Concierge Auctions secures highest property price since $15M sale in 2008 in Rancho Santa Fe, California

COVENANT OF RANCHO SANTA FE, Calif., Aug. 19, 2014 /PRNewswire/ -- Concierge Auctions, a luxury real estate auction firm serving high-net-worth individuals worldwide, today announced the successful auction of El Milagro, the storied home of sports betting icon Bill Walters. Following a spirited auction with 8 bidders, El Milagro has gone under contract for what, when closed, will be the highest recorded price in the exclusive Covenant of Rancho Santa Fe since a $15M sale in October, 2008. The property went under contract in cooperation with Laura Barry of Barry Estates.

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The seller, Bill Walters, is a successful entrepreneur and renowned gambler who is credited with introducing statistical analysis to the world of betting. "I've always been pretty good at staying on the cutting edge of trends," stated Walters. "Non-distressed sellers will increasingly choose to sell their trophy properties through auction, as it's simply the best way to take control. If the market is trending up, then strong bidder interest drives the highest price. If it's down, the auction creates momentum and urgency. And, best of all, the seller has a defined date of sale."

Unique attributes of El Milagro include:           

• An expansive property, spread across 9 rare unobstructed acres within the exclusive Covenant of Rancho Santa Fe
• An ideal location, situated within the top school district in the San Diego area, just four miles to Pacific Ocean beaches, and thirty minutes to downtown San Diego
• Dave Pelz-designed pro putting and chipping greens
• A 45,000-gallon all tile 80' resort-style pool and spa
• An ideal climate, with temperate year-round temperatures

Concierge Auctions' marketing efforts resulted in:

• Over 15 earned media opportunities
• Over 10,000 website visitors from 48 US states (led by California, Texas, Florida and New York) and 100 international countries (led by Canada, Australia, the UK and Mexico)
• 198 open house visitors
• 122 showings
• 8 bidders

Listing agent Laura Barry stated: "The Concierge process is great for one-of-a-kind properties because there are no negotiations — the 'counter' situation is removed from the equation — and value is identified real-time."

"Though Rancho Santa Fe is comparable to the nation's most notable communities like the Hamptons and Malibu in quality of life, it has lacked the renown of these globally recognized destinations," said Laura Brady, Founder and President of Concierge Auctions. "When Bill approached us for this auction, our mission was clear: to position Rancho Santa Fe alongside the best communities and El Milagro among the best residential estates in the world. Now, with the highest sale in Rancho Santa Fe in three years, it's not an exaggeration to say that our continued success in auctioning the world's finest properties like El Milagro is revolutionizing the luxury real estate industry."                                                                                                                  

About Concierge Auctions

Founded in 2008, New-York based Concierge Auctions has quickly become the dominant player in the luxury real estate auctions sector, selling high-end properties worldwide through a transparent and market-based bidding process. Since its founding, Concierge has successfully closed over a half-billion dollars in luxury properties, with $194 million contracted in 2013 alone — at an average price of $5.4 million. The business has spanned the globe, domestically from New York to Hawaii, and abroad from Fiji to Toronto.

Media inquiries: Jamie Silverstein, [email protected],

SOURCE Concierge Auctions