Vollebak Island in Nova Scotia and Sterling Manor in British Columbia are set to become the first two Canadian properties to be made available for bidding by Sotheby’s International Realty, which will culminate in a live auction in New York. Canada_SIR
3:28 PM Jun 12, 2023
, which was founded in the United States is 2008 and acquired by Sotheby’s in 2021. Concierge Auctions has conducted auctions in 46 states and 35 countries, including for clients such as Cher and Michael Jordan. It now provides Sotheby’s International Realty with brand exclusivity as Sotheby’s Concierge Auctions.
Brady says the auction process is something that’s more of an addition to the traditional real estate sales process, rather than a replacement. When Concierge Auctions agrees to auction off a home, they take four weeks to market the property and list it as one would during the traditional sales process. After those four weeks, they open up the property for bidding, and Brady says there’s a five-day period for accepting bids, which ends at the live auction.
Bidders typically fall in love with a property during that four-week period, Brady says, and will then travel to see the property — or send somebody on their behalf — before then placing a bid. Properties do occasionally get sold sight unseen, however.
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