SKY Sotheby's Luxury Property Auction
Luxury broker SKY Sotheby's International Realty will be conducting another multi-property auction April 11, 2008. The auction will focus on luxury properties in Sarasota and Manatee counties.
I am a buyer and want to attend the auction
I am a seller and want more information about putting my property in the auction
Mission
To offer our clients an accelerated marketing process that will obtain fair market value for their properties, within a determined time frame and on a non-contingent basis.
To implement a comprehensive, global advertising campaign to expand the buyer base by engaging not only the local market but also national and international luxury buyers.
Seller Benefits
- Sellers are in more control of when the property is sold and the terms of the sales agreement
- Buyers are required to compete within a tight timeframe
- Exclusivity - Your property highlighted in the market, versus the traditional method of competing against the 14,000+ current listings in Sarasota and Manatee counties
- No drawn-out negotiations
- Non-refundable buyer deposit
- Closing within 30 days of contract
Why SKY Sotheby's International Realty?
- Global Reach - With an affiliate network in over 20 countries and with over 300 offices, SKY Sotheby's has the ability to reach buyers in key luxury markets worldwide.
- Luxury Market Dominance - SKY Sotheby's is the premier luxury real estate firm in Sarasota, Florida, owning 20% of the market share over $1,000,000 and maintaining the highest average transaction amount of any other major firm.
- Superior Marketing - The Spring 2008 auction will receive exposure through local, nationwide and global publications, targeted direct mail campaigns and 11 key websites. The advertising budget solely for this event is in excess of $1,000,000.
- Knowledgeable Agents - All agents involved with auction coordination are experienced in the marketplace and are abreast of not only local but also national real estate trends.
- Organized Procedures - Your property will move seamlessly through the preliminary activities of stagin, photography, diligence and will continue through organized showing procedures with consistent methodology and ongoing communications.
- First Class Execution - The Spring 2008 auction will exude the very definition of luxury. The event will feature video displays, beverages and hors d'oeuvres, VIP treatment and charity donations.
Spring 2007 SKY Sotheby's Auction Results
Hosted at the Sarasota Ritz-Carlton Hotel, the Spring 2007 SKY Sotheby's Luxury Portfolio Auction attracted over 300 attendees. In an outdoor tent, with the bay and pool in the bachground, the atmosphere was not only first-class but also exciting and competitive.
The results of the May 18th auction were astounding, with nearly $30,000,000 of properties sold: $9,000,000 sold pre-auction, $11,000,000 on auction day and over $8,000,000 post-auction. Below are a few highlights:
8060 Cow Camp Lane
Previously listed for 343 days
Pre-auction list price = $8,950,000
Sale price at auction = $6,900,000
433 Meadow Lark Drive
Previously listed for 385 days
Pre-auction list price = $5,900,000
Sale price pre-auction = $5,850,000
807 Tropical Circle
Previously listed for 540 days
Pre-auction list price = $3,479,000
Under contract 3 months post-auction
Villa Di Lancia Condominium
Previously listed for 1,735 days
Pre-auction list price = $3,500,000
Sale price pre-auction = $2,702,500
Seller Options
Absolute
An absolute sale is one where the property is sold to the highest qualified bidder with no limiting conditions or amount. Also known as an auction without reserve. Statistics show that absolute sales command more attention from buyers, secure more opening bids, and consequently achieve higher prices.
Reserve
A reserve is a minimum price for which a property will sell on auction day. If the auction bidding does not reach this minimum, the seller is not obligated to sell. SKY Sotheby's is very selective in regards to which properties are accepted on a reserve basis.
Listing your property in the auction
Preliminary activities
- Staging - Interior design consultant visits your property and completes exterior and room-by-room analysis to ensure it is presented in the most favorable light.
- Photography - Professional photograpy with focus n wide-angle exterior and room shots as well as detailed, lifestyle photos. A gallery slide show will be assembled for ease of online viewing.
- Video Tour - An extensive movie tour will be created, complete with audio and interactive features.
- PIP Preperation - A detailed property information packet is prepared. It is comprised of recent surveys, inspections, appraisals, homeowner's documents and any other material pertinent to the property sale.
Targeted Advertising to Market Your Property
- Broadcast Email - Sent to all agents in Sarasota county and Sotheby's International Realty offices in the U.S. and around the world.
- Property Brochures - 2 sided, 8.5 x 11, laminated color brochures with multiple photos and detailed description will be displayed at the property.
- Website Advertising - Your property will appear on the following websites. NewYorkTimes.com, Realtor.com, RealEstateJournal.com, SkySothebys.com, HeraldTribune.com, SothebysRealty.com, Trulia.com, InternationalHeraldTribune.com, Boston.com, PressDemocrat.com and TheSarasotaMLS.com
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The Observer Group - A full page color advertisement is displayed on a weekly basis showcasing out office's featured properties.
Targeted Advertising to Attract Qualified Buyers
The Spring 2008 auction will benefit from an unprecedented, wide spread marketing campaign. With over $1,000,000 budgeted towards attracting qualified buyers around the world, the advertising will be dramatic and precisely targeted.
- The Sarasota Herald Tribune
- The Wall Street Journal
- The Observer Group
- Overtime Magazine
- The Robb Report
- Fortune Magazine
- Forbes
- Northwest Arlines World Traveler
- Delta Sky Magazine
- Continental Magazine