Miami Heat Forward Mike Miller Sends Florida Oceanfront Estate (Back) to the Auction Block

FORT LAUDERDALE, Fla., June 1, 2012 /PRNewswire/ -- One of the most unique waterfront estates in Broward County, Florida has been placed on the auction block – again. Although the property was originally scheduled for auction in February, it will now be sold to the highest bidder on June 30th regardless of the price, meaning that a sale is essentially guaranteed. The sale will be handled by Platinum Luxury Auctions LLC, an auction house specializing in multi-million dollar real estate and asset sales.

The property's owner, NBA star Mike Miller of the Miami Heat, first enlisted Platinum to offer the Hillsboro Shores estate at one of its luxury auctions in February, 2012. Although that auction generated considerable interest, both Miller and Platinum decided to re-offer the property in June.

"Although our luxury auction model – and our track record – is built upon providing date-certain sales for our clients using one established auction date, we do have a re-offering program for unique cases," said Trayor Lesnock, president of Platinum Luxury Auctions. According to Lesnock, in these select cases, the firm will place a property into an initial auction round to gauge the market's level of interest, and then hope to capitalize on that interest in a subsequent auction sale. "This is the exact program we are using for Mr. Miller's estate."

The property's unique location within the Hillsboro Inlet allows for both protected ocean frontage and large yacht dockage capabilities, a rare amenity for oceanfront property in the area. It boasts three levels of living space, totaling nearly 9,000 interior sq. ft. and 2,700 sq. ft. of finished outdoor area. There are 6 beds, 8 full and 2 half baths.

Prominent features of the residence include an elevator, 2 gourmet kitchens, a climate-controlled cigar and wine room, a media room, game parlour, onyx wet bar, marble fireplace, custom aquarium and a Crestron system for home audio and video. The outdoor living area features a swim-up pool bar and a newly built entertainment lounge. There is also a 100 ft. marble dock and two lifts for small watercraft. Years ago in a headier market, the home sold for a cool $12 million. It had been listed for sale for $9 million before being scheduled for auction.

The Hillsboro Shores community lies just north of Fort Lauderdale and immediately south of the illustrious Hillsboro Mile, one of the most coveted residential waterfront locations in South Florida (also known as "Millionaire's Mile" for the collection of mega-mansions that dot the coastline there).

For more details on this luxury auction, please visit OceanfrontRealEstateAuction.com or call 1.800.262.5132.

About Platinum Luxury Auctions LLC: Platinum is the only auction company founded exclusively on luxury, non-distressed real estate auction experience. The firm's principals have closed more than $250 million in luxury real estate auction sales, and have consulted and advised on nearly $1 billion in luxury auction property in total. The firm specializes in luxury assets in excess of $1 million. Contact Platinum at 1.800.262.5132, [email protected] or visit PlatinumLuxuryAuctions.com.

SOURCE Platinum Luxury Auctions LLC