Concierge Auctions has successfully auctioned a Villa in Beverly Hills, California for a record amount. The property had been listed for more than two years before going up for auction, where it successfully sold for almost $ 60 million.
A desirable property even for Beverly Hills
The property itself was a highly desirable residence even by Beverly hills standards. The home sits on over 9 acres in the Beverly Park neighborhoods, and the home itself has 20,000 square feet and 20 bedrooms. Around the Mediterranean-style house is a 30-car courtyard and 12-meter Canary Island palm trees, which suit the theme of the residence. Other features of the property include a jogging track, tennis court, swimming pool and several guest houses.
A record auction by Concierge Auctions
The residence was first listed in 2018 with an asking price of $ 165 million, but it has not been sold in over 2 years. The owner therefore decided to have Concierge auctions auction of the residence, which was a great success.
The winning bid included a public price of nearly $ 60 million, but that does not include additional considerations that will not be recorded publicly. In complex real estate transactions like this, it is common for other considerations to be taken in addition to the actual price paid in cash.
Even with just the public price of almost $ 60 million, this auction broke records. The residence is now the most expensive house ever to be auctioned, and the next highest residential auction price is not too close.
The previous record holder was a Hillsboro Beach mansion that sold at auction for $ 42.5 million after initially asking for $ 159 million. Compared to the percentages of the original asking price, the Florida mansion auction recorded 26.7% of the original listing price. Concierge Auctions was able to secure almost 36.6% of the original price of this Beverly Hills villa.
Concierge Auctions has spoken publicly about the auction via Executive Director Laura Brady. The auction house has not publicly confirmed the sale price at the time of writing, however. Brady confirmed the auction was a record high, but the exact numbers came from sources familiar with the auction.
About Concierge Auctions
Concierge Auctions is the world’s leading luxury real estate auction house. The company has over 90% of the luxury residential auction market share, and the company has relationships with a wide range of high net worth individuals who may be interested in luxury properties. In many cases, the auction house’s resources, networks, and auction process can help property owners sell homes that might otherwise take years to find a buyer.
Concierge Auctions has been awarded several times with distinctions. The auction house is rated by Who’s Who in Luxury Real Estate, National Auctioneers Association, Telly Awards, USA Today, Inc. 5000, Entrepreneur 360 List, Financial Times, and others. Find out more Facebook Concierge Auctions.