Luxury Homes are Selling Quickly Via Auctions



House Auctions in New York

House auctions have a certain stigma attached to them, often eliciting concerns about foreclosures and unpaid taxes. But luxury property auctions have been shedding the fire-sale image of the past, and now even the owners of high-end properties are putting their homes on the chopping block. “It’s no different from selling a Picasso,” says Charles Russell, a business development manager for New York–based Concierge Auctions, which handled the $1.175 million sale of a 1.37-acre Briarcliff Manor estate with Hudson River views last July.

“We bring clients straight to the sellers, creating urgency and demand.” (Prior to the auction, the property had been on the market for more than two years, last asking $1.865 million.) In Nassau County, an actual 18th-century French château, shipped to Upper Brookville during the 1920s, sold for $2.1 million in late 2017 via Premier Estates. And in East Hampton, a 5,000-square-foot home on Pondview Lane—a stone’s throw from the Maidstone Club—went for $4.62 million last October with Heritage Auctions.

In most cases, house auctions involve short closes, no contingencies, and all-cash transactions, so they can be ideal for affluent buyers and sellers. And even though some sellers often set a minimum price, known as a reserve, buyers have more flexibility in terms of what they pay since the tedium of negotiating is a nonissue. “Auctions are becoming the preferred method of selling,” says Randy Haddaway, founder and chief executive officer of Florida-based Elite Auctions, “because they don’t involve waiting out the market.” 

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Property of Note

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6 Juniper Point Road, Branford, CT
Classic modernism, refined materials and stunning LI Sound views imbue this steel framed waterfront property with 4 bedrooms, 4.5 baths, open floor plan, concrete radiant heated floors, high ceilings, large rooms and walls of glass. The main floor master is nearly 900 square feet with en-suite guest bedrooms, study and private in-law apartment set apart. A zen-like court-yard features a heated Gunite pool. Shoreline living at its architectural best.

6 Juniper Point Road

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Property of Note

23 Remington Road
23 Remington Road is a 2,759-square-foot home in the River Road neighborhood of Palmetto Bluff. This four-bedroom, four-and-a-half-bathroom home features a living room that effortlessly flows into the kitchen and back porch. Two gas brick fireplaces, custom molding and ample outdoor living space add a layer of charm. Conveniently located, this home is within walking distance of an amenity center and the River Road Preserve, a 120-acre protected maritime forest.



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Property of Note

Historic Wyndecote
Built in the heyday of 19th century Hamptons summers, Wyndecote has been meticulously renovated for which John David Rose won the 2018 AIA Peconic design award for outstanding achievement in historic preservation. The home offers ten bedrooms, eleven baths, three half-baths, and seven fireplaces. Among the refurbished and reinstalled elements are the 70+ “lead” paned windows. Wyndecote was built originally by noted owner-architect Robert H. Henderson, and hosted the Duke of Windsor and the King of Spain among its guests.

Sotheby's International Realty

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354 South Main Street

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Property of Note

248 Gay Street, Sharon, CT
Expansive & protected western views from this 5BR, 5BA completely renovated home on 18 acres in Sharon, CT. Kitchen, Dining, and Family Room open to an enclosed porch with distant views. Living Room w/fireplace overlooks pastoral views and pond. First-floor master suite with fireplace. 3 Upper BRs and 2 Full BAs. Guest suite w/ full BA & separate entry. Bonus Room in Basement. Heated Gunite Pool. Privately situated.



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