Auction of the J. Martin Benchoff Estate Near Camp David in Waynesboro, Pennsylvania to Commence Live at the Property on June 25

Reserve set at $2.5 million, extended auction date makes market aware that this stunning property will absolutely sell above that price

Jun 12, 2010, 11:07 ET from Concierge Auctions

WAYNESBORO, Pa., June 12 /PRNewswire/ -- The live, on-site auction luxury real estate auction of a 150-acre estate near Camp David with 15,000-square-foot main residence, equestrian facilities and some of the best private property hunting in the Northwest has been moved to June 25, and the reserve has been lowered to $2.5 million, announced George Graham, CEO of Concierge Auctions. Previously offered for $7.9 million, the property will absolutely sell to the highest bidder above $2.5 million, and the new auction date offers buyers and the real estate community additional time to learn more about this important opportunity.

"The owners of this spectacular family compound are committed to the Concierge Auctions process. By extending the date and reducing the reserve amount, we're generating more exposure and gaining additional bidders who understand and believe in the opportunity this auction represents. The seller is willing to take full advantage of our auction process by reducing the minimum bid requirement to attract the maximum number of bidders to determine this property's true market value," Graham stated.

The sale is being conducted in cooperation with Gary Gestson, a certified Historic Property Specialist with Long & Foster Real Estate.

"On the heels of two successful sales with Concierge Auctions in Maryland in the last two months, I know first hand that they're the best in the industry and trust the revised strategy will ensure we find the right buyer for this extraordinary property," Gestson stated.  

The J. Martin Benchoff Estate is a family compound located on Old Route 16 in Waynesboro, Pennsylvania, just a 90-minute drive from both Washington, D.C. and Baltimore and 3 hours from Philadelphia. The grandest of the estate's four residences, a 15,000-square-foot custom home built of native stone, is surrounded by magnificent grounds with spectacular views.

Known for its scenic vistas and lush rolling pastures, the renowned private hilltop estate rests 1,000 feet above sea level with stunning 50-mile views of the historic Pennsylvania/Maryland Cumberland Valley. The property offers a rare blend of mature forest. It has been impeccably maintained for over a century and is a sportsman's hunting paradise, stocked with indigenous wildlife including whitetail deer, wild turkey and small game. The late J. Martin Benchoff was an avid hunter. There is also an equestrian facility with stables and outbuildings and a working farm on the property, and access to the Appalachian Trail is an estimated 100 yards away.

The main house features five bedrooms, seven baths, spacious grand rooms with multiple fireplaces, two fully equipped kitchens, and a master suite with a Jacuzzi room and separate redwood sauna. The great room on the lower level can accommodate more than 100 people for entertaining and includes a wet bar, spacious kitchen with wine cellar, and a library with built-in bookshelves. A flagstone patio wraps around the house to an in-ground swimming pool with pool house and a fenced tennis court.

"We are pleased with the widespread exposure and caliber of interested parties Concierge Auctions has generated, and the decision to extend the date and reduce the reserve will enable more bidders to have the chance to achieve this exceptional property," said Martin Benchoff, Jr., of the Benchoff family. "The location is secluded and exclusive, while convenient to several nearby large cities, making this estate a truly unique offering. The new reserve amount will certainly be compelling to the market, and I look forward to a successful sale on the 25th."

The live, on-site auction of the J. Martin Benchoff Estate on Old Route 16 in Waynesboro, Pennsylvania will be held Friday, June 25 at 11 a.m. EDT. Attendance will be limited to registered bidders and their representatives. The estate is available for preview daily from 3 to 6 p.m. and by appointment. View Terms and Conditions of Sale for full details. For more information, visit www.BenchoffEstateAuction.com or call 866-647-9419.

About J. Martin Benchoff (1927-2007):  J. Martin Benchoff was an industrialist and big game hunter, and a life long resident of the Waynesboro area. He graduated from the University of Pennsylvania and in 1954 began his career at Grove Manufacturing Company in Shady Grove, PA as a farm wagon salesperson. He went on to become President in 1969 when the company was purchased by Walter Kiddle and Co. He became Chairman of the Board in 1980 and then Chairman Emeritus in 1988 after Grove became part of Hanson Industries.  Together with Grove's founders, John Grove, Dwight Grove and Wayne Nicarry, he took Grove Manufacturing from a small regional producer of farm equipment to the leader of the international mobile hydraulic crane market.  Benchoff's contributions to the local community were significant. He was a founder of the Waynesboro Day Care Center, a benefactor of the Waynesboro Y.M.C.A., and most importantly a creator of jobs. He served on the Board of Directors of the former First National Bank of Waynesboro, presently M&T Bank, and the Waynesboro Hospital Board of Directors. He was a member of many clubs and organizations ranging from Metropolitan Club of New York to the Blue Ridge Sportsman Club.  The greatest passion in Benchoff's personal life was big game hunting, which he pursued throughout the world. Although he took many exceptional trophies in a lifetime of hunting, his proudest achievement was a stone sheep taken in British Columbia and two dall sheep from the Yukon Territory, which placed high in the Boone and Crocket record book.  Like all true hunters, he was first and foremost a conservationist who always looked for the most mature animal to harvest.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide.  A leading provider of services for individual and institutional owners of luxury residential real estate, Concierge Auctions is revolutionizing the industry by offering an accelerated marketing process that obtains fair market value for high-end properties in a determined time frame.  Building on a centuries-old method for selling the finest art and antiquities, the company combines the latest technologies and marketing programs with experienced personnel to generate the maximum value for the most premier properties in an open, competitive forum.  As a preferred auction provider to Sotheby's International Realty® and other luxury brokerage firms, the company has executed auctions throughout the country, from New York to Hawaii.  The company's database includes more than 30,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories.  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, call 888-966-4759 or visit www.ConciergeAuctions.com.

SOURCE Concierge Auctions



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