In what will likely be the most expensive single-family property ever sold in this area, a private equestrian estate — Cherry Creek Estate Ranch — is being offered through an exclusive online auction service with an opening bid of "only" $1 million. The property has previously been listed for $7.5 million.
The five bedroom, six and a half bath home on 320 acres is being auctioned through Interluxe, a company innovating the luxury real estate auction segment.
“Online auction, which takes advantage of today’s extraordinary technology, is already a successful platform for rare artwork, luxury cars, and fine jewelry, and provides luxury homeowners with the unique opportunity to cost-effectively reach a global audience,” said Interluxe President Scott Kirk.
“Homes that have global appeal benefit from the expanded marketplace an Interluxe online auction provides.”
Auctions are often a better means of finding buyers for high-end real estate, Kirk explained.
“Unlike traditional listings where local traffic is the driving factor, online auctions attract a select pool of qualified and highly interested bidders nationwide and beyond, and are gaining favour with sellers of luxury properties who are looking for ways to distinguish their property to a global audience. Home sellers choose from multiple tiers of advertising and marketing services to ensure their property stands out to as many qualified buyers as possible.”
Registration to bid is through www.interluxe.com. The final price is set by market demand, and opening bids usually are offered at a tremendous value.
The auction for Cherry Creek Estate Ranch opens next Saturday, July 27.
So what will you get for your $1 million-plus bid?
“Cherry Creek Estate Ranch includes an impressive three-level main residence with a master suite that boasts 270-degree views of the Rocky and Purcell Mountains, a gourmet kitchen with custom Bulthaup cabinets and Gaggenau appliances, as well as an indoor pool and sauna, reception hall, private office, home gym and billiard room.
“The two-level main horse barn features 10 large horse stalls, a farrier room, horse shower bay, three technical rooms, and radiant heating. Another highlight of the estate is the large post-and-beam design collector’s barn that was hand-built by Bavarian master timber framers. This building also provides a guest or caretaker’s full apartment. Additional improvements include a manager’s home, calving barn, and an outdoor riding arena.”
Not only does the auction process create an air of excitement, but Interluxe is providing a global audience through their intensive marketing and extensive database, says Matt Cameron of LandQuest Realty Corp., who is working through Interluxe in partnership with Irv Ridd of Cascadia Pacific Realty Ltd.