KNOXVILLE, Tenn., April 25, 2011 /PRNewswire/ -- A stunning, Southern home modeled after an Italian villa boasting an impressive 36,000 square feet with breathtaking views of the Tennessee River, aptly titled Villa Collina, will sell during a live, on-site auction on May 26, Concierge Auctions has announced. Previously listed for $21 million, the property will be auctioned without reserve, meaning it will sell to the highest bidder regardless of price. The sale is being conducted in cooperation with listing agent Debbie Elliott-Sexton of Alliance Sotheby's International Realty.

"Villa Collina offers everything a luxury homeowner could want – unrivaled amenities, impeccable design, stunning river views and ultimate privacy," Elliott-Sexton stated. "Selling without reserve, the winning bidder will be the new owner of their dream home on May 26."

Located at 5628 Lyons View Pike, Villa Collina is arguably the most breathtaking and exquisitely designed private estate in Tennessee. Situated on 12 acres of meticulously manicured landscaping on one of the highest hills of historic Lyons View and fully enclosed by a private gate and state-of-the-art security system, Villa Collina boasts breathtaking views of the Tennessee River and Great Smoky Mountains, which render complete, scenic privacy. Elegantly designed and richly appointed in the Italianate tradition, the over 36,000-square-foot estate features the finest adornments, including Northern Italian terracotta tiles; Swarovski crystal, Venetian and antique chandeliers; Honduran mahogany; hand-painted tray, vaulted and coffered ceilings; intricate mosaics; Turkish Afyon sugar marble and Sherle Wagner fixtures and hardware. Totaling 50 rooms, Villa Collina fosters the ultimate in entertaining with a host of unique amenities, including a 2,600-square-foot wine cellar with grotto and cantina, two heated pools — one indoor and one outdoor, sauna, dance floor, exercise room, tri-level library, home theatre, two studies, 11 gas log fireplaces, elevator that services all three floors, secluded guest suite, staff quarters and seven-car garage — one of which will accommodate a limousine.

"My choice to auction Villa Collina was a calculated business decision. The property is much more than I need at this point, and I'm ready to move on to the next chapter in my life," stated Dean Conley, seller of the estate. "I put a lot of work into the home's custom design and development, and I hope the new owners will enjoy it as much as I have."

"Concierge Auctions is thrilled to offer such a remarkable and luxurious estate as Villa Collina," stated Laura Brady, Vice President of Marketing for Concierge Auctions. "This is an ideal property for our platform – one-of-a-kind with extensive amenities, in a premier location, and in pristine condition. This auction is a genuine opportunity, and any buyer searching for a premier Southern waterfront estate should take notice."

Knoxville is the third-largest city in Tennessee, and home of the University of Tennessee's flagship campus. The city's economy is largely fueled by the main campus, the Oak Ridge National Laboratory and other Department of Energy facilities in nearby Oak Ridge, the National Transportation Research Center and the Tennessee Valley Authority. Knoxville is home to a rich arts community and has many festivals throughout the year. Its contributions to old-time, bluegrass and country music are numerous. In April 2008, Forbes Magazine named Knoxville among the Top 10 Metropolitan Hotspots in the United States. Knoxville is located just an hour and a half drive from Asheville, South Carolina and three hours to both Nashville and Lexington, Kentucky.

The auction of Villa Collina will be conducted "live" on May 26. Phone and Internet bidding is available. A 2.4% commission is offered to the buyer's representing broker. See Auction Terms and Conditions for full details. The property can be previewed daily between 1 and 4pm by appointment. For more information visit www.VillaCollinaAuction.com or call 877-217-2001.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide through an accelerated marketing process that obtains fair market value for high-end properties in a 60-day timeframe. As a preferred auction partner to Sotheby's International Realty® and other luxury brokerage firms nationwide, the company has executed auctions from New York to Hawaii and hosts a database that includes more than 100,000 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