Bidding begins in unreserved auction on waterfront mansion valued at $11.5 million in Coldstream

Bids begin on $11.5M home

Do you have a few million dollars to spare?

If you do, you might want to consider looking at a waterfront mansion that's being offered in an unreserved auction. 

But, while the thought of snapping up a luxury home for pocket change is enticing, you had still better have deep pockets. Initial bidding is already well into the seven-figure range.

Still, the idea of a bargain lured us out to take a look.

The home, located at 8200 Kalavista Drive in Coldstream, is valued at $11.5 million. It has six bedrooms, nine bathrooms, a home theatre, a billiards room, hot tub and a backyard with a private beach.

The house is nearly 10,000 square feet, with outdoor and indoor seating options in a quiet neighbourhood.

"I've seen some nice homes with Concierge, but the quality of construction on this one is unparalleled," says Ian Johnson, project sales manager at Concierge Auctions. "It's really well put together and really well designed too."

Concierge Auctions provides online bidding to clients all over the world. They are a third-party agency that handles the auction aspect when dealing with luxury homes.

The mansion has had quite a bit of interest already, considering its high valuation.

"We've had over 40 qualified showings, which are people who have the ability to participate in the auction financially and who have an interest in the property," says Johnson. "I've also had well over a hundred people come look at the home through our open house process."

Bidding closes on Friday, and the initial offer made on Tuesday was called in at $6.2 million. For more information, you can visit the home's listing on Concierge's website.

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