Luxury Calgary-area properties to sell through live auction
Two luxury properties in the Calgary area, listed with Sotheby’s International Realty Canada, will be sold through a unique live auction in early May.
Sotheby’s is partnering with Concierge Auctions, a New York-based global luxury real estate auction firm, for a live auction on May 8 at a private location in Calgary.
The auction will be the first luxury real estate auction of its kind in Calgary, and a method of sale that is becoming increasingly popular in luxury real estate markets around the globe. With the luxury sector booming in Calgary, it’s no surprise sellers are starting to adopt this sales and marketing tactic.
The two properties up for auction include an equestrian property in the Spruce Meadows area and a lakefront estate in Bearspaw, both listed exclusively with Mark Evernden of Sotheby’s International Realty Canada in Calgary.
Laura Brady, founder and president of Concierge Auctions, said a live auction is a growing service for clients who own very unique properties.
“Our focus at Concierge Auctions is only on high-end, premier, one-of-a-kind properties,” said Brady. “So if you think about these types of assets there is a smaller group of buyers that’s interested in these properties . . . and there is also a very difficult challenge of pricing these properties for sale. So properties that are unique can’t be compared just to others that are down the street or next door.
“Our process actually places transparency on the transaction by allowing bidders to bid in real time . . . Buyers can feel confident that the price that they’re paying is a fair price on that day because the high bidder only pays one bid above the next highest bidder . . . The seller also gets that confidence in value but the seller as well obtains a sale within their timeline.”
Evernden said Sotheby’s is trying to offer an additional service to the residential real estate market.
“We’re just trying to change the landscape, or I am, to a certain degree of real estate . . . and how it’s operating in the Calgary market. Adding more value to our customers and the consumers through different media services,” he said.
“This is the first to Calgary to be running an auction on a real estate property.”
Blue Valley Farms is a 45-acre equestrian training compound located at 242243 64th St. West, 25 minutes from downtown Calgary and a few minutes from internationally-renowned Spruce Meadows. Property features include a 6,428-square-foot indoor riding arena, a 30,000-square-foot outdoor arena, 25 horse stalls, five large fields with shelters and 12 outdoor paddocks. There’s an eight-car garage and workshop and a four-bedroom bungalow is available for an on-site manager. Originally offered for $4.6 million, Blue Valley Farms will sell to the highest bidder without reserve.
The second property to be auctioned is a lakefront residence in Church Ranches Estates, 20 minutes from downtown Calgary. Located at 70 Timber Ridge Way, the 2.27-acre property features a 9,000-square-foot home with four bedrooms, four full bathrooms, imported finishes, and a 3,000-square-foot solarium with a heated pool, hot tub, tropical gardens, and direct access to the lake. Owners enjoy access to 85 acres of park and nature trails, three large lakes stocked with fish, and sandy beaches for swimming and canoeing. Originally offered for $3.99 million, the highest bidder at or above $2 million will be named the new owner.
“We’ve seen growing demand for high-end Calgary real estate from local and international buyers over the past year, and marketing these properties demands innovative solutions,” said Evernden.
Between now and May 7, Blue Valley Farms will be open for preview daily from 9 a.m. to 12 p.m., and 70 Timber Ridge Way will be open for preview daily from 1 p.m. to 4 p.m. Both properties are also available for private showings by appointment. Call now if you are interested!! 403-283-7113. Click Here for more photos!
By Mario Toneguzzi, Calgary Herald