Concierge Auctions Sells Historic Martha's Vineyard Estate at Live Auction in Cooperation with LandVest and Wallace & Co. Sotheby's International Realty

Inner Harbor estate c1924 generates 244 buyer prospects and five bidders

PR Newswire
EDGARTOWN
Dec 6, 2011

EDGARTOWN, Mass., Dec. 6, 2011 /PRNewswire/ -- A historic Martha's Vineyard estate built in 1924, located within walking distance to Edgartown shops and restaurants and with direct frontage on the Inner Harbor, sold at a live auction Saturday, Concierge Auctions has announced. The sale was conducted in cooperation with listing agents Gerret Conover of LandVest, a Christie's International Real Estate affiliate, and Tom Wallace of Wallace & Co. Sotheby's International Realty. Conover also represented the buyer.

"The Concierge process was a great success. After three years on the market, the auction generated strong interest in the property and produced a contract for the 4th highest sales price in Edgartown in the past year, and one of the top sales on Martha's Vineyard during the same timeframe," Conover stated. "The buyer, who just decided to bid last week, understood it was an undeniable opportunity, and the urgency of the auction forced him to act. We're excited to have produced a pleasing outcome for both the sellers and buyer and look forward to working with Concierge again in the future."

Concierge Auctions' aggressive exposure campaign identified 244 buyer prospects and resulted in 5 bidders from CT, MD, NY and MA. The winning buyer was from MA. The auction website generated 7,184 auction visitors from all US states led by MA, NY, TX, CA and CT and 49 international countries led by Canada, the United Kingdom, India, Italy and Germany.

Cared for since 1928 by generations of the same family, 31 S. Water Street is a historic residence offering six bedrooms, five baths and four levels of direct harbor views across an expansive lawn, complete with an in-ground swimming pool. Located in the heart of Edgartown's historic district, mere steps from the Village, the property displays the quintessential Martha's Vineyard historic architecture of wood shingle siding and white trim.

"The selling siblings had inherited the property, and it was time for them to monetize it and move on," stated Laura Brady, Vice President of Marketing for Concierge Auctions. "The fact that four of the five bidders were unaware of the property prior to the auction exposure is evidence that the process worked. We activated the market, drove the highest price possible in only two months and enabled the sellers pursue other opportunities. It was a great outcome, and we look forward to many more sales in the Northeast in 2012."

Concierge Auctions is currently accepting applications from luxury sellers nationwide with premier, storied properties. For more information about Concierge Auctions and its services call 888-966-4759 or visit www.ConciergeAuctions.com.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide through an accelerated marketing process that obtains fair market value for high-end properties in a 60-day timeframe. As a preferred auction partner to Sotheby's International Realty® and other luxury brokerage firms nationwide, the company has executed auctions from New York to Hawaii and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories. The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years. For more information, call 888-966-4759 or visit www.ConciergeAuctions.com.

SOURCE Concierge Auctions


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