WELLINGTON, Fla.--(BUSINESS WIRE)--Miami-based Platinum Luxury Auctions has announced its tenth luxury auction® offering in the village of Wellington, Florida. On March 9, the veteran luxury real estate auction house will offer a pair of 5-acre parcels in a live auction wherein the highest bidder shall prevail regardless of price. The parcels were previously listed for $4.5 million collectively, before the seller retained Platinum to exclusively manage the no-reserve auction sale.
“Since our first Wellington sale in 2013, we’ve consistently delivered a global audience of buyers to the marketplace who are in search of special or unique equestrian properties and horse farms,” said Trayor Lesnock, Platinum’s founder and president. “Our March 9 offering is a working horse farm with tremendous upside potential, and it’s located within hacking distance to WEF grounds.”
A property’s proximity to the grounds of Wellington’s Winter Equestrian Festival (or “WEF”) is a critical component of its value, Lesnock added. The two parcels are within a 15-20-min “hack” – a term used to describe the non-competitive riding of a horse, usually at a gentle pace – of the WEF complex.
The two-parcel assemblage is within the Rustic Ranches subdivision, a small development of 5-to-10-acre ranches and horse farms, along with a handful of residential estates. The community enjoys city water service while being free of the excess restrictions of a homeowners’ association.
The parcels sit side-by-side, east-to-west. The eastern parcel measures approx. 5 acres, and hosts a range of equestrian amenities, including a 150-ft by 250-ft riding arena, 8 paddocks, 2 barns offering 18 total stalls, a round pen, storage sheds, and grooming/wash stalls. There is also a charming cottage with 2 beds and 2 baths.
The western parcel is slightly larger, at 5.26 acres, and it includes a recently renovated residence. The single-story home has 3 beds, 2 baths and a 2-vehicle garage. The roof is new as of 2022, and interiors are spacious and filled with light. Each parcel also has a small pond.
While Lesnock speculated that it’s likely buyers will want to buy both parcels together in order to have a +10-acre assemblage with additional room for development, the parcels could also be sold individually. “It’s common in these types of offerings that we have the bidders specify their purchase preference in advance, so that we may then tailor the auction offering to their given preference.” For example, if 10 bidders register for the auction, and 8 of those bidders specify they would only like to buy the eastern parcel - instead of both parcels - the eastern parcel would be offered and sold individually.
Platinum’s project manager for the transaction, Tawny Wolf, is available to host previews of the property by appointment, between the hours of 11am and 5pm every Friday through Tuesday until auction day. Ms. Wolf can be contacted at 800.683.3789. Additional property and auction information can also be found online at WellingtonLuxuryAuction.com.
About Platinum Luxury Auctions: Platinum Luxury Auctions created the luxury auction® model for multimillion-dollar real estate auctions and owns the federal trademark rights to the term “luxury auction.” The Miami-based auction house specializes in the non-distressed sale of multimillion-dollar properties in the U.S. and select international markets, and has offered properties in 33 states and 14 countries. Platinum’s team has closed more than $1.35 billion in luxury auction sales, and has consulted or advised HNW and UHNW individuals on more than $3.75 billion in luxury property assets. PlatinumLuxuryAuctions.com.
