Always Wanted Your Very Own Castle? Head to Redstone, Colorado Oct 7th

Platinum Luxury Auctions Announces Auction of Historic Redstone Castle

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Sep 20, 2016, 10:00 ET

ASPEN, Colo., Sept. 20, 2016 /PRNewswire/ -- At the turn of the 20th century, John Cleveland Osgood was a powerful coal and steel industrialist who pioneered his way into being one of the wealthiest people in the United States (purportedly raking as the sixth wealthiest man in the country in 1900). A significant portion of Osgood's empire was based just outside of Aspen, in Colorado's beautiful Roaring Fork Valley. There, Osgood literally built – and founded – a town, known to this day as Redstone, Colorado. In addition to housing for his employees and public buildings such as a hospital and library, Osgood constructed his own, magnificent residence, boasting 42 rooms and nearly 24,000 square feet, and situated on 150 private acres.

Platinum Luxury Auctions has announced the upcoming auction of Redstone Castle, in Redstone, Colorado. Located just outside Aspen, the castle was built for industrialist John Cleveland Osgood, who was the 6th wealthiest man in America in 1900. Though recently listed for $7.5 million, the Castle will be sold at a live auction on October 7, 2016 to the highest bidder above only $2 million. The historic, 42-room mansion sits on 150 private acres, and also includes a 4,700-sq. ft. carriage house with 12 horse stalls. Platinum is managing the sale in cooperation with listing brokerage Aspen-Snowmass Sotheby's International Realty. Learn more at COLuxuryAuction.com.

On October 7, 2016, Osgood's former home - most commonly known as "Redstone Castle" (though also referred to as Cleveholm Manor and Osgood Castle) - will be sold at a live auction managed by luxury real estate auction house Platinum Luxury Auctions. Although recently listed for $7.5 million, the property will now be sold to the highest bidder who meets or exceeds a bid of only $2 million. Platinum is conducting the auction sale in cooperation with Aspen-Snowmass Sotheby's International Realty, the property's brokerage of record. Listing agents Ted Borchelt and Jana Dillard are representing Sotheby's for the sale.

The property has been through a series of owners since Osgood's death in 1926. It remains a fairly popular tourist attraction - the current owner opens the property for paid public tours – and serves as the centerpiece of the small mountain hamlet of Redstone.

Listed on the National Register of Historic Places since 1971, the Castle provides a unique glimpse into the style and social culture of America's elite at the turn of the 20th Century. The Tudor-style estate is filled with the finest furnishings of its era: wooden paneling designed by Gustav Stickley (famed for his work in the American Craftsman style), intricately cast brass globe lights created by Louis Comfort Tiffany (of the Tiffany & Co. family), and countless pieces of furniture and artwork collected by the Osgoods on their frequent trips to Europe.

When Osgood was in residence, Redstone Castle played host to American icons such as John D. Rockefeller, J. Pierpont Morgan and Teddy Roosevelt. In 2006, the estate was used in the filming of the Hollywood movie The Prestige, featuring Christian Bale, Hugh Jackman and Scarlett Johansson.

"Perhaps one of the most intriguing aspects of these historic properties is the quality and composition of their structures and décor," noted Trayor Lesnock, Platinum's founder and president. "Redstone Castle was constructed using materials and methods that either no longer exist today, or are simply too costly and impractical to reproduce. It's truly a case of the, 'They just don't make things like they used to,' phenomenon." Lesnock noted that unique aspects of the property include ceilings finished with real gold leaf, walls upholstered in fine silks, and doors covered in elephant hide that has been dyed in various colors.

In total, the castle offers 21 bedrooms, 14 full and 2 half baths, while a separate carriage house adds another 4,700 square feet, with 3 bedrooms, 2 full and one half baths. Although designed in the same Tudor style as the castle, the carriage house was renovated in the 1990's, and includes twelve beautiful horse stalls and a tack/display room on its lower level.

While the Castle's current owner chose to keep the property largely as a private asset, limiting its commercial use to basic tours, the property can be repurposed for other commercial uses, and was in fact once operated as a boutique bed and breakfast by one of its past owners. "In addition to revitalizing the hotel concept, the property has excellent potential as a fine restaurant, sporting club, educational or rehabilitation center, or as a wedding and special events venue," noted Aaron Carmody, Platinum's project manager for the transaction. "Of course, someone can always use the property as his own private castle."

Redstone Castle will be open for previews daily until the auction date, between the hours of 9am and 1pm MDT. Interested parties may contact a Platinum associate at 800.970.6841, or visit COLuxuryAuction.com for photos, video, and an extensive folio of informational documents.

About Platinum Luxury Auctions

Platinum Luxury Auctions specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $510 million in luxury real estate auction sales to date, while consulting on more than $1.8 billion in additional luxury properties worldwide. The firm is responsible for developing the luxury auction^SM model for high-priced real estate auctions.

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SOURCE Platinum Luxury Auctions LLC