FAIRFIELD, Conn., Oct. 23, 2017 /PRNewswire/ -- On Saturday afternoon at 1pm (ET), one of Redding, CT's most notable estates will be offered for sale at a live auction on the property site. The historic estate at 230 Poverty Hollow Road - sometimes referred to as the Able Morehouse, after its original owner who first built the home in 1768 - was previously offered for sale for $5.5 million, but will be sold at auction to the highest bidder who meets or exceeds the auction's reserve bid of only $1.25 million. Luxury real estate auction firm Platinum Luxury Auctions is working in cooperation with listing agency William Pitt Sotheby's International Realty for the transaction. Listing agent Laura Freed Ancona is the agent of record for William Pitt. Bidders wishing to participate in the October 28^th sale must first contact Platinum in order to satisfy the auction's registration requirements.

This auction represents the second time Platinum and Ms. Ancona have joined forces for the sale of a Fairfield County luxury home. In May, they successfully sold the historic Sunset Hall estate in Ridgefield for $3.65 million. That property never actually made it to a live auction, as one of the bidders contracted to purchase the home immediately prior to the auction date.

"We're thrilled to work with Laura on another historic property in Fairfield County," stated David Ashcroft, Platinum's director of business development. "These types of unique estates often require a marketing and sales approach that goes outside-of-the-box in order to augment traditional brokerage sales efforts."

To be sure, the homeowners, who stated they have invested "between $5 million and $6 million" into the property to date, retained Platinum for the sale after being frustrated with the market's lackluster response to their listing. Platinum specializes in the non-distressed sale of multimillion-dollar properties on behalf of their owners, and generally works hand-in-hand with listing brokerages like William Pitt as part of each transaction.

The property has enjoyed significant improvements since is original development. It was acquired by Noble Foster Hoggson, a prominent New York architect, in 1902. Hoggson redesigned the house in his version of the Colonial Revival Style. The current owners then again renovated the home in 2006, adding modern creature comforts. The two-story residence currently offers more than 6,300 sf of living space, with 6 bedrooms, 5 full and 2 half baths. A finished attic is convertible to a 7^th bedroom.

Large and open rooms, wide-plank hardwood floors, charming bedrooms, and six fireplaces collectively nod to the historic estate's rich history, while central heating and cooling, a spacious kitchen with butler's pantry and extensive upgrades throughout provide the requisite amenities of the contemporary era.

Property grounds include 24 acres of beautiful lawns and gardens, in addition to a heated pool with pool house and an 8,000-sf, two-story barn. The pool house offers a covered living and dining area and one full bath, while the barn offers radiant heat and one-half bath, and was built to residential standards in order to house the owner's automotive collection. Ten of the estate's 24 acres are protected under conservation, further ensuring its tranquility.

The property is available for open house previews daily until the auction date, between the hours of 12 and 4pm (ET). Additional information is available at ConnecticutLuxuryAuction.com, or by contacting a member of the Platinum team at 800.495.7765.

About Platinum Luxury Auctions
Platinum Luxury Auctions is responsible for developing the luxury auction^® model for high-priced real estate auctions, and owns the rights to the term "luxury auction." The firm specializes in the non-distressed sale of multimillion-dollar properties within and beyond the United States. Platinum's team has closed more than $718 million in luxury real estate auction sales to date, while consulting on more than $2 billion in additional luxury properties worldwide.

SOURCE Platinum Luxury Auctions LLC

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