Sotheby’s Concierge Auctions announces landmark 2022 results driven by continued innovation following the firm’s acquisition by Sotheby’s and Anywhere Real Estate, Inc.; a historic series of marquee sales at Sotheby’s New York, including the first exhibitions to ever gavel and livestream at the esteemed auction house; its world-record breaking $141 million sale of ‘The One’ in Bel Air, California, the highest sale of a listed property in 2022; and further expansion of global audiences through integration with Sotheby’s and RM Sotheby’s.
Sotheby’s Concierge Auctions' total sales reached heights of over $525 million in 2022, with an average sale price of $6 million, representing a 20% increase year over year. The firm processed over $3.7 billion in cumulative bids and an average of six bidders per auction.
Owning one of the industry’s most comprehensive databases of high-net-worth global property connoisseurs and collectors, Sotheby’s Concierge Auctions matches sellers of one-of-a-kind properties with many of the world’s most capable buyers via a state-of-the-art digital marketing, property preview, and bidding platform. With an extensive network of independent luxury agents, Sotheby’s Concierge Auctions serves as an additional tool for agents to market and sell unique, one-of-a-kind luxury properties around the world.
“In 2022, the ultra luxury real estate market was a star, outperforming the broader market and overall economic growth. In the U.S. alone, seven properties sold over $100 million, and the highest sale of a listed property was our auction of ‘The One’ in Bel Air, California. We look forward to proving Sotheby’s flight towards quality within the real estate auction sector in 2023, as we hone our focus on curating the world’s finest properties, innovating our digital client experiences, and continuing to expand our relationships with high-net-worth property collectors and connoisseurs around the globe.”— Laura Brady, Sotheby’s Concierge Auctions CEO
EXPANDING GLOBAL FOOTPRINT, PRESENCE, AND TEAM
As the leading global luxury real estate auction marketplace, Sotheby’s Concierge Auctions continued its international expansion with first-time properties in Japan, Croatia, Indonesia, and Austria, and grew its global team by 38%, including focus on growing the firm’s presence across Europe and Asia: Zackary Wright as Executive Vice President, Private Client Group, Asia Pacific, formerly Executive Director for Christie’s International Real Estate and Senior Vice President of Sotheby’s International Realty; Charlie Smith as Executive Vice President of EMEA, owner of London Real Estate Advisors (LREA) and formerly Managing Director for Sotheby’s International Realty; and Sonny Saito as Director of Business Development, Asia Pacific, formerly CEO for JCR Christie’s International Real Estate.
The year also welcomed new appointments to its global business and corporate development teams with Jeff Rhoades and Jana Willardsen, industry veterans; Mario Vargas as Senior Vice President of Corporate Development; and Susan Janowsky as Auction House Relationship Manager, a real estate specialist and liaison between Sotheby’s Concierge Auctions, Sotheby’s International Realty, and Sotheby’s, complementing the firms’ cross marketing initiatives and offerings. The firm also welcomed several new classes of members to its sales team, bringing a wealth of knowledge and experience and an international footprint.
This year also saw the revival of the firm’s highly-anticipated live auction Global Sales, with presence in London, Dubai, Singapore, and Hong Kong, and momentous live close out events at Sotheby’s New York, in September and December.
Further highlights• First-ever exhibitions of real estate to gavel and livestream at Sotheby’s New York• Over $125 million in total sales• More than $1.5 billion in competitive bids• 92% sold by lot• Average of 7 bidders per property
SUSTAINED DEMAND FOR $10-MILLION-PLUS LUXURY ESTATES DRIVES RECORD-BREAKING SALES
Representing more than 90 percent of $10 million-plus auction sales, Sotheby’s Concierge Auctions continued to break records. A highlight was its sale of ‘The One’, America’s largest residence, which represented the highest sale of a listed property in 2022 and exceeded the prior world record for highest price of a single-family home sold at auction by nearly 50%.
Additional marquee sales above $10 million include:• 322 Lark Lane, Alamo, CaliforniaListed by Dana Green of Compass CaliforniaSold for $10.08 million
• 3114 Blackhawk Meadow Lane, East Bay Area, CaliforniaListed by Debi Ann DiCello of Sotheby's International Realty San FranciscoSale Pending for $10.36 million
• Amanpuri Villa, Phuket, Thailand Listed by Prakaipeth Meechoosarn of CBRESold for $11.21 million
• 3996 Inverness Drive, Houston, TexasListed by James R Jay Monroe of Martha Turner Sotheby’s International RealtySold for $12.32 million
• 900 West Stafford Road, Westlake Village, CaliforniaListed by Joan Ruth Young and Cathie Messina of Sotheby's International RealtySold for $12.65 million
• 259 Worth Avenue, Palm Beach, FloridaListed by Kean Development CompanySold, Listed for $19.5 million
• 777 Sarbonne Road, Los Angeles, CaliforniaListed by Aaron Kirman of Compass and Mauricio Simon Umansky of The AgencySold for $48.048 million
LUXURY PRESENCE EXPANDS VIA SOTHEBY’S, RM SOTHEBY’S, AND ANYWHERE
Following last year’s strategic partnership and acquisition by Sotheby’s, the world’s premier destination for fine art and luxury goods, and Anywhere Real Estate, Inc., the largest full-service residential real estate services company in the United States, the firm rebranded to Sotheby’s Concierge Auctions in June.
Continuing to partner with all real estate companies, and through these additional resources and reach, Sotheby’s Concierge Auctions heightened its servicing of all brands and clientele better than ever before whilst continuing its alliances with leading brokerages, including Sotheby's International Realty, Engel & Völkers Americas and Canada, Coldwell Banker, Corcoran, Better Homes and Gardens, ERA Real Estate, Berkshire Hathaway HomeServices of America, Luxury Portfolio International, Who's Who in Luxury Real Estate, Leverage Global Partners, Naef Prestige Knight Frank, and more.
Presence was additionally expanded through cross-marketing initiatives spanning events, digital optimization, and collaborations with Sotheby’s, Anywhere, and RM Sotheby’s.
GROWING AUDIENCES Sotheby’s Concierge Auctions saw a strong audience increase in both reach and demographics with continued focus on the future and product refinement, growing their global database by nearly 10% year over year.
Further highlights• First-ever live-streamed auction • 124% increase in Facebook followers• 55%+ increase in Instagram followers• 12% website users increase, with webviews from 230 countries and territories to casothebys.com
SOTHEBY’S CONCIERGE AUCTIONS SOCIAL IMPACT: KEY FOR KEY®
In partnership with Giveback Homes, Sotheby’s Concierge Auctions’ Key For Key® giving program guarantees that for every home the firm sells, a home is funded for a family in need since 2017, the program’s origin year.
AGENT ADVISORY BOARD AND INDUSTRY ACHIEVEMENTS
Sotheby’s Concierge Auctions Agent Advisory Board continued in its fourth year with a hand-selected group of top agents and brokers created to act as a think tank on the state of luxury real estate.
Collectively, the agents and brokers selected for the Advisory Board have achieved billions of dollars in global luxury real estate sales, and have extensive familiarity to the high-end auction process, as well as a record of success with the firm.
Members include• Frank Aazami of Russ Lyon Sotheby's International Realty in Phoenix, Arizona• Matt Beall of Hawaii Life Real Estate Brokers in Princeville, Hawaii• Paul Benson of Engel & Völkers in Park City, Utah• Kyle Crews of Allie Beth Allman & Associates in Dallas, Texas• Brad Hermes of Keller Williams in Houston, Texas• Seth O'Byrne of Compass in San Diego, California• John McMonigle of The McMonigle Group in Newport Beach, California• John-Mark Mitchell of Mitchell Prime Properties in Winston-Salem, North Carolina• Billy Nash of Illustrated Properties in Palm Beach, Florida• Kristen Routh-Silberman of Douglas Elliman in Las Vegas, Nevada
In addition, Sotheby’s Concierge Auctions experienced a year of growth for industry accolades and achievements, propelled by the ‘Significant Sale’ award by Who’s Who in Luxury Real Estate, a worldwide collection of top brokers representing many of the finest luxury properties across the globe; the ‘Best City Sale’ 2022 Golden I Award by Inman News, the real estate industry’s leading source of real estate news; and 8 Telly awards, honoring excellence and the best work in video and television across all screens.
LOOKING AHEAD
Coming up in 2023, with Anywhere’s more than 300,000 globally affiliated real estate agents across six brands, Sotheby’s Concierge Auctions will continue to benefit from increased distribution, lead generation, and industry-leading data scale, along with enhanced marketing visibility. Sotheby's and Sotheby’s Concierge Auctions will expand live auctions offerings all year-round, increasing presence in New York and adding London and Hong Kong to the auction calendar, enabling property connoisseurs and luxury collectors to acquire luxury real estate alongside fine art and luxury goods in a live auction setting internationally, in addition to digitally, from anywhere in the world—a milestone that will be marked with exceptional exhibitions and events.
The firms have announced their first Global Sale of 2023 showcasing some of the finest real estate offerings in the world. Fully integrated within Sotheby’s bi-annual Luxury Week sales series—displayed and sold alongside rare and exceptional offerings of jewelry, watches, sneakers, and more—a selection of offerings will close live at Sotheby’s New York and online on 7 March.