Luxury real estate auctioned at Sotheby’s London for first time – Inman

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For the first time in its 280-year history, Sotheby’s London saleroom hosted an auction at which luxury real estate was exhibited on May 30, Sotheby’s Concierge Auctions announced.

The inaugural “Exceptional Global Properties” sale also streamed live on conciergeauctions.com and sothebys.com — and saw 83 percent of lots sold, with more than $160 million in aggregate bids placed.

Nearly 200 attendees went to the event at which 30 potential luxury property buyers from North America, Europe and Asia placed bids individually and through teams of specialists who attended in person and online.

Frank Trunzo, Sotheby’s Concierge Auctions’ head auctioneer, and Michael Macaulay, deputy chairman of Contemporary Art and leading Sotheby’s London auctioneer, headed the auction.

The auction was part of Sotheby’s “The Luxury Sales” series, which is taking place across Hong Kong, London, Paris and New York through the end of the year, and also featured fine art, jewelry, watches, designer handbags and more.

“Tonight, we’re honored to make history yet again and celebrate another monumental achievement with Sotheby’s in London, as the first time luxury real estate gavels on the auction stage of the renowned auction house in its 280-year history in Europe,” Krystal Aeby, president of Sotheby’s Concierge Auctions, said in a statement.

“Our global sales continue to be our most highly sought-after events,” Aeby continued. “On the heels of our groundbreaking sale in Hong Kong, our inaugural sale in London is a testament to the strength of our platform, reach, dedication to excellence, and our commitment to breaking barriers as the leader in our industry.”

The headline auction item of the evening was Migdale Castle, an estate located just outside of the Hudson Valley town of Millbrook. The 1927-built property was constructed for Andrew Carnegie’s daughter and sits on nearly 200 acres of land. Designed in a European style, the renovated estate spans 34,000 square feet, has 29 rooms and boasts views of the Catskills.

Migdale Castle sold for $8.96 million in cooperation with co-listing agent Heather Croner of Heather Croner Real Estate Sotheby’s International Realty.

A number of other bespoke properties sold at the May 30 auction as well, including the following:

Camelot Ridge Resort, Avilla, Indiana

The 170-acre property teeming with hardwood trees, rolling hills, miles of trails and a lake is home to a “majestic lodge” spanning about 9,200 square feet. The property saw a 121 percent increase above average starting bid prices achieved, for a final sales price of $2.576 million, in cooperation with Sandy Ginn of Encore Sotheby’s International Realty.

6350 North Lake Boulevard, Tahoe Vista, California

Twelve bidders vied for this Lake Tahoe estate, newly constructed in a modern style of steel and glass. The 2,600-square-foot home ultimately sold for $6.272 million, in cooperation with Trudi Lee and Camille Duvall of Sierra Sotheby’s International Realty.

21 Teresa Lane, Tybee Island, Georgia

This 5,200-square-foot, recently remodeled home sits on over two acres of secluded beachfront on Tybee Island with both ocean and marsh-front views. Nine bidders vied for the property with an over 93 percent increase above average starting bid prices achieved, for a sales price of $3.92 million, in cooperation with Kelli Weis of Daniel Ravenel Sotheby’s International Realty.

The “Important Global Properties” collection is ongoing online, with bidding closing between June 17-21, 2024. Other featured properties include a cliffside villa in Mykonos, Greece; a historic property in Asti, Italy; and an oceanfront property in Malibu, California.

Portions of the proceeds from home closings will also help fund the construction of new homes for families in need through Sotheby’s Concierge Auctions’ Key for Key giving program, in partnership with Giveback Homes.

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Email Lillian Dickerson