SAN DIEGO, Oct. 14, 2015 /PRNewswire/ -- Platinum Luxury Auctions and Pacific Sotheby's International Realty have announced their second consecutive sale together. On Saturday, October 10, 2015, the firms sold a large luxury home within the community of Fairbanks Ranch in Rancho Santa Fe, California. Saturday's auction follows a record-breaking sale generated by Platinum and Pacific Sotheby's in nearby Escondido the preceding week. There, they sold a mountaintop mansion for $5.5 million immediately before it was scheduled to sell at auction, in the process doubling the highest price achieved for a residential sale in all of Escondido during the past ten years.
Platinum, a leading auction house for the sale of non-distressed, multimillion-dollar properties nationwide, worked again with listing agent K. Ann Brizolis for the Fairbanks Ranch sale. Brizolis is a top-producing agent working out of the Rancho Santa Fe office of Pacific Sotheby's.
While Saturday's sale price has not yet been released, Platinum has stated that the price was well in excess of the auction's $4 million reserve bid amount. "The price achieved is fairly consistent with the recent pricing trends within the community for very large homes, especially on a price-per-square-foot basis," noted Brad Pruitt, Platinum's director of business development, and a co-manager of the transaction. Pruitt stated that the purchaser of the property is one of the former executives of a major technology and communications company, who intends to move into the property with his wife and children for use as their primary residence.
The home was promoted as offering a lifestyle experience similar to that of a luxury resort, with a sprawling, multi-structure residential compound situated on nearly five private acres. The grounds offer an abundance of plants and tress native to California, including a 200-specimen rose garden, more than thirty organic fruit trees, 70 California Coastal live oaks, and 20 sycamore trees.
With a main residence of more than 11,000 square feet, in addition to three outbuildings that bring the total square footage to just over 15,000, the estate is ideal for very large families or for those who enjoy entertaining on a grand scale. The centerpiece of the compound is a large, custom pool with water features, a water slide, and an adjacent spa tub surrounded by handsome stone pillars.
The main residence offers seven en-suite bedrooms, including a master suite with a private elevator and spa-like bathroom featuring Italian glass tiles, an infrared sauna, steam shower, soaking tub, heated floors and two custom closets. There is also a gourmet kitchen, theater, formal dining and a lounge with a wet bar and wine storage. Additional features include garage parking for six vehicles (including a limousine bay), full tennis court, a relaxation pavilion, and a private walking trail.
Trayor Lesnock, Platinum's president and founder, noted that the sellers elected the luxury auction process in order to simplify their real estate portfolio. They already downsized to another home within Fairbanks Ranch, and had tired of the upkeep that an empty, 15,000-square foot mansion demands. "The sellers are really wonderful members of the community, and it was our pleasure to work with Pacific Sotheby's and serve as ambassadors of their beautiful property," Lesnock stated.
Platinum now heads towards its third consecutive auction in San Diego County during the month of October, with a contemporary residence in Rancho Santa Fe's Rancho Farms Estates community scheduled for sale on October 17th. For information on that upcoming auction, or for additional details on the recent sale in Fairbanks Ranch, interested parties may contact Platinum at 1.800.262.5132, or visit 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 within and beyond the United States. The Platinum team has closed more than $400 million in luxury real estate auction sales, and has consulted on more than $1.4 billion in additional luxury properties worldwide. Platinum is responsible for developing the luxury auction(SM) model for the sale of luxury real estate at auction.
SOURCE Platinum Luxury Auctions LLC