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Press Release - October 30, 2018

New Online Platform Helps Heritage Auctions Realize $1.32 Million for Florida Waterfront Home

Simplified real estate process boosts interest in luxury property auctions

Waterfront estate in Venice, Florida
DALLAS, Texas (October 30, 2018) — Eyeing a chance to own a stunning waterfront Florida home, multiple bidders drove the price for 945 Inlet Circle in Venice, Florida, to $1.32 million in Heritage Auctions’ no-reserve auction Oct. 23.

On the market for just 42 days, the property was toured by more than 80 interested parties, and an active online auction yielded the highest price per square foot for a waterfront property with a dock this year.

"There was a lot of interest and excitement about this property, and it shows in the results," Heritage Auctions Luxury Real Estate Director Nate Schar said. "Our new online platform is proving to be quite popular with buyers and sellers looking for an easier way to handle real estate."

Heritage launched the online-only platform this year to offer sellers an alternative method of selling their luxury properties. Auctions are held online with a series of preview days leading up to the sale date. Buyers must pre-register before the auction to participate. The new platform sells homes in about 90 days and is best suited for properties priced between $500,000 and $2,000,000.

Schar said that popularity of the auction format represents a shift in the way many people go about buying and selling real estate.

"The market is ripe for a disruption," Schar said. "We believe that our online platform, and the auction model itself, brings the speed and convenience today’s homebuyers want and need. The buying process is simplified for them since the inspections and due diligence work is already done before the bidding begins. Our bidders are confident in what they are buying, which means better results for our sellers, too."

Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.

The Internet’s most popular auction-house website, HA.com, has over one million registered bidder-members and searchable free archives of four million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit.


Steve Lansdale, Public Relations Specialist
214-409-1699; SteveL@HA.com

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