Villa Rockledge – Laguna Beach, CA
One of California’s most historical coastal estates languished on the market after traditional marketing and sales tactics did not yield any offers. The Estate consists of a main home and six additional guest residences. Villa Rockledge is one of only a few homes that owns its very own beach on the Pacific Ocean.
After a long period of time with no results, a local broker and the Owner approached Premiere Estates Auction Company. Their goal was to identify a buyer within 6 weeks time who would pay market value. The last list price of the property was $17 Million. Because the property is so unique, it was a difficult property to value. After careful analysis using Premiere Estate’s wide-ranging tools, the appraisal team and the Owner of the property settled on a reserve price of $10.5 Million.
Premiere Estates Auction Company implemented its event marketing strategy and reached out to its proprietary databases of trusted advisors, wealthy property owners, and the broker community. We marketed strongly on a local, national, and international level. Premiere Estates hosted a pre-auction gala, with over 300 qualified and connected buyers and others in attendance. It was quickly determined the buyer for the property was in attendance. A sale was negotiated for an all-cash buyer who agreed to close within a matter of days.
The Sale closed several weeks before the scheduled auction date at a price of $14 Million.