Platinum Luxury Auctions Sets Record Price at March Auction

Sale Price is One of Highest Residential Sales Ever Recorded in Coastal Florida City

VOLUSIA COUNTY, Fla., May 3, 2012 /PRNewswire/ -- On March 24, 2012 an exotic intracoastal estate in Edgewater, Florida was sold at luxury auction after nearly 5 years on the market. The sale price of approximately $1.5 million was the highest residential sale achieved in the city within the past 2 years and the 2nd highest price within at least the past 4 years, according to county records. Platinum Luxury Auctions LLC, a prestigious auction firm headquartered in Miami, Florida that specializes in luxury properties, handled the sale.

Platinum's luxury auction-marketing program attracted bidder interest from all over the world. According to the firm's report, the property's dedicated auction webpage received more than 3,450 unique visitors from 76 countries and territories during its 5-week marketing period. Most importantly, 72 buyers visited the property during that time.

"While we always market globally, our research dictated that we place a heavy focus on the wealthier areas of Orlando, Daytona and New Smyrna Beach for this transaction. While interest from those areas was excellent - the buyer came from New Smyrna - we were very impressed with the international buyer response as well," said Trayor Lesnock, Platinum's president.

According to Kevin Vaughan, one of Platinum's executives who directly managed the transaction, the sale was a classic auction success story. "This is an excellent case study in the effectiveness of Platinum's auction process: A luxury property that has been languishing on the market for nearly 5 years receives 'new life' from the auction process. Global interest and tremendous buyer traffic result in a record sales price within only 5 weeks. We even had two offers prior to the auction."

Platinum conducted the sale in cooperation with prestigious Palm Beach firm Fite Shavell and Associates. Linda Bright, a top-producer with the firm, was the listing agent.

The home's Frank Lloyd Wright inspired design offers nearly 10,000 sq. ft. of interior living area. The main house has 3 bedrooms and 4.5 baths, while a separate guesthouse - currently designed as a billiards room - offers 1 bed and 1 bath, a loft and wet bar.

Edgewater, Florida is a small, charming city known mostly for its excellent fishing and relaxed lifestyle. It's located just south of Daytona Beach and New Smyrna Beach, and is just a one hour drive from Orlando.

For more details on this luxury auction, please visit www.PointLotEstateAuction.com or call 1.800.262.5132.

About Platinum Luxury Auctions LLC: Platinum is the only auction company founded exclusively on luxury, non-distressed real estate auction experience. The firm's principals have closed more than $255 million in luxury real estate auction sales, and have consulted and advised on nearly $1 billion in luxury auction property in total. The firm specializes in luxury assets in excess of $1 million. Contact Platinum at 1.800.262.5132, inquire@platinumluxuryauctions.com or visit www.PlatinumLuxuryAuctions.com.

SOURCE Platinum Luxury Auctions LLC

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