Two Westside Luxury Homes To be Auctioned in MarchFebruary 22, 2013, 11:47 AM HST (Updated February 22, 2013, 1:49 PM) · 0 Comments
A national luxury real estate auction firm will auction two West Hawaii properties to the highest bidder next month.
New York-based Concierge Auctions is facilitating both auctions in cooperation with Hawaii Life Real Estate Brokers.
The first auction will be held March 18 at a Hualalai property.
Located at 72–130 Hokuloa within Hualalai Resort, the 10,056-square-foot home is situated on 1.3 acres and was originally offered at $18.5 million. The property will be auctioned without reserve.
Featuring five bathrooms and five-and-a-half bathrooms, the Balinese-inspired custom home includes a gourmet chef’s kitchen and a saltwater pool with integrated spa.
Concierge Auctions is selling the property in cooperation with Beverly Molfino.
Another auction will be held March 19 for a property in Mauna Kea Resort.
Located at 62–3459 Aloalii Place, the home offers 3,668 square feet of living space on a 0.6-acre lot. Recently remodeled, the home features four bedrooms, three full and one half bathrooms, as well as new furnishings and appliances.
Originally listed for $3.095 million, the estate will be sold to the highest bidder at or above a $1.4 million reserve.
It is being sold in cooperation with Linda Bradley, R(B), and Karen Bail, R(B).
Laura Brady, president of Concierge Auctions, said while the auctions were purposely scheduled a day apart, it was happenstance that both properties came to the auction market at the same time. She noted that the firm is involved in another property auction on Oahu the week following the Big Island auctions.
The firm is not new to the Big Island real estate market.
Of the 24 luxury property transfers it has facilitated in the state during the past five years, 10 have been on island along the Kohala Coast from Waikoloa to Kukio.
According to Brady, auction sales have ranged from just under $1 million for vacant houselots in Kukio to $8.7 million for Cher’s home in Hualalai during a 2010 auction.
The two auctions in March double the amount of annual property transfers the firm has facilitated on island in the past two years. In 2011 and 2012 they sold one property per year, a $4.2 million sale in Waikoloa and a $6.3 million sale in Kukio, respectively.
In contrast, the luxury real estate auction firm executed seven sales on island during 2010, during the height of the recession.
Nationally, the principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years.
For more information on either auction call 877.762.9436 or visit conciergeauctions.com.