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Real Estate Auction Options Principal Gary Gilbert discusses luxury real estate auctions for both sellers and purchasers.

Blog entries categorized under Auction a Luxury Home

Downsizing Continues to be the Trend for Large Luxury Homes.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 21 May 2017 Category Auction a Luxury Home

Just as I wrote about last year, downsizing continues to be the dominant trend in our business of luxury home auctions.  My upcoming auction event is for an 18,000 +-  square foot home.  My sellers, just like many others, are simply done with the upkeep and the huge amount of energy and money required to continue maintaining their property.  They have had the home listed for an extended period of time with no results and are simply ready to move on with their life.  I have heard recently more than once "We just use two or three of the rooms in the entire home"

Does this sound like your seller client or someone you know?  Are you or is your client non-distressed?  Have you had a long listing with no results?  Are you or is your client downsizing or are there health issues?  If so, you may be a good candidate for our program.

Take the first step by contacting me. I'm happy to guide you through the process of selecting the best luxury real estate auction company.

Gary Gilbert

404.784.5759

Tags: downsizing a luxury home, luxury home auctions, luxury real estate auctions

Passing on Luxury Home Auction Sellers who are not Ready.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 22 May 2016 Category Auction a Luxury Home

So you've heard all about how a non-distressed luxury home auction may be a good fit for you or your client. You or your client meets all of the criteria I often discuss (non-distressed, may be downsizing, probably has experienced a lengthy listing).  But how good of a candidate are you or are you and your seller really?

It all comes down to how realistic one is regarding the true value of their luxury home they are considering auctioning.  The reason that something is not selling almost always comes back to price.  For example, if you or your client have had your property  listed for at least one year at $2.9m and your reserve price at auction has to be $2.4m, I can't help you.  No one can help you.  Back in 2007 when things were artificially booming, perhaps, but today no way.

In many cases, it is best for all parties to simply continue to market the home traditionally while the seller becomes more realistic on the true value of their home.  Many times, I will have clients come back to after a year who have gone through the process of price reductions only to still be stuck with the home they are trying to sell so they can close this chapter of their life cutting the anchor of never-ending maintenance and expenses.

Are you or are you and your client ready and realistic to chat regarding a possible luxury real estate auction?  If so, reach out to learn more.

Gary Gilbert

404-784-5759

Tags: luxury real estate auction companies, auction a premier home, luxury real estate auctions, auction a luxury home

So, is there a Reserve?

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 07 June 2015 Category Auction a Luxury Home

By far the most common question that I am asked initially when it comes to luxury real estate auctions is "Is there a reserve?"  Most people are not that familiar with auctions in general, especially auctions of high end properties which is somewhat of a niche market here in the US.  Of course the simple answer is yes, there are auctions with reserve as well as auctions without reserve or "absolute" auctions.

It is human nature that most people considering an auction of their personal residence would prefer to conduct an auction with reserve.  For more auction-savvy individuals, a no reserve or "absolute" auction may not seem as daunting as they understand the psychology of auctions and realize that a legitimate no reserve sale almost always generates better results.  Why do I use the word legitimate?  Because one needs to be very cautious when working with a firm who promotes every one of their auctions as "absolute" or "selling without reserve".  See more on this very, very important subject here.

So, how long has your luxury property been listed?  Are you downsizing?  Would you like to use a date-certain event to force affluent buyers to a point of action?  Have you ever considered a non-distressed auction event?  If so or if this is an entirely new concept to you, a good place to start would be here with me.  I am happy to advise you, steering you in the right direction.  Just ask.

Gary

404-784-5759

Tags: luxury home auction companies, luxury real estate auctions, luxury home auctions, absolute auctions, reserve auctions, reserve auctions

Luxury Homes and Art Auctions

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Wednesday, 08 April 2015 Category Auction a Luxury Home

I read recently here about an upcoming art auction for a Picasso piece.  The auction house mentioned that the valuation of about $140m would be one of the highest estimates ever put on a piece at auction.  So, why doesn't the owner just advertise the piece traditionally and sell it that way?  Because the owner knows that an auction will create the ultimate interest on behalf of international, affluent buyers forcing them to react on the seller's terms.  Egos and emotions will come into play and buyers will compete fiercely for the right of ownership paying top dollar.

Many people don't realize that the same auction concept works well with non-distressed sellers of high-end real estate.  While most properties are not valued in the $140m range, thousands and thousands of them are valued in the $2m - $20m plus range.  What better way to showcase one property than to use a date-certain event to force buyers to a point of action?

How does all of this work?  Who is the best luxury home auction company?  How is the commission structured?

How long has your luxury home been listed?  Are you ready to close this chapter of your life and move on? If so, I am happy to educate you on the process and answer all the question you may have.  Please reach out anytime.

Gary

404-784-5759

Tags: luxury real estate auction companies, luxury real estate auctions, luxury home auctions, art auctions

How Long Has Your Luxury Home Been Listed?

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Sunday, 29 March 2015 Category Auction a Luxury Home

So, how long has your high end home been listed?  Unless you are located in a market like San Francisco or the one I live in here in Austin, your answer is probably a long time.  Let's take a look at possible reasons:

Location?  Price?  The home itself?  Your agent?  Maybe, but more than likely not.  How many other homes in a similar price range are actively listed within say 20 miles?  I bet a numerous amount of inventory is out there competing with your home.

Have you ever considered working with someone like myself and conducting a non-distressed luxury home auction event?  By using a date-certain event, you would be able to force end-user buyers to react by giving them a deadline.  You would also be able to elevate your home for sale above all of the other competing for attention by focusing all of the attention on your property.  Believe it or not, your auction event could literally "freeze the market" in your area.  Why would someone buy anything comparable in your area prior to your event occurring when the feel like they may be able to purchase yours?

I realize that this may be a foreign concept to many of you but with the right property, it can, and does, work well.

Want to learn more? I am happy to have a dialogue.  Please contact me anytime to discuss.

Gary

404-784-5759

Tags: luxury real estate auction companies, high end home auctions, luxury real estate auctions, auction a luxury home

Auction my Luxury Home? An Option One May Want to Consider.

by Gary Gilbert
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Friday, 13 March 2015 Category Auction a Luxury Home

Auction my luxury home.  Really?  Yes, really.  Many don't realize that this option even exists but it does.  Most people associate the word auction with distress or "fire sale" but don't realize that auctions can also be non-distressed.  Think about a fine art auction or a high-end car auction.  How are those assets offered?  They are often auctioned.  The same concept applies to high-end home auctions.

So, how does all of this work?  What is the commission? Can I set a reserve?  I am the listing agent, how do I remain involved with my client?  These are just a few of the questions that I answer on a daily basis.

Are you wondering where to start? Please reach out to me anytime with questions.

Gary

Tags: luxury real estate auction companies, high end home auctions, luxury real estate auctions, auction my luxury home
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