Sales are dropping and listings are lingering ever longer in the luxury residential market.

From New York City to Los Angeles to Miami, the luxury home market has been in the grips of a prolonged slowdown, in part due to the recent pullback of foreign buyers – however, stock market uncertainties have also played their part. The increasing amount of money developers are spending on amenities speaks to the demand of the market: ISG CEO Craig Studnicky reports that developers are offering an array of incentives (from luxury concierges to urban farming) to sell their remaining inventory and move onto new projects.

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Platinum Luxury Auctions Will Offer Condo in Beekman Neighborhood at May 17th Sale

A two-story condominium with 1,500 sf of outdoor living area and direct water views is headed for sale via luxury auction®. The property, located in Midtown Manhattan’s desirable Beekman neighborhood and fronting the East River, was initially asking $13 million. It will now be offered at a live auction held on the property site on May 17^th, and will be sold to the highest bidder who meets or exceeds the auction’s $4 million reserve. Miami-based luxury real estate auction house Platinum Luxury Auctions – a firm that specializes in the non-distressed auction sale of multimillion-dollar properties – was retained by the property owner to manage the sale. Platinum is also a licensed New York real estate brokerage.

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Following its successful luxury auction® sale in January of the Woodmereestate in Ligonier, Pennsylvania, luxury real estate auction house Platinum Luxury Auctions will now offer another multimillion-dollar property in the exclusive Westmoreland County borough at auction. On May 11, 2019, Hidden Meadow Farm, a 133-acre estate that was previously asking $6.5 million, will be sold at a live auction held on the property site. The property will be sold without reserve and regardless of the amount of the highest bid price. Platinum is managing the sale in cooperation with listing agent Annette D. Ganassi of Howard Hanna Real Estate Services in Ligonier.

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A multimillion-dollar estate in Mexico’s California Baja Sur that was once asking $10 million will now be sold at a live auction without reserve on Saturday, April 13^th. Miami-based real estate auction house Platinum Luxury Auctions is managing the auction sale of the property in cooperation with Snell Real Estate, an Engel & Völkers affiliate serving as the listing brokerage of record. Sales associate Cindy Stanford is representing Snell in the transaction. Bidders who wish to participate in the sale must register with Platinum by a deadline of 5pm PT on Thursday, April 11^th.

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Bidders on a 40-acre horse farm one hour south of Seattle have the chance to live a life of luxury—even if the apocalypse strikes.

Trinity Farm, an equestrian estate in Yelm, Washington, with an indoor pool and a three-bedroom, air-tight bunker, heads to a live auction on Friday afternoon without reserve. Previously asking $5 million, the five-bedroom main mansion and its numerous outbuildings will sell to the highest bidder regardless of price.

The property has all the bells and whistles of a multi-million-dollar horse farm, including an Olympic-sized indoor arena with highly prized Attwood composite footing, paddocks and acres of riding fields. The custom-built estate also has a helipad, snail-shaped motor court and an open floor plan that flows into a sun-drenched, glass conservatory.

Luxury real estate auction firm Platinum Luxury Auctions is preparing for the upcoming sale of a unique, equestrian estate located just south of Seattle, Washington. The 40-acre property, affectionately known as Trinity Farm, is about one hour south of the Emerald City, and less than 45 minutes from both Tacoma and Olympia.

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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.

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