Last week we, Concierge Auctions and Hawaii Life, teamed together to sell 118 Acres of Agriculture Land on the North Shore of Oahu. Three separate bidders stepped up to the plate to close on the three parcels that were auctioned.
It was a beautiful day at Turtle Bay Hotel, the site of last week’s auction
Auction Day for Paumalu Ranch Auction
The venue was set at Turtle Bay Resort on the North Shore. It was a gorgeous day and had the perfect backdrop on the point. There were seven registered bidders that showed up, all of which had to have a very large sum of cash in escrow in order to show up and play ball that day. In twelve years of selling real estate on Oahu, it was actually my first auction experience.
Auction Day – Only registered Buyers and their representatives were welcome to attend
The property was listed by our own Neal Norman and Julia Fetzer. Neal has had tremendous success with Concierge Auctions on Kauai and it was our first stab at it here on Oahu. The sum of the parts ended up being greater than the whole as there were three different Buyers, as I mentioned previously.
With the amount of marketing and attention the properties got, it really put the Seller in the driver’s seat to make the best decisions with the offers they had. It’s actually a brilliant way to have that information all at once to make the most informed decision not only on what the market will bear, but all at once.
All three properties are scheduled to close later this month. If you feel that you missed out on an opportunity to purchase some nice land on the North Shore, Julia Fetzer and Sean Ginella always seem to have a great handle on the market and are always carrying some great inventory.
Is an Auction Right for Your Hawaii Property?
In addition, if you have a great luxury property here on Oahu that is unique, or has been listed prior without success, feel free to contact us and see if an auction might be right for you.