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Luxury Real Estate Auctioned At Sotheby’s London For First Time | Black Kite Express

On May 30, for the first time in its 280-year history, Sotheby’s London auction house hosted an auction showcasing luxury real estate. The main item in the auction was a Hudson Valley castle.

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For the first time in its 280-year history, Sotheby’s London auction house hosted an auction featuring luxury real estate on May 30, Sotheby’s Concierge Auctions announced.

The inaugural “Exceptional Global Estates” sale was also streamed live on conciergeauctions.com and sothebys.com, and 83 percent of lots were sold, with more than $160 million in total bids placed.

Nearly 200 attendees attended the event where 30 potential luxury property buyers from North America, Europe and Asia submitted offers individually and through teams of specialists who attended in person and online.

Frank Trunzo, Senior Auctioneer at Sotheby’s Concierge Auctions, and Michael Macaulay, Vice President of Contemporary Art and Leading Auctioneer at Sotheby’s London, led the auction.

The auction was part of Sotheby’s “The Luxury Sales” series, which will be held in Hong Kong, London, Paris and New York until the end of the year, and also included works of art, jewelry, watches, designer bags and further.

“Tonight, we are honored to make history once again and celebrate another monumental achievement with Sotheby’s in London, as the first time luxury real estate decks have been placed on the auction stage of the renowned auction house in its 280 years of history in Europe,” said Krystal. Aeby, president of Sotheby’s Concierge Auctions, said in a statement.

“Our global sales continue to be our most sought-after events,” Aeby continued. “Following our groundbreaking sale in Hong Kong, our inaugural sale in London is a testament to the strength of our platform, reach, dedication to excellence and our commitment to breaking barriers as a leader in our industry.”

The featured auction item of the evening was Castle Migdale, an estate located just outside the Hudson Valley town of Millbrook. The 1927-built property was built for Andrew Carnegie’s daughter and sits on nearly 200 acres of land. Designed in a European style, the renovated estate spans 34,000 square feet, has 29 rooms and features views of the Catskills.

Migdale Castle sold for $8.96 million in cooperation with co-listing agent Heather Croner of Heather Croner Real Estate Sotheby’s International Realty.

Migdale Castle | Janitorial Auctions

Other custom properties were also sold at the May 30 auction, including the following:

Camelot Ridge Resort, Avilla, Indiana

The 170-acre property filled with hardwood trees, hills, miles of trails and a lake is home to a “majestic lodge” spanning approximately 9,200 square feet. The property saw a 121 percent increase over average initial offer prices achieved, for a final sale price of $2.576 million, in cooperation with Sandy Ginn of Encore Sotheby’s International Realty.

6350 North Lake Boulevard, Tahoe Vista, California

Twelve bidders competed for this Lake Tahoe property, newly built in a modern steel and glass style. The 2,600-square-foot home ultimately sold for $6.272 million, in cooperation with Trudi Lee and Camille Duvall of Sierra Sotheby’s International Realty.

21 Teresa Lane, Tybee Island, Georgia

This newly remodeled 5,200 square foot home sits on over two acres of secluded beach on Tybee Island with ocean and marsh views. Nine bidders competed for the property with an increase of more than 93 percent over average initial bid prices achieved, for an asking price of $3.92 million, in cooperation with Kelli Weis of Daniel Ravenel Sotheby’s International Realty.

The “Significant Global Properties” collection is online and offers will close between June 17 and 21, 2024. Other notable properties include a cliffside villa in Mykonos, Greece; a historic property in Asti, Italy; and an oceanfront property in Malibu, California.

Portions of the proceeds from home closings will also help fund the construction of new homes for families in need through Sotheby’s Concierge Auctions’ Key for Key giving program, in partnership with Giveback Homes.

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Email Lillian Dickerson

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