Miami-based real estate auction firm Platinum Luxury Auctions has announced the planned auction of a waterfront mansion owned by members of the France family, the founders and owners of NASCAR.
Located in Daytona Beach, Florida, the sprawling waterfront estate will be sold at a live auction without reserve, meaning the highest bidder will become the new owner of the property regardless of the high bid price. The luxury auction® sale is scheduled for June 3, 2017, with bidders being able to participate in person on the property site, or remotely via telephone. The France family retained Platinum, a firm specializing in the non-distressed auction sale of multimillion-dollar homes on behalf of their wealthy owners, to exclusively manage the transaction. Platinum is also a Florida real estate corporation.
The property was built and owned by Bill France Jr. and his wife Betty Jane France. Bill Jr.’s father, Bill France Sr., founded the National Association for Stock Car Auto Racing – or NASCAR – in 1948. Bill Jr.’s son, Brian France, acts as the current CEO and Chairman of NASCAR. The France family has maintained ownership of the business while growing it into a globally prominent motorsports empire.
After Bill France Jr. passed away in 2007, Betty Jane lived in the home until her passing in August of 2016. She was well known for her charitable and philanthropic endeavors, which included founding the NASCAR Foundation in 2006, a non-profit organization focused on helping children in need across the United States.
Although never previously offered for sale, the residence was appraised for $13.8 million in 2013. While this appraisal figure only represented the value of the home itself, potential buyers will be pleased to know that the sale of the property will include all of its current furnishings. “The prospect of having to furnish a house like this one from scratch would be daunting, not to mention pricey. It’s a task that could easily have a seven figure price tag,” noted Trayor Lesnock, Platinum’s founder and president.
Entering the sales market using an auction is certainly not a common occurrence in the world of luxury real estate sales, although the France family preferred this method instead of the traditional brokerage process. “While we may be biased, it’s been our experience that sellers of unique and high-priced homes who elect to circumvent the traditional brokerage process in order to offer their properties at luxury auction® have proven to be the smart ones,” added Lesnock. “Such sellers are generally very market savvy, and understand that the long, painful brokerage process of continued price reductions over time creates a huge amount of wasted money and lost opportunity costs.”
The property is certainly unique, occupying 3.8 manicured acres with 325 feet of water frontage on the Halifax River. There is also a 150-foot boat dock able to accommodate multiple vessels, in addition to a custom pool, outdoor kitchen/bar, and various loggias and terraces offering beautiful water views.
The estate’s main residence offers more than 17,000 square feet, while a separate guesthouse adds another 1,700 square feet of living space. In total, there are 5 bedrooms, 7 full and 6 half baths. Though the home is appointed with the finest finishes, it blends elegance with comfort to create a living environment that does not feel stuffy or overstated.
The relatively modest bed and bath count compared to the size of the property allows for rooms to be very large and spacious, with a sprawling master suite and three other guests suites – each with an en-suite bath – being located on the more private, upper level of the main residence.
Other property features include a grand “River Room” perfect for entertaining, a commercial-grade elevator, dual spiral staircases, a “hidden” wine cellar and tasting room, a private hair salon, gourmet kitchen, fitness center, built-in home audio system, and a fleet of 24/7 surveillance cameras.
The property is available for previews by interested buyers between the hours of 12 and 4pm (EDT) daily, until the auction. Visitors are encouraged to schedule their viewing appointment in advance. Additional information is available at RiverfrontLuxuryAuction.com, or by contacting a Platinum representative at 800.676.9581.