Bidding will soon begin on a unique Bearspaw property during Calgary’s first live luxury real estate auction.
The property, located in Church Ranches Estates, will be one of two high-end listings up for bidding May 8, a joint venture between Concierge Auctions and Sotheby’s International Realty Canada.
Although they offer their white-glove approach to property purchasing worldwide, this is Concierge Auctions first time in Alberta.
“Auction is the smartest choice for unique properties,” said Laura Brady, president and founder of the auction house. “It can be difficult to identify value on properties like these. They aren’t necessarily worth what an appraiser thinks they are worth — they are worth what someone is willing to pay.”
The lakefront estate in Bearspaw features nearly 6,500 square feet of living space, four bedrooms, pool and hot tub, and sits on more than two acres. The property was originally listed for $3.99 million, but will sell to the highest bidder at or above the $2 million reserve.
The Rocky View County property will be joined on the auction block by an equestrian property located in the M.D. of Foothills. Sitting on 45 acres, and located just a few minutes away from Spruce Meadows, the facility was originally listed for $4.6 million. The equine haven is selling without a reserve.
“Our process is a great option for sellers because they can sell within their timeline,” said Brady. “In addition, there is transparency around the value of their property.”
Both luxury properties are under the watchful eye of listing realtor Mark Evernden of Sotheby’s International Realty Canada. He was unable to provide a comment to the Eagle by press time.
Serious buyers can preview the properties everyday until May 7, and all due diligence must be completed by the day of the auction.
Brady said buyers appreciate the ease associated with the auction process, along with confidence they are paying fair market value.
The auction will run May 8 in Calgary. Interested people must provide a deposit of $100,000 to be considered and be pre-approved for bidding.
More information can be found at calgaryluxuryauction.com.
