(Spoiler Alert: My client won the auction)
With paddles in hand and game-faces on, 11 bidders or representatives thereof were ready to raise hands in high hopes of purchasing the luxurious Kohola Point — a 4-bedroom, 3-acre oceanfront estate at Anini Vista on Kauai’s North Shore that was auctioned yesterday by host Concierge Auctions.
The anticipation was thick at the auction venue just before it began
About Real Estate Auctions
As a luxury real estate auction marketing firm, Concierge Auctions’ objective is to obtain fair market value for high-end properties in a 60-day time-frame. We can’t share the amount of the winning bid for another few weeks, but it’s safe to say that it will represent the highest sales price in Anini Vista in the last year. So, perhaps auctions are proving to be a more effective means of moving high-end properties in a manner that is timely and satisfactory to both buyer and seller. Is a tidal shift in the methods of sales upon us?
Bidders mingling before the business side of the day
With most auctions drawing an average of 7 bidders, and each bidder required to place $100,000 in escrow just to earn their paddle, the high turnout for Kohola Point’s auction (11 bidders) reflects the current strength of Kauai real estate. This point is even further affirmed by a recent article in Baron’s designating Kauai the second best locale in the United States for second homes.
With a bedroom view like this, a second home may become a first home
Kauai is #2 for #2.