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Luxury properties thrive on the auction block

Luxury properties are gaining increasing interest on the auction block. Take a look at some of them.

Olivia McCall

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High-priced luxury properties that are usually offered on open-market listings are fast gaining attention and traction on the auction block.

According to Mansion Global, these crown jewels of the real estate are expanding their market of potential buyers way past the admittedly considerable network of their own affluent soon-to-be former owners. The “boom” is global, and prestigious auction houses are getting into the act.

The qualifications for these lucrative properties to land into their list are long. The standards are equally stringent. The first criterion has to be a premiere “A+” location: the region is naturally attractive to wealthy buyers and homeowners and has to have a scenic landscape or an equally compelling natural element. New York City, Hawaii, and Aspen certainly fit the bill.

The second criterion demands that the property must be within or nearby the neighborhoods of the rich and the powerful. It does make sense for the A-list buyer to feel at home with his peers. The third criterion requires a smart experienced property owner who is familiar with the auction process. 

Fourth, the property itself must be a standout. Possible purchasers are millionaires themselves who already own a lot of attractive and high-priced homes and resorts. They must see something extraordinary in this particular property in order to participate in the auction.

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There are many qualifications for a property to be up in a luxury auction. (Source)

Fifth, the property must be move-in ready. No further repair or maintenance jobs are needed to make it continue to look posh and of high-quality. The new owner must be able to avail of its comfort and amenities as quickly as he would if he were booking accommodations in a five-star hotel.

The sixth and final criterion that the auction company house heads look at is the sellers themselves. They must, by necessity, also be among the ruling elite of this planet. His name on the property, or at least supporting it, would guarantee quality, prestige, and taste of the highest kind.

Luxury properties auction

Take a look at some of the luxury properties that do fit the bill. Top international auction houses will soon list these in their offerings. 

The White House on Virginia is a giveaway for the real thing in Washington, D.C. The marble interiors are complemented by high ceilings, formal dining rooms, and regal-looking fireplaces. Six bedrooms and seven baths make entertaining large company over the weekend easy and elegant. The auction will start at $2,000,000.

Classic and modern luxury combine in The Versailles Penthouse in Nevada. A rooftop view offers a stunning view of the Strip, while the opulent interiors echo French regalness. Some have described it as having your own palace in Las Vegas. Modern amenities include an ultra-lounge spa and your own concierge.

This, 7,200-square-foot mansion in California shows a waterfront view and access to a beach away from the madding crowds. Three storeys and a private balcony in the master’s bedroom will allow you a broader view of the Pacific Ocean. The five bedrooms and seven baths on the first floor are right beside the kitchen and the dining rooms. If you want to give swimming a break, catch the latest movies in the home theatre. Guests’ kids can movie-binge for a night while their fathers make deals while playing billiards.

Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.