Archive for “September, 2018”

platinum luxury auctions lawsuit win

Platinum Luxury Auctions Lawsuit Win

Florida’s Third District Court of Appeal ruled on August 16, 2017 that Platinum Luxury Auctions was innocent of the meritless accusations and the legal complaints made against it by Concierge Auctions. As a result of the ruling, Concierge was also ordered to pay Platinum’s legal fees related to the complaint, which amounted to more than $23,000.

In April 2016, Concierge filed a lawsuit for a Motion to Enforce Settlement Agreement against Platinum Luxury Auctions and its president and founder, Trayor Lesnock. In the motion, Concierge claimed that Lesnock and Platinum were in violation of a non-disparagement provision contained in a confidential settlement agreement between the two companies that was executed in September 2014, relating to a previous legal dispute.

In response to the motion, Miami-Dade circuit judge William Thomas ruled in Concierge’s favor. Platinum then appealed the decision in the higher courts based on its confidence in the facts surrounding the complaint, resulting in Platinum’s August 2017 victory.

Concierge argued that a blog post written by Lesnock entitled “Clank! The Curious Case of the Failed Michael Jordan Auction(s),” was in violation of the settlement agreement in the original Platinum Luxury Auctions lawsuit. Lesnock’s post does not mention Concierge Auctions by name, and presents an arguably neutral discussion of its failed attempt to sell the famous basketball player’s Chicago home in a November 2013 auction.

In the appeal, Platinum’s attorneys at the Tripp Scott Law Firm in Fort Lauderdale, FL successfully argued that not only did Lesnock create the Michael Jordan blog post in January 2014, a full nine months before the settlement agreement, but he was also able to prove that the article was never edited, revised, or otherwise modified since the posting date.

More importantly, despite the fact that Concierge Auctions’ counsel carefully reviewed the blog post in depositions with Lesnock related to the September 2014 settlement, Concierge did not request that Lesnock censor, remove, or modify the blog in any way whatsoever as part of that lawsuit settlement.

Ryan H. Lehrer of Tripp Scott, the lead attorney for Platinum Luxury Auctions in the appeal, stated that Concierge’s motion was “just the latest attempt by that entity to harass Platinum Luxury Auctions with meritless accusations and legal filings.”

Lehrer added that the opinion of the higher courts, “…solely concentrated on the fact that Platinum Luxury Auctions had not breached the parties’ settlement agreement and the fact that Concierge Auctions LLC had wrongfully attempted to insert additional terms into that agreement that did not exist.”

Platinum Luxury Auctions is responsible for developing the luxury auction® model for high-priced real estate auctions and owns the trademark rights to the term “luxury auction.” The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum’s team has closed more than $768 million in luxury real estate auction sales to date, while consulting on more than $2.25 billion in additional luxury properties worldwide.

Former Digs of NFL Great LaDanian Tomlinson Headed to Auction Sept 28th

Platinum Luxury Auctions Announces Upcoming Sale of Basking Ridge, NJ Estate

Next Friday, a live auction sale will be held for a luxurious residence in Basking Ridge, New Jersey that was once home to Pro Football Hall of Fame running back LaDanian Tomlinson. The suburban estate was previously listed for nearly $3 million, but will now be sold to the highest bidder without reserve and regardless of the high bid price on September 28th. Luxury real estate auction house Platinum Luxury Auctions, a firm specializing in the non-distressed sale of multimillion-dollar homes on behalf of their private owners, is managing the luxury auction® in cooperation with listing broker Michael Lattmann of Kienlen Lattmann Sotheby’s International Realty.

The upcoming sale marks the second auction orchestrated between the two firms in 2018. In June, Platinum and Kienlen Lattmann sold a home in New Vernon, NJ for approximately $2.2 million. “We’re pleased to work again with Michael Lattmann and his team on another exciting auction opportunity,” stated Trayor Lesnock, Platinum’s president and founder. “The home next door just sold for $2.3 million in April, and it sits on only 3 acres and is nearly 700 square feet smaller, so the value opportunity for this auction is very real.”

Although the home is owned by an entrepreneur who no longer resides in New Jersey, Tomlinson leased the property during his stint with the New York Jets in 2010 and 2011. The legendary running back then retired, and was later inducted into the Pro Football Hall of Fame in August 2017, his first year of eligibility.

The property sits on more than 9 private acres, and is located within a boutique, residential enclave named Pheasant Crossing. The 45-acre development features only ten estates, and was developed by Mark Built Homes, an award-winning, family-owned company. Michael Markovitz, the firm’s principal, boasts several Community of the Year awards from both the Community Builders Association of New Jersey and the New Jersey Builders Association.

With three living levels offering 6 bedrooms, 6 full and 2 half baths throughout nearly 7,200 interior square feet of living space, the residence can accommodate larger families and serves as an exceptional venue for entertaining.

One bedroom is located on the main floor, while the remainder of the four guest bedrooms and the master suite are on the upper level. Prominent features include a gourmet kitchen with dual islands, a two-story foyer and a large backyard patio done in hand-laid bluestone.

The home’s lower level includes an entertainment lounge with wood-burning fireplace, wet bar/kitchen, dining area, enclosed home theater, 1,000-bottle wine cellar with tasting/cigar room, and a fitness center with an adjacent bathroom, walk-in steam shower and sauna.

Previews of the property are available by appointment between the hours of 12 and 4pm ET each Friday through Sunday, until auction. For information on property previews, bidder registration or other auction procedures, visit NewJerseyLuxuryAuction.com, or contact Platinum’s project manager, Chase Boruff, at 800.825.4694.

 

Super-prime houses auctioned off with no reserve

Once associated with distressed sales, auctions are now popular among the impatient super-rich

The eight-bedroom château with a private harbour on Lake Geneva sat on the market, intermittently, for seven years without a buyer. So, in September 2017, its owners decided to auction it off — with no reserve…

For the full Financial Times article by Melissa Lawford, click here.