For those who aren’t familiar with the auction world, images of eBay or an estates sale might register. Be sure to add luxury real estate to that vision as extraordinary homes around the country are available via auction. Heritage Auctions, the largest collectibles auctioneer and third largest auction house in the world, has several available properties this Summer, including a home just an hour outside of New Orleans.
Belle Alliance, located in Donaldsonville, is the company's first Louisiana sale in recent years (the auction ends June 9). The 9,827 square foot property was originally designed in the Greek Revival style by Henry Howard and underwent a painstaking 10-year renovation. The massive home contains many of the original features—including the millwork, medallions, and moldings—and has been updated for modern use. It includes fun features like a ballroom (that doubles as a recording studio), a large catering kitchen, and 5,000 square feet of outdoor space to enjoy.
The estate sits along Bayou LaFourche and is the perfect property for a real estate auction. "We feel the best homes for auction are the extraordinary, unique and one-of-a-kind," a Heritage Auctions representative said. "Homes that have a historic or architectural significance or special location, these properties will get a premium than their neighbors."
The company told Adore that real estate auctions are becoming a more popular option as sellers realize that the method is the "only way to sell properties efficiently. "
"With traditional listing, it’s a waiting game for buyers to appreciate the property and hopefully submit an offer. We expedite the selling process, show the property to dozens in a few days, and get multiple offers (bids) from prequalified end-user buyers."
The no-reserve auction opens at $700,000 and the highest bidder will win the home sans negotiation process. “Like any other auction, once the auction closes, the highest bid is the price the buyer pays, plus a buyer’s premium. There is no back and forth with the seller.” Terms are determined prior to the auction, and Heritage provides a comprehensive due diligence package which includes everything to inspection reports and surveys. On the other side, buyers know that the seller is serious as the house will be sold at auction on the specified day.
Heritage Auctions is the largest auction house founded in the country and boasts more than 1 million online bidder-members registered. The Donaldsonville property is attracting attention from admirers across the globe and registrations are already coming in. "We’re anticipating a well-attended online auction."
Following the auction in Donaldsonville, Heritage heads to Lake Tahoe for an auction on June 16. Auctions in Sarasota (FL), Carmel (CA), and Cape Neddick (ME) will follow.
If you are interested in bidding this June, please visit HA.com/LuxuryEstates or email LuxuryEstates@HA.com. All bidders are required to pre-qualify for each property auction by submitting proof of guaranteed funds.