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Sotheby’s Concierge Auctions: Historic Sale at Sotheby’s London Achieves Over US$160 Million in Aggregate Bids

Sotheby’s Concierge Auctions: Historic Sale at Sotheby’s London Achieves Over US$160 Million in Aggregate Bids

May 30, 2024

Curating the very best-in-class, Sotheby’s Concierge Auctions, the world's largest luxury real estate auction marketplace, is pleased to announce the success of this evening’s inaugural ‘Exceptional Global Properties’ sale at Sotheby’s London. From the esteemed Sotheby's London saleroom, the auction streamed live on conciergeauctions.com and sothebys.com. Notably, the sale realized 83% of lots sold and over US$160 million in aggregate bids placed, further cementing Sotheby’s Concierge Auctions’ market leadership in luxury real estate auctions, setting new benchmarks for the industry.

As the first-ever exhibition of luxury real estate to gavel live in Europe at Sotheby’s since its inception in 1744, the evening sale featured a curation of Sotheby’s International Realty offerings representing some of the finest properties available from across the globe. With an audience of nearly 200 in attendance, over 30 property connoisseurs competed enthusiastically from North America, Europe, and Asia via a team of specialists and online. The event was conducted by Sotheby’s Concierge Auctions’ head auctioneer Frank Trunzo and Michael Macaulay, deputy chairman of Contemporary Art and a leading auctioneer at Sotheby’s in London.

Held as part of Sotheby's ‘The Luxury Sales,’ a series spanning Hong Kong, London, Paris, and New York, properties were on public view at Sotheby’s New Bond Street location, displayed alongside fine art, jewelry, watches, designer handbags, and more. 

Headlining the evening of sales was ‘Migdale Castle’ in upstate New York, a stunning, nearly 200-acre European-inspired property built in 1927 for Andrew Carnegie’s daughter with sweeping Catskills views. One of the Hudson Valley’s most iconic properties, the expansive, renovated estate of four stories, 34,000 square feet, and 29 rooms, achieved a sale price of US$8.96 million in cooperation with co-listing agent Heather Croner of Heather Croner Real Estate Sotheby’s International Realty.

“Tonight, we’re honored to make history yet again and celebrate another monumental achievement with Sotheby’s in London, as the first time luxury real estate gavels on the auction stage of the renowned auction house in its 280-year history in Europe,” stated Krystal Aeby, president of Sotheby’s Concierge Auctions. “Our global sales continue to be our most highly sought-after events. On the heels of our groundbreaking sale in Hong Kong, our inaugural sale in London is a testament to the strength of our platform, reach, dedication to excellence, and our commitment to breaking barriers as the leader in our industry."

Facts & Figures from the Auction

• The sale is the first exhibition of luxury real estate in history to gavel at Sotheby’s London

• Impressive results, with 83% sell through rate across six sales

• Over US$160 million and 52 in aggregate bids placed

• 84% increase above average Starting Bid prices achieved

• Competitive bidding and participation from 30 property connoisseurs North America, Europe, and Asia 

Further Auction Highlights

‘Camelot Ridge Resort,’ located at 534 S 500 E #57 in Avilla, an oasis of 170-plus acres of pristine hardwood trees, rolling hills, miles of trails, and a serene lake that give way to a majestic lodge in the heart of Indiana saw an over 121% increase above average Starting Bid prices achieved for a sale price of US$2.576 million in cooperation with Sandy Ginn of Encore Sotheby's International Realty.

6350 North Lake Boulevard in Tahoe Vista, California, featuring award-winning design and effortless luxury and majestic mountain views on gorgeous Lake Tahoe, saw an impressive 12 bidders, achieving a sale price of US$6.272 million in cooperation with Trudi Lee and Camille Duvall of Sierra Sotheby's International Realty. 

21 Teresa Lane in Tybee Island, Georgia, a stunning, fully remodeled southern gem nestled on over two acres of secluded beachfront with captivating coastal landscape views, saw nine bidders and an over 93% increase above average Starting Bid prices achieved for a sale price of US$3.92 million in cooperation with Kelli Weis of Daniel Ravenel Sotheby's International Realty.

2110 North Ocean Boulevard #26D in Fort Lauderdale, Florida, a stunning four bedroom penthouse at The Palms Tower II with unlimited access to five-star amenities and private beach access, achieved a sale price of $3.108 million in cooperation with Linda Seitel of ONE Sotheby’s International Realty.

The sale’s ‘Important Global Properties’ collection continues online, with bidding closing between 17-21 June, further coinciding with Sotheby’s exhibitions of its Modern British & Irish Art sales. Featured in the upcoming sales are a cliffside villa in Mykonos, Greece, a historic estate in the Italian mountainside town of Asti, a luxurious oceanfront enclave in Malibu, California, and three beachfront retreats along the pristine Gulf Coast of Florida in the enclaves of Nokomis and South Palm Beach. 

As part of Sotheby’s Concierge Auctions' Key for Key® giving program in partnership with Giveback Homes, the closings will result in funding towards new homes built for families in need.

Sotheby’s Concierge Auctions is currently accepting consignments for live sales during Sotheby’s ‘The Luxury Sales’ in Hong Kong in September and New York in December.

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