With the successful conclusion of its live, no-reserve auction on July 16th for the Paradise Peninsula camp on Big Tupper Lake, luxury real estate auction house Platinum Luxury Auctions has now registered four consecutive sales in upstate New York’s Adirondacks region. The area – known for its natural beauty and its collection of recreational lakes such as Lake Placid and Saranac Lake – is also home to many, multimillion-dollar lakefront estates and compounds (or “camps,” per the nomenclature in the region).
Working in cooperation with broker of record Adirondack Premier Properties and listing agent Jodi Gunther, Platinum produced six bidders who registered for the sale, four of whom attended the auction in person while two participated remotely and in real-time via telephone.
Prior to the luxury auction, Paradise Peninsula had been on the market for nearly 3 years, enjoying only 2 showings and failing to generate any offers. The Franklin County lakefront property entered the market at a price of $3.2 million and was then reduced to $2.85 million, still with no viable suitors.