Auction.com Further Expands into Luxury Market with Successful Auctions of 3 Non-Distressed Listings

Torrance, CA – September 12, 2012 – (RealEstateRama) — Auction.com, the nation’s leading online real estate marketplace, and its Luxury Home Division (www.auction.com/luxury) reaffirmed its strength in the luxury residential market with the recent successful auctions of three non-distressed luxury properties in Newport Coast, Newport Beach and Santa Ynez.

The properties – located at 15 Sea View Lane, Newport Coast; 91 Linda Isle, Newport Beach; and 3351 Calle Bonita, Santa Ynez – firmly establish the Auction.com Luxury Home Division as a logical first-step for sellers and agents of new luxury listings and non-distressed residential assets.

“The efficiency and effectiveness of the Internet have transformed much of what consumers do. With our industry leading online marketplace, we bring those transformational benefits to real estate for sellers, buyers and their agents,” said Auction.com co-CEO and founding principal Jeff Frieden.

Auction.com’s multi-million dollar annual marketing budget and online marketplace, which complement the work of agents, are credited with delivering a high level of exposure and, ultimately, winning bids for all three homes.

“The process was very collaborative and together we generated an amazing amount of interest in both homes,” said Teles Properties’ Andrew Karigan, the listing agent for the Newport Coast and Newport Beach homes. “I was most impressed by the strategic, highly-targeted marketing campaign that attracted a frenzy of prospective buyers to my open houses. Since the leads came to me, I could control the message to all interested bidders and help ensure the best possible price for the sellers. With at least eight approved bidders vying for both homes, I ended up with three very happy clients – both sellers and one of the buyers.”

The same style of marketing campaign is producing heavy traffic for the next five luxury properties to be auctioned in Orange and San Diego counties in September. So far, 372 groups and 1,000 people have attended the first day of open houses at the five homes.
“Selling a luxury home through Auction.com is like selling a piece of artwork. The true value of that artwork is only revealed when it is exposed to a universe of the ‘right’ buyers in a competitive environment,” Frieden added.

Auction.com will auction three luxury homes on Sept. 17-19:

• 2620 Riviera Dr., Laguna Beach: Unique among other properties in Irvine Cove, the Mediterranean-style estate is located in a small enclave of homes known as Abalone Point. The exceptional location affords privacy, breathtaking views of the ocean and breaking surf below, and is conveniently located near the incredibly scenic private beach. The community’s meandering beach path down to the sand also accommodates golf carts. The 8,608-square-foot home has five bedrooms and eight bathrooms and offers ocean views from every level. The home, which was previously listed for $23 million, has a starting bid of $7.5 million.

• 11331 Skyline, North Tustin: Among the most recognized properties in the hills of North Tustin, this grand gated estate boasts breathtaking views of Catalina Island from the front yard, porch and nearly every room. The main house is just under 10,000 square feet with six bedrooms, nine bathrooms, five fireplaces, a gourmet kitchen, a lower level basement with exercise room and sauna, and a guest house. The home, which was previously listed at $5.3 million, has a starting bid is $1.7 million.

• 9902 Rangeview Dr., North Tustin: Nestled in Cowan Heights, this stunning 8,835-square-foot home offers the utmost in privacy with breathtaking views. A winding private drive leads to the newly renovated residence boasting five bedrooms, five bathrooms and unsurpassed details throughout. The home’s design features include natural stone and wood floors, voluminous wood-beamed ceilings, art niches, veranda patios, gourmet kitchen and grand entertaining areas. The exterior grounds offer sprawling acreage for expansion a pool and several charming outdoor living spaces. The home, which was previously listed at $2.49 million, has a starting bid of $1 million.

Two more homes will be auctioned on Sept. 18-20:
• 30001 Via Maria Elena, Bonsall: Located high on a hillside in the luxury neighborhood of Hialeah Estates, the 4,461-square-foot home overlooks the rolling hills and thoroughbred training farms of Bonsall. The sprawling single story home offers an open and flowing floor plan with four bedrooms, 3.5 bathrooms and panoramic views on 4.93 acres. The home, which was previously listed at $1,569,000, has a starting bid of $600,000.

• 9932 Highcliff Cr., North Tustin: This modernist 4,800-square-foot custom estate is nestled within a 3/4-acre hillside of exclusive Cowan Heights. Inspired by the relationship between the Pacific Ocean, the amenities of Newport Beach and the lush landscape of North Tustin, the architecture was designed to highlight both nature and culture. The four-bedroom, five-bathroom home features ultra clean lines and oversized windows that flood the home with natural light. The doors are designed to disappear completely into the walls opening the entire backside of the home to the lush outdoor setting. The home, which was previously listed at $3.3 million, has a starting bid of $800,000.

All bidders must register and qualify with a $10,000 deposit at http://www.auction.com/luxury. Agents who work with Auction.com keep their listings and full commissions. Auction.com earns a 5 percent buyer’s premium, which is paid by the buyer at the time of closing.