Platinum Luxury Auctions' North Carolina Sale Produces Area's 2nd Highest Price in 3 Years

Firm Pre-Sells Valle Crucis Mountainside Estate in Advance of July Auction Date

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Jul 19, 2013, 12:14 ET

BOONE, N.C., July 19, 2013 /PRNewswire/ -- A 13-acre, luxury mountain estate located in Valle Crucis, North Carolina that was scheduled for a July 27^th auction has been sold in advance of the auction date, reported Platinum Luxury Auctions, the auction house managing the sale. Platinum, a distinguished luxury auction firm headquartered in Miami, Florida, was able to sell the property prior to the auction to a buyer from its own database. The sale price of approximately $2 million represents the 2^nd highest price achieved in the entire Valle Crucis area within the past 3 years, and the highest price to date in 2013. Mountain Sotheby's International Realty in Banner Elk was the cooperating North Carolina real estate brokerage in the transaction.

"Once the sale was confirmed we requested the historical sales records for Valle Crucis, and other than one sale in 2012 for an enormous luxury residence situated on 150 acres, this is the highest sale within the most recent 3-year period," noted Kevin Vaughan and Aaron Carmody, Platinum's project managers for the sale. Messrs. Vaughan and Carmody added that the sale may have been the 2^nd highest price in more than 3 years, but accurate records beyond that time were not readily available.

Prior to the planned July 2013 auction, Platinum had previously attempted to auction the property in November 2012, but that sale was rescheduled due to the untimely arrival of "Superstorm" Sandy. Platinum and the sellers agreed it would be best to reschedule the auction sale for the following summer if the property had not been sold in the interim.

"Developing a strategic re-offering plan in this type of auction situation - especially when there is nearly one year in between auction dates - is something that is rarely done within this industry. It's a true testament to Platinum's persistence and its dedication to its clients," said Trayor Lesnock, Platinum's president and founder.

The sellers of the property, a husband and wife who were selling in order to downsize, were excited to have been able to achieve a sale after a number of years spent trying unsuccessfully to sell the property traditionally. "Platinum did a fantastic job from A to Z. Luxury property sellers in these types of remote markets have so few options when deciding how to sell their unique properties, but we relied on Platinum's lengthy track record of achieving sales in these types of situations and they delivered," stated Philip Cohen, who owned the estate with his wife Genie.

The property was one of two Valle Crucis auctions Platinum had planned for the last weekend in July. The remaining property is still scheduled for luxury auction on the evening of July 26^th. Details of both the pre-auction sale and the upcoming luxury auction can be found by visiting CarolinaLuxuryAuctions.com, or by contacting a Platinum representative at 1.800.262.5132.

SOURCE Platinum Luxury Auctions