Platinum Luxury Auctions Bucks Trend in Vero Beach, Succeeds With April Sale

MIAMI, June 3, 2013 /PRNewswire/ -- Platinum Luxury Auctions has reported that the Vero Beach waterfront estate it offered for sale in April of this year has been sold, and has successfully closed as of June 3^rd. The auction process produced a sale price of $5.2 million, which according to county property records was only the 3^rd sale above $5 million in the entire Vero Beach marketplace within the past 12 months, despite a considerable inventory of properties listed for sale above the $5 million mark. The firm had previously reported that its April 27^th auction event generated multiple offers, which were in various stages of negotiation. Platinum, a firm specializing in the sale of multi-million dollar properties, exclusively represented the seller of the property in the dual role of real estate brokerage and auction house.

Although the property itself was quite impressive, offering more than 1.5 waterfront acres within the ultra-exclusive community of John's Island, it was Vero's sales environment that proved somewhat challenging, according to David Enriquez, a Platinum executive who managed the sale.

"Vero Beach is a very particular real estate marketplace," noted Mr. Enriquez. "There is certainly an Old Guard there that prefers things to be done a certain way, which can present challenges when a non-traditional process like a luxury auction comes to town. Thankfully, we had a wonderful seller who entrusted us to do our job, and I believe the results speak for themselves."

When it comes to real estate auctions, Vero Beach's track record seems to support Mr. Enriquez's comments, as it is not often that such sales are conducted for non-distressed, luxury properties in the exclusive beach town. Vero's popular 32963 Magazine reported that Platinum's April auction was the first sale of its kind within the past 15 years to be held within the prestigious John's Island community. Further, most high-end home auctions within the Vero marketplace are unsuccessful. This was the case for the last widely publicized auction for a Vero oceanfront mansion in early 2012, which produced much fanfare but no sale.

"I'm very proud of our team for creating a high-value sale in what is known as a very, very challenging luxury auction market, said Trayor Lesnock, Platinum's president and founder. "We knew the difficulties of conducting a sale in such an exclusive, restricted-access community within Vero, so we crafted our marketing program and our strategy accordingly."

Lesnock added that Platinum was able to produce nearly 50 on-site property visits, which is exceptional given the highly restricted access to John's Island. Visitors included prospective purchasers from the coastal southeast, upper northeast and even abroad, he said. The ultimate purchaser, an executive in the healthcare industry, is based out of the Boston area. He purchased the property all-cash and intends to use the estate primarily as a vacation residence.

The buyer was represented by Steve Hart of Golden Bear Realty out of Jupiter, Florida. "I enjoyed working with David and the Platinum team to make the sale happen," stated Mr. Hart. "The marketing and the presentation of the property was world class, and it did a great job of appealing to this particular purchaser. He was looking at quite a few vacation home options, including many oceanfront properties, but the auction caught his attention." Hart noted that his client saw one of Platinum's auction ads in the Wall Street Journal and then gave him a call to schedule a viewing appointment.

Additional details on the sale can be found at VeroBeachLuxuryAuction.com, or by contacting Platinum's senior project manager David Enriquez at 1.800.262.5132. Platinum is currently engaged in various other luxury auctions throughout the United States, including properties in California, Georgia and North Carolina. Interested parties may visit PlatinumLuxuryAuctions.com for details.

SOURCE Platinum Luxury Auctions LLC