Opening Bid of $6 Million Ignites Absolute Auction of Luxury Ski-In/Ski-Out Residence in Vail Valley, Colorado

VAIL, Colo., July 20, 2011 /PRNewswire/ -- An opening auction bid of $6 million has been received for the August 6th auction of a premier Vail Valley mountain residence with state-of-the-art amenities and ski-in/ski-out access to Arrowhead and Beaver Creek resorts, Concierge Auctions has announced. Originally listed for $14.25 million, the property will sell at a live, absolute auction on August 6th, meaning it will sell to the highest bidder at or above the $6 million opening bid. The auction is being conducted by Concierge Auctions in cooperation with managing broker Kent Barker and associate broker Katherine Spoonhour of Slifer, Smith and Frampton Real Estate.

"This is an exciting announcement, as we have a clear understanding of the baseline for this auction. Selling regardless of price to the highest bidder, we now know the property will transfer for at least $6 million," stated Laura Brady, Vice President of Marketing for Concierge Auctions. "Anyone interested above this bid should call us and become involved. Vail Valley is one of the most sought-after mountain destinations in the world. Bottom line, this is an opportunity that shouldn't be missed. If no higher bid is received, the opening bidder will own this extraordinary property for only $6 million."

Located at 2195 Cresta Road, on the most prestigious street behind the gates of the Arrowhead Resort, the 13,700-square-foot estate facilitates an active mountain lifestyle with a host of unique amenities and unparalleled ski-in/ski-out access to Arrowhead and Beaver Creek ski areas. Interior features include 7 bedrooms, 8 full and two half bathrooms, 10 fireplaces, wine cellar, theatre room, elevator, expansive outdoor terraces, chef's kitchen with pizza oven, and indoor heated lagoon-style pool.

Arrowhead Village is uniquely situated at the base of North America's premier Village-to-Village ski mountains. The trails of Arrowhead are linked with those of Beaver Creek Village and Bachelor Gulch Village, creating a total of approximately 1,625 acres of skiable terrain on Beaver Creek Mountain. Nearby Vail is one of the most refined and renowned Alpine ski villages in the nation.

The live, on-site auction will occur on August 6th. Incentives are being offered for opening bids at $6.5M, $8M and $10M. Phone and Internet bidding will be available. Pre-registration is required. The property is open for preview daily from 1 to 4 p.m. and by appointment. A 3% commission is offered to the buyer's broker. See Auction Terms and Conditions for full details. For more information call 877-217-2001 or visit www.VailLuxuryAuction.com.

About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-end sellers nationwide.  A leading provider of services for individual and institutional owners of luxury residential real estate, Concierge Auctions is revolutionizing the industry by offering an accelerated marketing process that obtains fair market value for high-end properties in a determined time frame.  Building on a centuries-old method for selling the finest art and antiquities, the company combines the latest technologies and marketing programs with experienced personnel to generate the maximum value for the most premier properties in an open, competitive forum.  As a preferred auction provider to Sotheby's International Realty® and other luxury brokerage firms, the company has executed auctions throughout the country, from New York to Hawaii.  The company's database includes more than 100,000 luxury real estate buyers and agents from all 50 states and 38 countries and territories.  The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury real estate sales over the past 10 years.  For more information, call 888-966-4759 or visit www.ConciergeAuctions.com.

SOURCE Concierge Auctions