Despite Record Price Offer, Wild Orchid Stables Sets Sights on Winter Equestrian Festival

WELLINGTON, Fla., Dec. 12, 2013 /PRNewswire/ -- The planned auction of Wild Orchid Stables has been rescheduled for March 1^st, 2014 in order to coincide with Wellington's Winter Equestrian Festival (WEF), the world's largest and longest-running horse show. The auction of the 15-acre equestrian estate is being managed by Miami-based firm Platinum Luxury Auctions, a nationally prominent real estate auction house specializing in the sale of unique and distinguished properties. Platinum is partnered with listing agent Matthew Johnson of Illustrated Properties for the sale.

The property was originally scheduled for sale at a live auction on December 7^th. However, Platinum and the seller elected to postpone the date of sale to accommodate several key bidders who are coming to town for the 2014 WEF season. "We identified at least three qualified, international buyers who were unable to attend the original auction date, but who expressed a willingness to pay at least the reserve price for the property, which is set at $2.75 million," noted David Enriquez, Platinum's director of operations. "The issue was that they just weren't arriving until the WEF, and they didn't want to send a representative to bid on their behalf, site-unseen."

Following the firm's successful auction of Wellington's Two Swans Farm for $7 million during the 2013 WEF season, Platinum looks forward to presenting another luxury property to the WEF crowd in 2014. And while Platinum is excited about the new auction date, the marketing of the originally planned auction was not exactly a wasted effort. "Nearly 70 prospects have already toured Wild Orchid Stables as a result of the initial marketing period," stated Trayor Lesnock, Platinum's president. The process even produced a rather significant offer. "Prior to the planned auction, a European couple stepped forward with a written, cash offer for nearly $3.4 million with a 5-day closing," Lesnock added.

Should that offer have been accepted, it would have created the all-time, record sale price for the entire community of Homeland, where the estate is located. At $3.4 million, the sale would have nearly doubled the 35-year-old development's existing price record of $1.8 million.

Although the seller was tempted to accept the offer, his excitement for the WEF bidders prevailed, and the offer was declined. In fact, he even decided to move forward with the renovation of one of his outbuildings to create a brand new barn for the next owner. "I thought the seller was kidding when he told me he would 'even build a barn' for the new auction. Within 24 hours, I was receiving construction photos on my iPhone. It was impressive," added Lesnock.

Built and owned by a professional contractor, the expansive 5 bedroom and 6.5 bath estate includes a separate guesthouse, resort-style pool with waterfall, waterslide, wet bar and hot tub grotto, custom car garage, 200-foot by-100 foot riding arena, six paddocks, and a stocked fountain pond.  

Interested parties can visit WildOrchidLuxuryAuction.com, where a full-screen, HD photo slideshow offers an inside look into Wild Orchid Stables. For additional information, contact Platinum at 800-262-5132 or by email at [email protected].

About Platinum Luxury Auctions
Platinum Luxury Auctions is a nationally prominent auction firm headquartered in Miami, specializing in the sale of unique and distinguished properties. The firm's principals have closed more than $300 million in luxury real estate auction sales, and have advised or consulted on nearly $1.25 billion in additional luxury auction properties. Platinum has successfully managed the sale of three other multi-million dollar equestrian properties in 2013, in markets ranging from Florida to California.

SOURCE Platinum Luxury Auctions