Platinum Luxury Auctions Posts Record Sale for Southern California Marketplace

SAN DIEGO, Oct. 6, 2015 /PRNewswire/ -- The sprawling, mountaintop mansion in Escondido, California that has been a source of intrigue since its construction began more than 20 years ago, has been sold by Platinum Luxury Auctions and its cooperating listing brokerage, Pacific Sotheby's International Realty. The property, which was scheduled for an October 3^rd auction, was placed under contract, sold, and closed during the week preceding the planed sale. K. Ann Brizolis of Pacific Sotheby's was the listing agent for the transaction. The Rancho Santa Fe-based brokerage also represented the purchaser.

The pre-auction sale price of $5.5 million is a significant number for the Escondido marketplace, smashing the area's previous residential high of $2.8 million. According to Platinum, a search of the city's residential property records for the most recent, 10-year period revealed that there were only 9 residential sales within Escondido for prices at or above $2 million during that timeframe, with $2.8 million being the previous high price. "To nearly double the highest sales price within an entire city is certainly a testament to the power of our luxury auction process," noted Trayor Lesnock, Platinum's president and founder. "The combination of our efforts and the local market presence of Pacific Sotheby's produced exposure for this property on a level it had never previously experienced, and the result speaks for itself."

The property – a 23,000-square-foot structure perched quite literally on top of a mountain – offers unique features such as a glass-enclosed dining room with a rotating floor, custom 10-ft-by-10-ft doors that glide open on "invisible" hinges, and a 288,000-gallon pool that is purported to be one of the longest residential pools in the world.

The pool is a focal point of the home, beginning in its foyer and extending the length of the property until seeming to disappear over the eastern side of the mountain. Within the home's inner courtyard, the pool's footprint is enlarged to accommodate a Jacuzzi tub and "swim-up bar" area with underwater stools. Immense, sliding glass doors surround the courtyard, and can be opened with the touch of a button to blend the property's interiors and exteriors, creating an immense, indoor/outdoor living space.

Other unique features of the property include a commercial-grade kitchen with its own Teppanyaki station, a wine cellar and tasting area, garage parking on the lower level for up to twenty vehicles, a rock waterslide with plunge pool, and a walking trail encircling the entire estate.

Views from the property are impressive, with 360-degrees vistas of the surrounding mountains and valleys, and visibility all the way to the Pacific Ocean on a clear day. Sunsets are particularly spectacular.

Platinum's project manager for the sale, David Ashcroft, noted that perhaps the most interesting component of the auction process was not the property itself, but the individuals who expressed an interest in purchasing it. "When handling a home that is this unique, there's an expectation that some 'unusual' folks will be drawn to it, but the caliber of the prospective buying audience generated by our marketing program was incredibly impressive," said Ashcroft, who added that the property received more that 120 bona fide inquiries from across the world, and was shown 86 times during its 6-week, auction-marketing program. "Some very serious businessmen stopped by, including a gentleman within the top 100 of the Forbes wealth list." Mr. Ashcroft described the buyer of the home as a private entrepreneur with multiple real estate holdings in southern California.

Additional details on the sale can be found at CaliforniaLuxuryAuction.com, or by calling Platinum's offices at 1-800-262-5132. The firm also has two additional auction sales scheduled in the adjacent Rancho Santa Fe marketplace within the month of October. Pacific Sotheby's International Realty is also the listing agency of record for each of those luxury auctions.

About Platinum Luxury Auctions
Platinum Luxury Auctions is a market-leading auction firm specializing in the non-distressed sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $400 million in luxury real estate auction sales, and has consulted on more than $1.4 billion in additional luxury property volume. Platinum is responsible for developing the luxury auction^SM model for the sale of luxury real estate at auction.

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SOURCE Platinum Luxury Auctions

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