Concierge Auctions Closes Out its Best Year Yet with 29% Growth, Over $3.4B in Global Bids, Record-Setting Sales and Historic Activity Spanning
Posted by Cristina Montemayor — February 4, 2020
NEW YORK, NY - PRLog - Concierge Auctions closed out its best year yet with continued dominance in the global luxury real estate auction sector, remaining the number one choice to sell the world's most distinguished properties and achieving record prices. The firm exceeded $2.5 billion in historic sales, with an average sale price of $4 million and its digital bidding platform processed nearly $3.4 billion in competitive bids.Continuing its geographic expansion, Concierge Auctions saw a 29% growth, from 143 auctions in 2018 to 185 in 2019—including first-time auctions in Antigua, Barbuda, Costa Rica, Thailand and Portugal—increasing historic activity to 40 U.S. states and 29 countries; built more than 150 homes for families in need through its Key for Key® giving program with Giveback Homes™; and continued to expand its database of high-net-worth real estate buyers, sellers and representatives—the most comprehensive and intelligent in the industry—growing 12% in 2019 to more than 630,000 contacts.In 2019, the firm grew to more than 100 professionals in eight countries (the United States, Canada, Mexico, the UK, Spain, France, Italy and Switzerland)."This past year saw incredible growth and unprecedented interest, due in large part to the time-certain solution we provide to sellers, the top-tier caliber of properties we offer buyers and our strong partnership with the brokerage community," stated CEO Laura Brady."In today's real estate market, there continues to be limited liquidity for luxury," added Chairman Chad Roffers. "Our model is proven, predictable and timely. In 2020, we forecast that inventory levels will rise as markets continue to soften due to political uncertainty, rising interest rates and tax code changes—which is only going to increase the need for our solution."
A Tech-Forward Model
Concierge Auctions' digital bidding app enables 24/7 access to its online marketplace. Buyers and sellers can purchase and sell at any time from anywhere in the world within a 72-hour window.
"2020 is prime for our platform as an on-demand, tech-forward model offering transparency and convenience— ultimately delivering global exposure, control and market price on a set timeline. This year, we will be focused on enhancing our client's experience and continuing to grow our footprint, blending together live, remote and digital bidding into a singular marketplace," added Brady.
In 2019, the firm expanded its portfolio sales, featuring collections of luxury properties targeted to specific buyer profiles, with a primary focus on Hong Kong and greater Asia. Concierge Auctions' most recent Asia auctions generated more than $190 million in sales. Q1 sales are already underway in Arizona, Dubai and Hong Kong.
"Our global portfolio sales offer unprecedented opportunities for sellers to directly reach the most high-net-worth buyers in some of the world's top cities, including access to those in our database," stated Roffers.
Record-breaking transactions in 2019 include:
- Villa Paradiso, Paradise Valley, Arizona
- Listed for $35 million (formerly Arizona's most expensive listing)
- Highest sale price in Paradise Valley in the past decade
- In cooperation with Sandra Wilken of Sandra Wilken Properties
- 2150 S A1A, Vero Beach, Florida
- Sold for $11.48 million (more than $4 million above the average sale price of the top 10 sales in Vero Beach last year*)
- Highest sale price in the area in 20 months
- In cooperation with Cindy O'Dare and Richard Boga of Premier Estate Properties
- Holy Cow Ranch, Sheridan, Wyoming
- Listed for $23.5 million
- Second highest sale ever in Sheridan County
- In cooperation with Bruce Garber, Roger St Clair and Joe Steger of Century 21
- 41 Arvida Parkway, Miami, Florida
- Sold for $25.566 million
- Highest sale in Coral Gables in 2019 and second highest sale in Dade County in 2019
- In cooperation with Marc Hameroff of Engel & Völkers Miami
- 102 Crescent Road NW, Calgary, Canada
- Listed for $10.888 million
- Highest resale price achieved in Calgary since 2015
- In cooperation with Corinne Poffenroth of Sotheby's International Realty Canada
- 43 Rue Mediterra Drive, Lake Las Vegas, Nevada
- Sold for $3.35 million
- Highest sale price in the Lake Las Vegas area since 2016
- In cooperation with Kristen Routh-Silberman of Synergy Sotheby's International Realty
- Villa Sawan, Phuket, Thailand
- Sale pending
- In cooperation with Lyndon Phillips of Prime Real Estate Phuket
"I am very pleased with the Concierge Auctions team's work," stated Robert Sussman, seller of Villa Paradiso, "Their efforts did a great job flushing out not only national prospects but also those in the local market. In the end, the team was able to achieve a great result in a difficult market and the home sold for the highest price ever in Paradise Valley."
Agent Advisory Board
Founded as a tool for the brokerage community, Concierge Auctions maintains alliances with leading brokerages around the world, including Sotheby's International Realty, Engel & Völkers Americas and Canada, Berkshire Hathaway HomeServices of America, Luxury Portfolio International, Who's Who in Luxury Real Estate, Leverage Global Partners and more.
Last year, the firm announced its inaugural Agent Advisory Board, a hand-selected group of esteemed top agents and brokers created to act as a think tank on the state of luxury real estate sales and marketing. The agents and brokers selected for the Advisory Board all have extensive familiarity with the luxury auction process as well as a proven track record of success with Concierge Auctions. Each of these real estate professionals works with high-end clients from around the world who demand results. The board met quarterly throughout the year to share insights and guide, particularly with the firm's relationship to the brokerage community, with a focus on agent-specific education, tools, and technology."Partnering with Concierge Auctions brings a non-traditional way to unlock liquidity from trophy real estate assets with transparency, efficiency and world-class results," said Advisory Board Member Billy Nash of Nash Luxury at Illustrated Properties.The 2019 Concierge Auctions Agent Advisory Board members included:
- Frank Aazami, Russ Lyon Sotheby's International Realty, Phoenix, Arizona
- Matt Beall, Hawaii Life, Kauai, Hawaii
- Paul Benson, Engel & Völkers, Park City, Utah
- John Christie, HG Christie, Bahamas
- Kyle Crews, Allie Beth Allman & Associates, Dallas, Texas
- Marcie Hartley, Hilton & Hyland, Beverly Hills, California
- Seth O'Byrne, Pacific Sotheby's International Realty, San Diego, California
- John McMonigle, McMonigle Group, Newport Beach, California
- Billy Nash, Nash Luxury at Illustrated Properties, The Palm Beaches, Florida
- Kristen Routh-Silberman, Synergy Sotheby's International Realty, Las Vegas, Nevada
Luxury Homes Index
Concierge Auctions released its third-annual Luxury Homes Days On Market Index in 2019, which provides a comprehensive look at the US luxury real estate market and contrasts market to market for the country's hottest properties. Of the 56 markets analyzed, the average sale price for the top 10 homes was $12,219,014 and the total Days On Market was 506 days. Only 38% of these prestigious properties sold in under 180 days. For the 62% that sold over 180 days, Days On Market skyrocketed up to 742 days, and these properties only saw 78% of their original list price, a significant discount off the original value these sellers hoped to realize.The firm is the only company that looks at sales by calculating how long a property stays on market from the moment of its original listing until its sale. The findings from the groundbreaking report were reported in Bloomberg, The New York Times, Inman, Dallas Business Journal and Sun Sentinel. The fourth-annual Luxury Homes Days On Market Index is scheduled to be released in February, and will be expanded to include the Canadian real estate market for the first time.
Accolades and Achievements
Throughout 2019, Concierge Auctions was recognized with a number of professional accolades, including:
- Placement on Inc. Magazine's Fastest-Growing Companies in America list for the sixth consecutive year and "Hall of Fame" member
- Two Telly awards for innovative videography, marking 28 total to date
- "Best Website" award from Who's Who in Luxury Real Estate
- "Most Significant Sale" award from Who's Who in Luxury Real Estate for the record-breaking sale of Playa Vista Isle in Hillsboro, Florida, which broke a U.S. World Record for highest sale price ever achieved for a property at auction
Giving Back: Key For Key®
Alongside achieving these outstanding milestones, Concierge Auctions expanded its philanthropic initiative, Key for Key®, in cooperation with Giveback Homes™. The giving program ensures that a new home is funded for a family in need for every property the firm sells. More than 200 homes have been funded since the inception of the program, resulting in hundreds of lives forever changed.
"One of, if not our proudest accomplishment in the history of the company has been our Key For Key® giving program," stated Brady. "Now woven into our company culture, participation in build trips is a spiritual and emotional touchstone for our team. What began as an innovative way for the largest luxury real estate marketplace in the world to give something back, has grown into a cornerstone of our identity."In 2019, the firm sent over 30 employees to El Salvador to meet families in person and help build new homes. Nearly 70 Concierge Auctions team members have participated in build trips to date."Key For Key® has not only provided a safe home to hundreds of families living in poverty, the program is also creating joy, inspiration, human connection, and fulfillment to everyone who has been a part of making it happen. It's entirely possible for successful companies to balance purpose and profit and Key For Key® is an extraordinary example," said Caroline Pinal, co-founder of Giveback Homes™.For a full list of properties sold in 2019, visit ConciergeAuctions.com. To inquire about purchasing the world's finest homes, or if you have a remarkable property or listing to submit for consideration to the Concierge Auctions platform, call 212.202.2940.
About Concierge Auctions
Concierge Auctions is the largest luxury real estate marketplace in the world, powered by state-of-the-art technology. Since its inception in 2008, the firm has generated billions of dollars in sales, broken world records for the highest-priced homes ever achieved at auction, and is active in 40 U.S. states/territories and 29 countries. Concierge curates the most prestigious properties globally, matches them with qualified buyers, and facilitates transparent, market-driven transactions in an expedited timeframe. The firm owns the most comprehensive and intelligent database of high-net-worth real estate buyers and sellers in the world. As a six-time honoree to the annual Inc Magazine list of America's fastest-growing companies, it now joins the Inc5000 Hall of Fame; was named No. 38 on the 2018 Entrepreneur 360™ List recognizing 360 small businesses every year that are mastering the art of and science of growing a business in the areas of impact, innovation, growth, leadership, and business valuation; and has contributed more than 200 homes to-date as part of its Key for Key® giving program in partnership with Giveback Homes™, which guarantees that for every property the company sells, a new home will be built for a family in need. For more information visit conciergeauctions.com.* According to Concierge Auctions' U.S. Luxury Homes Index