clubhouse

Spend any time in suburban Florida and you’ll see a lot of gated communities. It can seem as if the entire state lies secluded behind guard gates staffed by cheerful folks with clipboards and magic powers to allow or deny entry.

The true luxury in these communities is two-fold: privacy and amenities. Lush green space abounds and it seems that lawns and trees are always in a constant state of being trimmed and tended to. Amenities can be as simple as a community clubhouse and pool or range to a full-service country club. Even at the country club level, there are country clubs, and then there are the kind of clubs where service is delivered at an elevated level.

This brings us to The Bear’s Club in Jupiter, Fla., a spot that has drawn everyone from Celine Dion to Michael Jordan. The area seems to have a particular lure for golfers. Jack Nicklaus designed The Bear’s Club in 1999, creating a majestic and challenging 18-hole golf course and a community over 401 acres. The community is less than two miles from the ocean and within easy striking distance of the tony shops of West Palm Beach.

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72 White Pine Canyon Road | Park City, UT | Luxury Real Estate

72 White Pine Canyon Road | Park City, UT | Luxury Real Estate

It’s ski season!

You know about the real estate auction business, yes? I have tried to educate my readers (and myself) about this growing and phenomenally great way to pick up extreme real estate for a great price. I am told that Dallas pipeline magnate Kelcy Warren LOVES to buy real estate through auctions and in fact, the mega rich do constantly comb auction sites for deals in land, homes, yachts, planes and cars.

72 White Pine Canyon Road | Park City, UT | Luxury Real Estate

Well, tomorrow — yes, tomorrow! — you can bid on the home where the stars love to ski in Utah: 72 White Pine Canyon Road, a stunning 17,000 square foot plus mega ski house built in 2001, designed by one of Park City, Utah’s most famous architects, Jack Thomas, now the Mayor of Park City. Thomas has built some of the most iconic Park City homes, and is best known for creating Main Street’s “Egyptian Theatre”.

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I have been on pins and needles waiting out this auction, bugging Robbie Briggs and Laura Brady at Concierge Actions all day yesterday. At about eight p.m. Friday night Robbie Briggs emailed me that “It was a fascinating process, and it appears to be successful.” Saturday morning I heard from Laura Brady who said — “we haven’t released details to anyone… the high bidder has formally requested confidentiality about their name and the high bid amount.” Which means the house did sell, we just don’t know for how much and who it sold to.

Great news! Briggs pulled off a near dang miracle!

Refresher: the 48,000-square-foot Hickory Creek mansion, known as Champ d’Or, which translates to “Fields of Gold,” was put up for auction by Concierge Auctions out of New York Friday, March 30 with a minimum reserve bid of $10.3 million. Champ d’Or cost about $46 million, took five years to build, and has been sitting on the market for umpteen years. Last market listing was $35 million and at least five local brokers have attempted to shed the house spending at least a half million to do so. The Denton County mansion was last appraised for tax purposes at $9.72 million, according to the Denton County Appraisal District. Champ d’Or was modeled after Vaux-le-Vicomte chateau in Paris.

Reading between the lines, I’m wondering if there was a confidentiality clause signed.

I have so many questions: how many bidders were there? Did they meet the reserve? A reader on CandysDirt pointed out they must have because, in order to bid, you agreed to start at the minimum amount. (Unless, as someone else said, they dropped the reserve at the last minute…) Did they go into private negotiations? Were the bidders actually there? In most auctions, experts tell me they show up 75% of the time, unlike luxury auto auctions. They like to see the process and what they are buying. Sometimes buyers do send their brokers or POA reps.

I asked a veteran local real estate auction expert (who asked to remain confidential) to speculate on a couple of scenarios and tell me what HE THOUGHT went down. Speculation here, folks. What if, I asked, they didn’t meet the reserve yesterday? Let’s say they stalled out at 7 million, he said, you know everyone is staring at each other, they just thank everyone for participating and end the auction. They may take the top bidders aside, say hey we didn’t make the reserve, what are you interested in putting into this property? In other words, private negotiations begin.

“Pending contract” could mean they are still trying to work out a contract, they didn’t make the reserve and are still negotiating. “Sale pending” may have indicated they made the reserve.

Now let’s say it sold at auction, met the reserve, bingo. Typically, there are no contingencies. If they negotiated privately, the buyer may have said I want to bring in my own inspectors, etc., which any realtor knows just opens up the door for guess what: more negotiations.

The sprawling estate was drawing widespread interest from buyers across the U.S. and internationally, Laura Brady, vice president of marketing for Concierge Auctions, told the Dallas Morning News’s James Ragland. I know that, because even people from Japan who had seen it on my blog were emailing me about it. A refundable $250,000 cashier’s check was required to register, the number of bidders was confidential. James asked Laura some great questions:

Potential buyers were expressing interest in pursuing “the property for residential purposes, which is how it’s used now,” as well as possibly using it for a business headquarters, she said. Brady said developers also had designs on the property, which is about 40 miles north of Dallas.