Dream home sells at auction
Oct 26, 2013 / 6:00 am
A luxury home in West Kelowna sold through the unconventional manner of an unreserved auction, it was purchased for $3.65 million.
The bidding took place on Oct. 24.
The sale makes the home one of the highest selling residences on the Westside.
Five registered bidders competed during 'The Garage Sale' Luxury Auction which was attended by over 100 guests.
In addition to selling the home, a charity auction was also held, raising $10,000 for Nature Trust of British Columbia and over $18,500 for Pacific Wild.
It's a dream only very few of us can experience but one that appears to be reoccurring.
Alex Lambert of The Luxury Auction House is once again placing a home up for auction with no minimum and no reserve bid for the second time in the Okanagan.
The home is located in West Kelowna, perched on a hill in a quiet, gated cul-de-sac over looking Okanagan Lake.
At just under 7,400 square feet, the residence is built on one level with a suite above the garage, and Lambert says the unique fact about the house is despite its size it has a very comfortable home like feel.
"The wood features, the overall Tuscan style of the home, the craftsmanship is incredible. There has been a lot of use of solid woods, reclaimed timber, the hard plank flooring, there is just an exceptional feel to it.," says Lambert of the home.
"Along with the openness to the outdoors, big views, it's very private, and has an old style English oven, some beautiful features."
Lambert's previous unreserved auctioned home sold for $4.7M, back in July. Nautica Vista was built with the intention to be sold in auction however La Sommita which means the summit was formally owned as a second residence.
"Another owner who had watched the (previous) process, took an interest in the auction process, then approached us about going ahead with an auction on their home."
It's a process Lambert hopes will catch on and attract others into selling their homes via luxury auction.
"It's certainly new to a lot of folks and there is a lot more understanding of it after seeing the process, the transparency and a lot more comfort around how it's actually done."
The auction will take place Thursday, Oct 24, and there is already more bidders lined up to attend than Lambert's previous event, Nautica Vista, including several interested participants from right here in the Okanagan.
"We are a little on the edge of our seats, because you never quiet know what people are going to do up until the auction date. We did lose four bidders last time and hopefully that is not the case here and we have a good turn out."
The home is assessed at $4 million, and those who pre-qualify have already toured this classic Italian residence and it's clear one of them could walk away with a great deal during this unique auction event.
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