Target Auction Company Announces Successful Sale of 'Tennessee's Largest Home'
Auction Kickstarts Luxury Home Sales Process
KNOXVILLE, Tenn., Oct. 22, 2020 /PRNewswire/ -- Target Auction Company is excited to announce the sale of Tennessee's largest home, a magnificent waterfront estate known as "Villa Collina." Target Auction Company President, Dewey Jacobs said this spectacular property was scheduled for auction but sold prior for $11 million to an international buyer.
Target Auction grants permission to use its high-resolution images in an article.
Villa Collina is located at 5628 Lyons View Pike on 8 pristine acres along the banks of the Tennessee River offering stunning water and Smoky Mountain views. Featuring more than 40,000 square feet, it is built in the Italianate tradition with master craftsmanship boasting 86 total rooms, including 8 bedrooms, 11 full baths, and 5 half baths.
Seller, Dr. Eric Barton stated, "I have loved my time here at the iconic Villa Collina, but my other projects are calling. It's time for someone else to fall in love with this exceptional property."
According to Jacobs, the real estate industry is seeing a trend of non-distressed clients downsizing from luxury properties, and auctions have proven to be a dependable tool to get these exceptional properties sold. He stated, "Often, large luxury homes are challenging to sell in the traditional marketplace. These unique homes are difficult to price simply because there are no comparables. Placing a luxury property up for auction can kickstart the process conveying a sense of urgency pushing potential affluent buyers to a point-of-action."
Villa Collina fits the bill as the height of luxury. The lavish home includes elaborate details, such as gold faucets, Turkish Afyon sugar marble, and hidden passageways and secret doors. One true touchstone is its $5 million master suite, which was featured on HGTV's "Million Dollar Rooms" and offers luxurious touches such as gold inlay crown molding, Swarovski crystal chandeliers imported from Italy, and door treatments alone are valued at $200,000.
More opulent features include:
- Three-Story Library
- 2,600± Square Foot Wine Cellar (holds over 100k bottles)
- 11 Fireplaces - Elevator
- Indoor and Outdoor Pools
- Fitness Center, Spa, and Sauna
- Home Theater
- Staff Quarters
Target Auction Company was pleased to work in conjunction with Berkshire Hathaway HomeServices/Dean-Smith Realty on the sale of this property.
Target Auction Company specializes in auctioning luxury homes, commercial, land, and other high-value real estate throughout the U.S. For more information, call 800-476-3939 or visit www.targetauction.com.
SOURCE Target Auction Co.
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