How many neighborhoods consistently see home sales in excess of $10 million? How many have posted transactions of $44 million and up in the past few years? Not many! For the ultra-rich, some communities stand out, and the internationally known Gables Estates community in Miami, Florida is one of them.

These sky-high prices mean luxurious estate homes are the norm. The 192 homes in the private and gated community are sited on 200 acres on the glistening Biscayne Bay, just 30 minutes from the heart of Miami. Almost all of the parcels have substantial water frontage and unrestricted access to both the Bay and the Atlantic Ocean beyond. Due to its proximity to Miami International Airport, the location also provides a perfect base for international travel, especially to Central and South America.

Is Luxury Priceless?

Buying a home in the Gables Estates requires a deep pocketbook, but a recent trend in luxury real estate purchasing is taking hold in exclusive communities: luxury real estate auctions are becoming an increasingly popular way for well-heeled sellers to divest of their unique and distinguished assets in a date-certain manner. Properties priced in excess of $10 million can languish on the market for years before a qualified buyer emerges, and the sit-around-and-wait approach is the antithesis of luxury living.

A New Approach To Luxury Real Estate Sales

So, wealthy sellers turn to luxury auction houses such as Miami-based Platinum Luxury Auctions (who actually own the rights to the term luxury auction®!) to market their homes internationally and sell them – all in six weeks or less. Auctions can seem complicated, but in reality they’re a much simpler, more transparent way to buy luxury real estate – and auction sales (since they are “as-is, where-is” transactions) break down far less than normal real estate negotiations.

Read the full article on The Luxe Insider HERE.