Luxury real estate auction house Platinum Luxury Auctions has announced the sale of four multimillion-dollar estates as the result of two auction events held on January 10 and 12.
The Miami-based firm, which specializes in the non-distressed auction sale of luxurious properties on behalf of their owners, was retained by business magnates and philanthropists Robert and Miryam Knutson to sell the four properties, which are located in Ligonier, PA, Boca Grande, FL, Durango, CO and Santa Fe, NM. Collectively priced at approximately $46 million, the properties were auctioned without a reserve price, meaning they sold to the highest bidders regardless of the high bid prices. Platinum’s promotion of the auctions garnered widespread attention, including feature articles in the Wall Street Journal and Forbes.
The Knutsons operated and then sold private education company Education Management Corporation, which served 158,000 students at 101 campuses, and found success by embracing a “student-first” ethos. The couple elected to auction the properties in order to simplify their real estate holdings after establishing their primary residence in Beverly Hills, CA. Previously, they would spend time at each of the properties every year.
In a letter sent to Platinum’s executive team following the completion of the four sales, the Knutsons thanked the auction house for “working so diligently on our behalf and in successfully completing the sales,” and noted they would be “pleased to recommend [Platinum] should the occasion arise in the future.”
“We’re thrilled to have successfully sold these four special properties, especially for such wonderful sellers,” stated Trayor Lesnock, Platinum’s president and founder. “It was a true team effort, extending to the four listing agents and a collection of property managers and staff.”
On January 10th, Platinum offered the Ligonier and Boca Grande properties in a live auction event held at the Four Seasons Hotel in Chicago, IL. The sale of the New Mexico and Durango properties then followed on January 12th at another auction event held at the Four Seasons in Denver.
According to Platinum, three of the properties sold as the result of a live auction, while the New Mexico home sold in a direct negotiation that occurred immediately prior to the planned auction. Collectively, the promotion of the auctions generated more than 58,400 views of the properties’ pages on Platinum’s website, resulting in 361 formal buyer inquiries and 26 registered bidders.
While prices for each of the sales will not be released until the their closings – all of which are scheduled for mid-February – Platinum and the cooperating listing agents were able to offer the following data on the sales:
- In Durango, CO, the sale of the property known as “Beaumont Ranch” achieved the 3rd-highest price in the City of Durango and in La Plata County, CO within the past 2 years. The sale also ranked as the 7th-highest in all of La Plata County since January, 2010.
- In Ligonier, PA, the sale of the “Woodmere” estate ranked as #2 all-time in all of Westmoreland County, PA. The highest sale on record, at $5.2m, was for a property offering 735 acres. Woodmere offers 200 acres.
- The sale of a waterfront home in Boca Grande, FL ranked as the #1 all-time price for a single-family home in Charlotte County, FL. It’s also the #1 sale on northern Gasparilla Island and the 4th-highest sale on the entire island within the past 3 years.
- The “Casa Alegre” estate in Santa Fe, NM sold for the #1 price in both the City of Santa Fe and Santa Fe County, NM within the past 2 years. It also ranked as the #7 sale in Santa Fe County since January, 2000.
Each of the transactions was conducted in cooperation with the given property’s listing agent and brokerage: Stephanie Duran of Barker Realty, an exclusive affiliate of Christie’s International Real Estate in Santa Fe, NM; Carol Stewart of Michael Saunders & Company in Boca Grande, FL; Kate Balzer of Piatt Sotheby’s International Realty in Pittsburgh, PA; and Abbi Munn and Joe Bob Mcguire of Wells Group Real Estate in Durango, CO. Ms. Duran also represented the buyer in the sale of the Santa Fe home.
Additional information can be found online at PlatinumLuxuryAuctions.com, or by contacting Platinum’s offices at 800.262.5132. Platinum now sets its sights on the upcoming auctions of an equestrian estate in Wellington, FL and an oceanside villa in the Dominican Republic, both scheduled for February.