Following the successful sale of a 10-acre country home in Redding, CT, Miami-based Platinum Luxury Auctions has announced another, upcoming real estate auction in the town of Ridgefield. On June 29, 2018, a stately suburban residence that once asked as much as $2.85 million will be sold at a live auction to the highest bidder who meets or exceeds the auction’s reserve price of $1.1 million. Platinum is conducting the sale in partnership with the Al Filippone Associates team at William Raveis Real Estate, represented by listing agent Andrew Whiteley. Platinum and Whitely also collaborated for the sale of the Redding property on June 9^th.

The English-style, stone manor in Ridgefield, CT is set on 3.6 acres and offers 4 bedrooms and 4.5 baths in nearly 6,000 interior square feet. Built in 1911 and fully renovated in 2005, the residence boasts an impressive provenance. It was originally designed for Arthur C. Fraser (a prominent New York patent attorney) by Grosvenor Atterbury, a Yale-educated architect who specialized in weekend homes for the wealthy and had a collection of high-profile clients that included the Rockefellers.

In addition to the residential structure, the property’s grounds also have famous beginnings: the gardens were designed by Warren Manning, a well-known landscaper famous for his contributions to the 1893 Chicago World Fair and his work on the Biltmore Estate. Manning gave the gardens an 18th-century, “English romantic” style which earned them a feature in a Garden Club of America tour in 1927.

Today, the home’s outdoor living areas include a “sunken garden” outdoor lounge with a koi pond, surrounded by extensive gardens and various plantings. The gardens’ blend of contemporary designs with the preservation of some of Manning’s original “wild garden” plantings earned them a place in the Garden Club of America Collection at the Smithsonian Institution’s Archives of American Gardens (AAG) in the fall of 2017.

“We’re looking forward to extending our series of successful auction sales in Connecticut with this impressive home,” noted David Ashcroft, Platinum’s director of business development. “It offers such incredible value, some of our own team members have even remarked they might place a bid.”

Platinum, a firm that specializes in the non-distressed auction sale of multimillion-dollar homes on behalf of their owners throughout the country, has been conducting more business in the state during the past few years, and has experienced an uptick in inquiries from Connecticut homeowners, according to Trayor Lesnock, its president and founder. “Given the way the economic landscape and the luxury residential markets have changed in Connecticut, we’re pleased to be seeing 5, 6 and 7-bidder audiences at our auctions. We know there are many frustrated sellers here looking for a sale, quite a few of whom seem to own multiple properties in Connecticut. They’re ready to do something better with their capital than have it languish in a residential home.”

Prominent features of the Ridgefield property include a cozy, gourmet kitchen with commercial-grade appliances and wood-burning fireplace, formal living and dining rooms, indoor conservatory, game room, and a large master suite with beautiful views of the surrounding landscapes. Historic elements such as original flooring and wood-burning fireplaces are balanced with modern features like Swarovski doorknobs and a whole-house water purification system.

Open house previews of the property are being held from 12-4pm daily through Thursday, June 28^th. For information on property previews, bidder registration or other auction procedures, interested parties may visit CTLuxuryAuction.com, or contact Platinum’s project manager, Tawny Wolf, at 800.785.3119.

Platinum Luxury Auctions Managing Sale of 32-Acre Estate on Oregon’s Willamette River

When Hollywood Video founder Mark Wattles purchased 32 acres on Oregon’s Willamette River in 1994, the entrepreneur had a vision to create a dream estate on the sprawling parcel.  Although he began to execute that vision – obtaining permits and beginning construction on a 49,000-square-foot mansion with an indoor basketball court and dual automotive galleries – his plans eventually changed, and construction was halted almost 20 years ago, prior to completion.

Fast forward to this Thursday evening at 7pm PT, wherein the property will be sold at a live auction without reserve – meaning the highest bidder prevails regardless of the price – to find its new owner. Wattles originally purchased the land for $1.25 million and stated he has invested more than $12 million into the project to date. “I don’t owe anything on it, so I could have sat on it for another 20 years…but it’s in my interest to auction it to have the widest audience,” Wattles said.

To conduct the auction, Wattles retained veteran real estate auction house Platinum Luxury Auctions. The Miami-based firm specializes in multimillion-dollar real estate auctions on behalf of clients who – like the former movie rental mogul – are not in distress, but rather elect to sell their property in a way they deem to be more expeditious and effective as compared to traditional sales methods, especially when the given property is unique or difficult to value.

“Wealthy sellers like Mr. Wattles are not an exception to our luxury auction^® process, but are instead the norm,” stated Trayor Lesnock, Platinum’s founder and president. “That said, what is unique in this case is that he chose to enter the marketplace with an auction, as opposed to many other sellers who waste valuable time – often many years – failing to sell their property traditionally before electing our services. Mark and his listing agents are savvy enough to realize that his special property is best suited for a special sales approach.”

Lesnock and his team are offering the property in cooperation with listing brokerage Luxe Platinum Properties, an exclusive affiliate of Christie’s International Real Estate based in Lake Oswego, Oregon. Luxe is represented in the transaction by its CEO, Terry Sprague and co-listing agent Kendra Ratcliff.

The 32-acre property consists of a peninsular (or “point”) lot with approximately 2,700 linear feet of frontage on the Willamette River. It sits at the end of a quiet road in rural-suburban West Linn, located about 40 mins from the heart of downtown Portland.

While the dream home Wattles planned for the site was never completed, the existing framework is in impressive condition. “It looks like a project that was started only 2-3 years ago. It’s unbelievable how well maintained it is,” Lesnock noted.

Built by Tom Avgerakis, one of the Pacific Northwest’s most sought-after luxury homebuilders, the structure boasts “commercial-grade” construction, with extensive use of steel beams, concrete and treated wood. Original build plans envisioned a sprawling, tri-level estate with +/- 49,000 sf of gross constructed area. Planned features included an indoor racquetball/squash court, indoor basketball court, elevator, and a sprawling master suite with a 1,200-sf closet and private theater. The home’s lower level was designed to include two automotive galleries, each with room for up to 20 vehicles (which is in addition to the 8-car garage adjacent to the main entry).

Thanks to an active building permit, which was secured prior to the current land-use regulations that increased the setbacks for waterfront properties, the homesite offers 270-degree river views that cannot be reproduced. The property also enjoys an agricultural tax abatement that substantially reduces its tax bill.

Final previews of the property will be held from 12-4pm PT daily, through Wednesday, June 13^th. For information on property previews, bidder registration or other auction procedures, interested parties may visit OregonLuxuryAuction.com, or contact Platinum’s project manager for the sale at 800.484.2513.

About Platinum Luxury Auctions
Platinum Luxury Auctions is responsible for developing the luxury auction^® model for high-priced real estate auctions, and owns the trademark rights to the term “luxury auction.” The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum’s team has closed more than $757 million in luxury real estate auction sales to date, while consulting on more than $2.25 billion in additional luxury properties worldwide.

On June 9^th, a luxurious estate situated on 10-acres in rural Connecticutthat once asked more than $10 million will now be sold at luxury auction^® to the highest bidder. The property, located in the town of Redding, CT and given the name Shelterfields by its owners, had previously been listed for $10.25 million, but is now slated for sale at auction without reserve, meaning the highest bid – regardless of the bid amount – will prevail. Veteran luxury real estate auction firm Platinum Luxury Auctions was hired by the property owner to conduct the non-distressed auction sale, in cooperation with listing brokerage William Raveis Real Estate. Listing agent Andrew Whiteley of the Al Filippone Associates team is representing Raveis for the sale.

“After successfully selling a neighboring Redding estate in 2017, we’re excited to be working with Andrew and the Filippone and Raveis teams on another beautiful country home in rural Connecticut,” stated David Ashcroft, Platinum’s director of business development. “The pedigree of this property is extremely impressive, and any value-driven buyer looking for a quiet place for his family or a weekend retreat from the city will not want to miss the incredible value opportunity presented by this auction.”

The original footprint of the residence is based upon a carriage house that was built in 1907. Following extensive renovations and additions, the property has been transformed into a luxurious estate, inspired by the homes of the English countryside. The property owners incorporated remnants of the original structure in the renovations, as evidenced by beautiful, exposed beams located throughout, which offer a touch of historical charm to the home’s contemporary elegance.

The two-story residence offers more than 8,500 sf of living space, with 6 bedrooms, 6 full and three half baths. A formal foyer, gourmet kitchen with professional-grade appliances, 2 en-suite bedrooms, a large family room, and a wine cellar with storage for more than 1,000 bottles are featured on the main living level.

A massive, 27-ft by 43-ft great room is connected to the main living areas by a short hallway, and features high-gloss wood floors, exposed wood beams, a powder room and a private balcony – perfect for a music room, billiards room or even a “man-cave.”

The upper level offers 4 bedrooms and multiple entertaining areas. A sumptuous master suite with private balcony, walk-in closets, and a large master bath with soaking tub and separate shower is a perfect couple’s retreat. An adjacent office and entertainment room offer space for work and play, while a sitting room with fireplace provides a private sanctuary for relaxation.

Outdoor living areas include patios both covered and uncovered, which offer expansive views of the rolling countryside. Grounds feature a tennis court, greenhouse, fire pit and private pond. Additionally, a Gunite pool surrounded by stone walls and carefully pruned trees offers a pool house with changing room. Views of the Aspetuck River and surrounding lands that have been placed into a conservation easement add to the tranquility of the estate.

Final previews of the property will be held from 12-5pm daily through Friday, June 8^th. For information on property previews, bidder registration or other auction procedures, interested parties may visit ConnecticutLuxuryAuction.com, or contact Platinum’s project manager for the sale at 800.935.1168.

The listing price of $6.1 million is “just for reference.” How much would you bid on this home?

By Katie Kausch , Patch Staff | May 21, 2018 9:49 am ET

HARDING TOWNSHIP, NJ — This sprawling Harding Township home could be Morris County’s most expensive when it hits the auction block on June 1. Listed online for $6.1 million, the home could go for much more (or much less!) than the price when bidding starts.

The six bedroom, eight bathroom home sits on over 10 acres and boasts a six stall barn, luxury pool, a library, and more. How much would you bid on this mansion? Read more about it here, and visit realtor.com for even more photos.

Click here for the full story.

By Jon Bell  – Staff Reporter, Portland Business Journal

Mark Wattles had grand plans for a singular 32-acre property along the banks of the Willamette River in West Linn.

The founder of Hollywood Video had bought the property in his early 30s for $1.25 million in 1994, and by 1997, construction was underway on Wattles’ dream home, a sprawling, 50,000-square-foot mansion with three stories, underground parking for his car collection, a full-court gymnasium, an indoor swimming pool, an elevator and more.

But life and business plans changed for Wattles, and two years later, he all but stopped construction on the home. Minor projects and seasonal maintenance continued — largely to keep the building permit open — but for the most part, the home sat framed and unfinished.

For almost 20 years.

Now 57, Wattles has decided he’s never going to finish the project and it’s time to sell.

“I’ve gone back and forth over the years on whether to finish it or not, and I’ve finally made the decision that it’s not going to happen. I’m never going to finish it for myself,” Wattles said. “It was going to be my little oasis. Now it will be somebody else’s.”

The property sits at 32020 S.W. Peach Cove Rd. on the banks of the Willamette River in West Linn. Because the river makes an almost 90-degree bend there, the property offers an expansive, 270-degree view of the river and almost 2,700 feet of river frontage.

The home on the site is a long way from being finished, but it is substantially in-progress. Images show essentially a shell of a home, windowless and wrapped largely in Tyvek, a synthetic construction material that helps keep moisture out. Interior photos that were not made available for publication show the huge gymnasium with glulam beams spanning the ceiling, exposed wooden rafters and beams in various rooms and sheet after sheet of plywood on the floors and walls.

Rather than list the home with a broker, Wattles said he decided to sell it through an auction in part to attract a wider, national audience. To do that, Wattles hired Platinum Luxury Auctions out of Miami.

Trayor Lesnock, president of Platinum Luxury Auctions, said he was admittedly a tad worried about what shape the home might be in before he saw it for himself.

“I was very surprised to see the condition of it,” he said. “I did not have high hopes just because anything that’s been sitting there in the Oregon weather for that long … But it actually looks like it was built in just the past few years.”

The auction is set for 7 p.m. Thursday, June 14. It may be held at the site, but Lesnock said that could change with the weather. It will be a live auction without a reserve, meaning there is no minimum bid and the highest offer will win. Prospective bidders have to put down a substantial financial commitment up front just to participate, though their money is refunded if they’re not the highest bidder.

Platinum Luxury Auctions Offers Second Property YTD in World Famous Equestrian Market

On the heels of its successful sale on May 5^th of the 14-acre horse property known as Kismayo Farm, Platinum Luxury Auctions is heading into its second Wellington property auction of the year. On May 19^th, the Miami-based real estate auction firm will offer a luxurious estate located in the Wellington Preserve community at a live auction sale. The property was previously listed for approximately $8 million, but will now be sold subject to confirmation of the auction’s high bid by various creditors. Platinum is managing the sale in cooperation with listing brokerage Douglas Elliman Realty, which is represented by listing agent Maria Mendelsohn.

While Platinum’s auctions typically use more finite terms of sale – for example, placing a fixed reserve price that must be met or exceeded in order for the property to be sold – this auction follows a different format. According to Trayor Lesnock, Platinum’s president and founder, the terms are made to suit the situation surrounding the property.

“While the format of this sale is non-traditional for us, it’s the appropriate method of sale for the situation,” Lesnock stated. “Third party creditors will need to approve the high bid in order for the sale to be finalized. That said, it’s our understanding that the parties are motivated for the sale to occur, and some have provided us with written statements to this effect.” Mr. Lesnock added that while he cannot speak for any creditor, it’s typically the case in such situations that creditors would much rather deal with capital than a real estate asset, hence their interest in a successful sale. “I would certainly not be deterred if I were a bidder for this property,” he stated.

Located within the 610-acre equestrian community known as Wellington Preserve, the property sits on nearly 6.3 manicured and fenced acres, and features a large estate with an impressive outdoor living area and ample green space for the addition of equestrian amenities such as barns, paddocks or a riding arena.

The residence features a Tuscan-inspired design, and offers 6 bedrooms and 8.5 baths throughout approximately 7,500 sf of living space. Outdoor living areas account for an additional 5,000 sf.

Prominent features of the residence include a fully fenced perimeter with 3 electronic entry gates, paved arrival with porte cochère, chef’s kitchen, home theater, fitness center and luxurious master bath complete with freestanding soaking tub and walk-in shower. There is also a detached garage with a spacious loft for office or flex space – perfect for the modern “man cave.”

The property’s outdoor living areas could easily be confused with those of a luxury resort. Dominated by a large, custom pool with various lighting and water features, the space also includes a gazebo, multiple lounge areas, and a covered summer kitchen. Ample, mature palm tress and tidy landscaping add to the resort ambiance. Beyond the pool area is a vast expanse of manicured lawn, perfect for the addition of any number of equestrian facilities.

Final previews of the property will be held Thursday and Friday of this week, between the hours of 12pm and 4pm ET. Those individuals wishing to bid at the auction must register with Platinum by the 5pm ET Bidder Registration Deadline on Friday, May 18^th. More information is available at FLLuxuryAuction.com, or by contacting a member of the Platinum team at 800.631.4885.

Miami-Based Platinum Luxury Auctions Credits Sale to Team Effort with Listing Brokers

Following the March 3^rd luxury auction^® of a Colorado Springsmansion, Platinum Luxury Auctions has announced that the sale has closed for a price that ranks at the highest residential sale in the city’s “Black Forest” region – a nearly 130-square-mile market area – within the past three years.

The luxury real estate auction firm, which was hired by the property owner for the non-distressed auction sale, stated that the gross sales price of $2.46 million not only grabbed the top spot in the Black Forest area, but also registered as the 4^th highest residential sale Colorado’s El Paso County within the past year, and the 6^th highest within the past two years. Platinum conducted the transaction in cooperation with LIV Sotheby’s International Realty and Action Team Realty, the property’s co-listing brokerages.

“I can’t say enough about the team effort that produced this sale,” stated Trayor Lesnock, Platinum’s president and founder. “From the cooperation of the seller to the hard work and extensive efforts by members of both the LIV Sotheby’s and Action Team Realty brokerages, it was a wonderful case study of how Platinum’s luxury auction process and the luxury brokerage industry can work hand-in-hand to create an exceptional result.”

The property sits on 45 acres in the Cathedral Pines community of Colorado Springs, and within just a 45-minute drive from the heart of downtown Denver. The upscale, residential development spans 810 acres in the Black Forest region, and includes 170 homesites featuring large estates situated on parcels of 2.5 acres or more.

While seven bidders registered for the no-reserve auction, Platinum reported that the sale was a result of a direct negotiation with one of those seven bidders, which occurred in lieu of a live auction sale. “Such direct negotiations are not an uncommon part of our process,” stated David Ashcroft, Platinum’s Director of Business Development. “In any given year, they account for 10-15% of gross sales.”

With three living levels, more than 13,000 square feet of living space, and a total of 6 bedrooms, 7 full and 3 half baths, the home is ideal for a large family. Features include an executive study/office, gourmet kitchen, and a large sunroom that opens to an oversized terrace. The lower level of the estate offers a home theater, billiards, wine storage, fitness center, and a “swim spa” indoor pool with a rock grotto design. And for the kids, there is also a custom-built, two-story tube slide that provides access from the main to the lower level.

Additional information on the sale is available at PlatinumLuxuryAuctions.com, or by contacting a member of the Platinum team at 800.262.5132.