SKY Sotheby's/J.P. King Property Auction in Sarasota, Florida

On May 18th SKY Sotheby's International Realty and J.P. King teamed up to sell a portfolio of luxury properties via auction. The auction was held at the Ritz Carlton in downtown Sarasota, Florida. Over 300 people attended the exciting event which was the areas largest luxury home portfolio auction ever presented in a single swoop.

The largest transaction in the auction was a mansion in Lakewood Ranch. The 14 acre, 7 bedroom, 11,000 square foot home with a 22 stall barn sold for $6,000,000. The buyers also had to pay a 15% buyer premium so the buyer actually paid $6.9 million.

Typically, properties will sell before, at and after the auction. The president of SKY Sotheby's International Realty predicts that ultimately a total of about $32 million dollars of property will have sold.

We plan to have another auction late in 2007. If you are looking to sell your home contact me at 941-812-6272 or email me at marc.rasmussen@skysothebys.com