A record number of qualified bidders pushed the auction price of a sophisticated mountain retreat nestled among the ski and film scene in Park City, Utah, to USD4.2 million when Heritage Luxury Real Estate Auctions offered the prime estate on 1 March.
With access to world-class skiing and the world’s indie-film scene, the no reserve auction of 105 White Pine Canyon Road marks the firm’s most successful luxury estate auction to date.
“There is no doubt we reach qualified, motivated buyers who are ready to bid millions for the exclusive properties listed through Heritage Auctions,” says Nate Schar, Director of Heritage Luxury Real Estate Auctions. “A record, 10 qualified and fully-vetted bidders stood ready to cast a bid for this property and the result rocked the Park City, Utah, real estate community.”
The custom-designed, ski-in/ski-out home, is a comfortable showcase of exceptional features and finishes, including an impressive five bedrooms, eight baths, an elevator and a heated three-car garage. Just steps away from the Alpenglow Ski Run, this coveted location comes alive with exclusive access to mountain vistas, challenging trails, and year-round recreation. Groves of mature aspen and pine trees envelop the 6-plus acres of private property, with views of the mountains, valley and ski runs from every angle.
“Resort real estate is tricky at times and our market is made up of a good amount of luxury second homes,” says Michael J Mazzone, a Park City resident for 23 years and broker on record for the auction. “[Heritage Luxury Real Estate Auctions] could not have been more transparent and professional throughout the process. The marketing that Heritage did for this home is like nothing I have ever seen in my career. Even if it was something I could match financially, I do not believe it would reach the audience that equals a qualified Heritage client.
“I am proud to be the Broker of record for this transaction and I hope I can assist in many more transactions in The Park City market with Heritage Auctions by my side,” says Mazzone.
Using non-traditional marketing methods and connecting with Heritage Auctions’ over 950,000+ online bidder members, interest in the property reached as far as The Middle East and across North America, according to Schar. The home’s dedicated website received more than 18,500 visits and staff hosted more than 30 previews.
“We remain steadfast in our dedication to balancing our clients’ needs with market conditions and then thinking outside the box to reach bidders who have never before considered a luxury real estate auction,” Schar said. “The Park City, Utah, estate was a perfect example of how we reach high income and high net worth individuals as well as close the transaction within 60 days.”