Platinum Luxury Auctions Negotiating Multiple Offers Following Vero Beach Auction

VERO BEACH, Fla., April 28, 2013 /PRNewswire/ -- Although the planned April 27^th auction of a large, waterfront estate in Vero Beach, Florida has not yet produced a new owner, there are several purchase contracts being negotiated for the property, according to Platinum Luxury Auctions, the firm handling the transaction. The property is located within the prestigious community of John's Island, Vero's premier golf and private club community.

"Historically, a small fraction of our sales do in fact occur after the auction date," stated Trayor Lesnock, Platinum's president. Lesnock said there are currently two written offers being negotiated for the sale, each offer exceeding the $4.25 million reserve price that was established for the auction. Interestingly, one of these prospective purchasers had also put forth an offer prior to the auction.

That offer "well exceeded" the auction's reserve, according to Platinum's project manager David Enriquez, but the seller and Platinum elected to tell the buyer to come to the auction, rather than engage in negotiations. "This is a common strategy in the case of a pre-auction offer like this one, especially when it's received within only 24 hours of the auction," said Enriquez. "The seller simply wanted to see what the auction would bear, rather than risk jeopardizing the process in advance."

Enriquez also noted that he has fielded several showing requests from both new and repeat inquirers immediately following the auction. "We have at least one new showing already scheduled for Sunday. It's the post-auction buzz," he noted.

Platinum marketed the property for approximately five weeks prior to the auction date, and during that time showed the residence to nearly fifty interested parties. This is a significant number given the exclusivity of the community and the rigors of complying with its security procedures for visitors. The interested parties hailed from as far as England to as nearby as within the gates of John's Island, noted the firm.

"Sometimes when all of your buyers are very, very good poker players, you end up with a multiple offer scenario rather than a live auction," noted Lesnock. He added that one of the current offers is from a Boston-area businessman, while the other came from a Miami couple who has been on the firm's list of prospects for quite some time. "I'm confident the property will find a new buyer very soon. It's a beautiful home."

For inquiries, contact Platinum Luxury Auctions at 1.800.262.5132, or visit PlatinumLuxuryAuctions.com.

SOURCE Platinum Luxury Auctions