Equestrian Estate in Wellington's Palm Beach Point Scheduled for Luxury Auction®

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Mar 30, 2017, 13:44 ET

WELLINGTON, Fla., March 30, 2017 /PRNewswire/ -- Luxury real estate auction firm Platinum Luxury Auctions has announced its second offering in Wellington, Florida for 2017. Following its February sale of a 10-acre estate in the city's Las Palmas subdivision - the firm's fourth consecutive auction sale in Wellington - Platinum is now offering a 5.5-acre equestrian estate located in the coveted Palm Beach Point community at a live auction on April 21^st. Although recently offered for $5 million, the property will now be sold to the highest bidder who exceeds the auction's reserve price of only $2 million. Platinum is conducting the auction in tandem with the property's listing agent, Kristina Gustafson of Southfields Real Estate Inc. in Wellington. Ms. Gustafson is also the property owner.

This 5.5-acre equestrian property in Wellington, FL is scheduled for sale at luxury auction(R) on April 21, 2017. Located within the community of Palm Beach Point, the property will be sold to the highest bidder at or above $2 million. It was recently offered for $5 million. Miami-based Platinum Luxury Auctions is managing the sale, which is Platinum's 5th consecutive offering in Wellington. Platinum has closed on 4-of-4 auctions in the city to date. EquestrianLuxuryAuction.com.

David Enriquez, Platinum's vice president of operations, stated that Gustafson hired Platinum for the sale of her personal horse property after becoming a believer in the auction process by watching her father participate as a bidder at the firm's first Wellington auction in the winter of 2013 - the sale of Two Swans Farm for nearly $7 million. In addition to applauding the auction's price, she was impressed that it lured her father's interest (although he was not the winning bidder).

"Her father was the type of buyer who could have purchased nearly anything he desired in Wellington at any time, but it wasn't until he received our luxury auction postcard and saw one of our television commercials that he went into action and actually considered a purchase," noted Enriquez. "It's certainly a powerful testimonial for the process."

The property offers 5.5 acres of manicured grounds within Wellington's prestigious Palm Beach Point community, a location that allows for a relatively modest hack to the Palm Beach International Equestrian Center, the host venue of the world-famous Winter Equestrian Festival, or "WEF." The minimum parcel size within the community is 5 acres, preventing crowded development and allowing for plenty of space for the residents and their horses to enjoy the neighborhood's miles of riding trails.

Built in 2000, the property features a 5,400-sf residence offering 4 bedrooms and 4 full baths. There is also an enclosed pool, bar, and an oversized master suite with a private veranda. The grounds include a 12-stall barn (which has its own full bath), 7 paddocks, and a 130-ft by 210-ft riding arena with new footing.

The property parcel was carefully designed in order to position its main structures – the residence, barn and arena – within comfortable proximity of one another while still allowing for a welcomed buffer between the residential and horse farm areas. This creates a serene environment for both homeowner and horse.

Wellington, Florida has a well-established reputation as one of the world's most prominent equestrian marketplaces. Its annual Winter Equestrian Festival is the world's longest-running horse show and competition. The event draws the Who's Who of the equestrian world to western Palm Beach County each year, many of whom lease or purchase property in Wellington. The city boasts residents such as Bill Gates, Tommy Lee Jones, Bruce Springsteen, Frank McCourt and billionaire media mogul John Malone.

The property is available for previews between the hours of 12 and 4pm (EDT) every Friday through Monday, until the auction. Additional information is available at EquestrianLuxuryAuction.com, or by calling Platinum's offices at 800.925.8231.

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 $662 million in luxury real estate auction sales to date, while consulting on more than $2 billion in additional luxury properties worldwide. The firm is responsible for developing the luxury auction^® model for high-priced real estate auctions.

SOURCE Platinum Luxury Auctions LLC