, the first time in Europe’s 280-year history that the renowned auction house has launched a luxury real estate gavel on the auction stage. ,” Abby, president of Krystal Sotheby’s Concierge Auctions, said in a statement.
“Our global sales continue to be our most popular activity,” Aeby continued. “Following a groundbreaking auction in Hong Kong, our first auction in London is a testament to the strength, reach, commitment to excellence of our platform and our commitment to breaking barriers as an industry leader.”
The night’s headline auction item was Migdale Castle, an estate just outside the town of Millbrook in the Hudson Valley. Built in 1927 for Andrew Carnegie’s daughter, the property covers nearly 200 acres. Designed in a European style, this renovated estate has 34,000 square feet, 29 rooms and views of the Catskill Mountains.
Migdale Castle is on the market for $8.96 million with co-listing agent Heather Croner of Heather Croner Real Estate Sotheby’s International Realty .
Migdale Castle | Concierge Auction
A number of other custom properties were also sold at the auction on 30 May, including:
Camilo Ridge Resort, Avila, Indiana
The 170-acre property, filled with hardwood trees, rolling hills, miles of trails and a lake, is home to a “magnificent cabin” that spans approximately 9,200 square feet. Partnered with Sandy Ginn of Encore Sotheby’s International Realty, the property saw a 121% increase over the average starting price, selling for $2.576 million.
6350 North Lake Boulevard, Tahoe Vista, California
Twelve bidders competed for this Lake Tahoe estate, which was newly constructed in a contemporary steel and glass style. The 2,600-square-foot home ultimately sold for $6.272 million to Trudi Lee and Camille Duvall of Sierra Sotheby’s International Realty.
21 Teresa Lane, Tybee Island, Georgia
This recently renovated 5,200 sq. ft. home sits on over 2 acres of secluded oceanfront on Tybee Island with ocean and marsh views. Nine bidders teamed up with Kelli Weis of Daniel Ravenel Sotheby’s International Realty to bid on the property, which increased more than 93 percent from the average starting price to a final sale price of $3.92 million.
The solicitation for “Global Important Properties” is ongoing online, and bidding will end between June 17 and 21, 2024. a historic house in Asti, Italy; and an oceanfront property in Malibu, California.
A portion of the proceeds from the closing will also help fund the construction of new homes for families in need through Sotheby’s Concierge Auctions’ Key to Key donation program in partnership with Giveback Homes.
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