Both Concierge and Platinum auctions charge a 10 percent premium on the purchase price. Brady, the founder of Concierge, said that this year her company will auction about 140 properties with an average price of $3.8 million. Lesnock, of Platinum, said he holds about 25 auctions a year with an average sales price of $4.6 million. Both say their businesses are growing annually.
“Our client base has shifted,” Lesnock said. “It’s gone from people who are selling their third, fourth, or even fifth homes, to older folks who are downsizing.”
This article was provided by Bloomberg News.