BASALT, Colo., Nov. 7, 2014 /PRNewswire/ -- Platinum Luxury Auctions, a veteran firm specializing in the auction sale of multimillion-dollar properties, is pleased to announce the sale of a private ranch estate situated on 30 acres in Basalt, Colorado. While details on the final sale price will not be released until closing, Platinum has reported that all of the terms of sale have been met and the final price is significantly in excess of the auction's $1 million reserve. The property was sold in cooperation with listing brokerage Alpine Real Estate, Inc., represented by listing broker Erik Cavarra.
During a five-week marketing period, the property received 53,316 visits to its listing page, with more than 4,300 views of its online auction brochure. Before the property could make it to the November 1st auction event, however, a series of pre-auction negotiations began when one bidder put forth an advanced offer on October 31st. While those negotiations continued for several days, in lieu of an auction, they were ultimately not successful. It was not until a real estate investor from Texas - a third party who was registered to bid on the property but who did not formally engage in the pre-auction negotiations - subsequently stepped in with an offer that the seller accepted.
"What is interesting is that with the addition of this sale, our three most recent transactions have perfectly demonstrated the three phases of the luxury auction sales process: sales prior to auction day, sales on auction day, and sales after auction day," stated Trayor Lesnock, Platinum's president and founder. "It often can be tricky balancing those three avenues, but the tremendous depth of experience of our team enabled us to provide excellent counsel to the seller throughout the negotiations."
The 5 bedroom, 3.5-bath ranch home was designed by talented Aspen architect Charles Cunniffe, and offers more than 4,500 interior square feet on two living levels. The residence features a warm yet rustic appeal, with vaulted, exposed beam ceilings, ample natural light, and rich hardwood accents. It is located within the Red Rock Ranch subdivision, a ranch and estate community nestled between the majestic Sopris and Basalt mountains.
Situated just 25 minutes from Aspen, at the junction of the Fryingpan and Roaring Fork Rivers, Basalt, Colorado is known as the "Heart of the Roaring Fork Valley." The town offers a unique mix of recreational opportunities, historic interests and scenic beauty, and has managed to preserve its small town charm while growing into a very vibrant and contemporary community. Outdoor enthusiasts enjoy its thousands of acres of mountain wilderness and vast valleys, and its access to spectacular hiking, fly-fishing, golfing and world-class skiing adventures.
For more information about Platinum's other, upcoming luxury auctions in 2014, including a $13 million oceanfront penthouse and a $35 million Caribbean compound, visit www.platinumluxuryauctions.com.
About Platinum Luxury Auctions
Platinum Luxury Auctions is a market-leading auction firm specializing in the non-distressed sale of multimillion-dollar properties nationwide. The firm's principals have closed more than $370 million in luxury real estate auction sales, and have consulted on more than $1.35 billion in additional luxury properties. Platinum is also responsible for developing the "luxury auctionSM" concept, which serves as the foundation (quite literally) of its founding name and identity.
SOURCE Platinum Luxury Auctions