"Virginia has been a productive - though not a high-volume - state for our luxury auction® process, and we're pleased to add this home to our roster of successful sales, which we contracted shortly after a sale in Charlottesville in late-2025," stated David Ashcroft, managing director for the Miami-based auction firm, which has offered properties in 15 countries and 33 U.S. states to date.
Platinum had a significant sales year in 2025, with 29 properties offered for luxury auction® in the calendar year and an effective offered-to-closing rate of 80%, thus dominating the luxury real estate auction industry's average closing rate of 45-50%, per the firm's research.
As a matter of practice, Platinum does not disclose its sales prices until the given transaction has closed, though Ashcroft noted the sale price was "approaching $4 million," a notable figure given the owner purchased the property for $1.999 million just several years ago during the heady markets and soaring prices of the pandemic era. The non-contingent sale is scheduled to close in early April, within 30 days of the auction date.
"The buyers of the property are a lovely couple who happen not to be equestrians, but who wanted to make the home their family compound," said Ashcroft. "They quite literally yelled out in excitement upon prevailing as the high bidder."
The property is located in Warrenton, VA, just south of Middleburg, the core of the region known as the "Nation's Horse and Hunt Capital." The equestrian-centric area is home to many horse farms and facilities, and hosts related events such as steeplechase racing and fox hunting.
While the property only received two (2) showings and no offers during the seven (7) months it was listed for sale prior to the commencement of the luxury auction® promotion, Platinum generated 322 buyer inquiries within the 5-week period wherein it marketed the property - a rate of nearly ten (10) unique inquirers per day. "The 322 inquiries set a new corporate record for gross inquiry volume for any property we've offered within at least the past 6 years," noted Trayor Lesnock, Platinum's founder and president.
The luxury auction® offering also included the promotion of a smaller, adjacent property on 10 acres, which was offered for sale "Subject to Seller Confirmation," meaning the seller could accept, counter or reject the highest auction bid. The smaller home was listed for $1.25 million prior to auction. Platinum is currently negotiating the sale of that property with several buyers and expects a sale to be consummated shortly. Photos, video and basic information for the properties can be found online at VirginiaLuxuryAuction.com.
About Platinum Luxury Auctions: Platinum Luxury Auctions created the luxury auction® model for multimillion-dollar real estate auctions and owns the federal trademark rights to the term "luxury auction." The Miami-based auction house specializes in the non-distressed sale of luxury properties throughout the U.S. and select international markets and has offered properties in 33 states and 15 countries to date. Platinum's team has closed more than $1.8 billion in luxury auction® sales and has advised HNW and UHNW individuals on more than $4.9 billion in luxury property assets. PlatinumLuxuryAuctions.com.
SOURCE Platinum Luxury Auctions LLC
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