29 Aug Madrona Grove Successfully Auctioned
Pender Island Charity Home auctioned off for $725,000
Pender Island, B.C. – August 28, 2014 – The Garage Sale Luxury Auction House has successfully auctioned off a seaside luxury home for $725,000 with 100 per cent of the net proceeds going to the BC Cancer Foundation to support cancer research. In total, $800,000 was raised from the auction and event party. Donated by locals Robert and Diane Conconi, Madrona Grove is a newly built waterfront home on North Pender Island.
A contingent of five registered bidders, and their families and friends, were in attendance at Friday’s event. The auction reaffirmed the current market conditions on Pender Island and the southern Gulf Islands.
“Both our out-of-province buyer and our client, the BC Cancer Foundation, were happy with the outcome of the auction. We would have liked to see the home go for over a million dollars, but the business of the day was the sale of a home and the sale price achieved is a true reflection of the market conditions in the area,” says Alex Lambert, CEO of The Garage Sale Luxury Auction House.
“According to MLS statistics provided by the Victoria Real Estate Board, 48 homes have sold on Pender Island in the last eight months, with five sold for over $700,000, the highest being $825,000 for a comparable oceanfront property. The exposure created by The Garage Sale Luxury Auction House in marketing this property was unparalleled. It was an experience I will never forget,” says Sam Boyte, local partner and owner of Dockside Realty Ltd.
“As long as inventories remain high on the Southern Gulf Islands, it’s a real opportunity for buyers in this very special part of Canada’s recreational real estate market,” says Alex.
The 2,662 square foot home was constructed in 2012 from lumber felled on its southwest-facing 4.38 acre parcel of land. In hopes of earning a sale price reflective of the true market value and in a relatively short period of time, the BC Cancer Foundation consigned Madrona Grove to luxury asset auction company, The Garage Sale Luxury Auction House.
“Upon receiving the home from Robert and Diane and with current market conditions we knew the traditional way of selling this property would not suffice,” says Douglas Nelson, President and CEO of the BC Cancer Foundation. “We came to The Garage Sale Luxury Auction House to ensure the Foundation received the best value from the Conconi’s donation. The proceeds will be put to use immediately.”
The closed auction was held this past Friday, August 22. The event featured a live performance by Juno award-winning, Jesse Cook and was attended by over 100 guests, including the home’s donors Robert and Diane Conconi.
Last year The Garage Sale Luxury Auction House successfully auctioned two spectacular Okanagan properties, Nautica Vista in Kelowna (auction price $4.7 million) and La Sommita in West Kelowna (auction price $3.65 million).
For more information on The Garage Sale Luxury Auction House and its unique auction process, please contact [email protected] or visit luxuryauctionhouse.com.
604-689-5559 | [email protected]
About The Garage Sale Luxury Auction House (TGS) was founded on a need to address the biggest challenges in luxury real estate markets. Its purpose is to provide new opportunities for buyers, sellers and agents and building a solution that serves these audiences in a more efficient and streamlined fashion. Its carefully refined process differentiates luxury homes and properties through strategic marketing, high production documentation, sound diligence and event style auctions. This allows TGS to achieve sales for luxury real estate in a fixed time frame. TGS is redefining the auction world and providing new instruments to the luxury real estate industry.
The BC Cancer Foundation is the bridge that connects philanthropic support and research breakthroughs in cancer knowledge. As the fundraising partner of the BC Cancer Agency and the largest funder of cancer research in this province, we enable donors to make contributions to leading-edge research that has a direct impact on improvements to cancer care for patients in British Columbia. We fund with the goal of finding solutions. Visit www.bccancerfoundation.com to make a donation or to learn how you can make a difference in the lives of those affected by cancer.