Island Lifestyle & Real Estate News

SOLD | The Beacon


If you're wondering about the results of the auction for this spectacular island home, here's what it was like to be there:


Eight qualified bidders registered and were ready to bid on this unparalleled luxury Catalina Island property. Confidentiality is key during this process. Only a select few knew the bidders' identities and opening bids. Only each bidder knew how high they might go once the auction started.


Any expectation of an onsite auctioneer was quickly forgotten. The process happens online, either through a bidding app on a smart phone or tablet, on a laptop, or in direct contact via phone with the auction company representatives. This was a very different experience. There would be no competitive glances between bidders. No rapid-fire calling out of the bids from an auctioneer.


The virtual auctioneer remotely received bids that were posted online in real time. Wherever each bidder was located in the world, they were glued to their screen (or on the phone with a facilitator), making sure that a constant connection to the bidding process was secure and uninterrupted.


It was a tense and exciting anticipated bidding timeframe, with only thirty minutes slotted for the actual bidding. In the final countdown with only seconds left, time was suddenly extended by a few additional minutes. This happened several times, as bidders requested the courtesy of a brief delay, giving them extra seconds to decide whether to bump up their bid or drop out altogether.


Of the eight bidders, five dropped out quickly. Three active bidders remained. Of these three, only one bidder was onsite at the home. Preferring to be surrounded by his family and the beauty of the property, he told us, "I didn't want to do this alone from a hotel room."


The house was quiet except for light conversation and curious speculation. Little did we know at the time that we were looking at the ultimate winner, who calmly held his beverage while considering his options. At one point as the numbers increased, he walked away. We thought he might have reached his limit. When he returned, with only seconds remaining, he was remarkably thoughtful and calm as he placed what would become the winning bid.


When the auction finally "closed" and he realized "The Beacon" was his, it was exciting to see how happy he was and how thrilled his family was for him. They truly understood the incredible value, luxury and comfort of this gorgeous home. They will love this home. They will love this island.


The sellers, watching the auction from the mainland, expressed in a text to Kelly that they were pleased with the ultimate outcome. Nothing could have made Kelly happier than their gracious and encouraging words.


Our first auction experience was educational, informative and invaluable. There was a tremendous amount of world-class marketing done by Concierge Auctions, and their constant communication and professionalism was impressive. The home closed escrow at $5,125,000.

Video Tour with Kelly | 223 Beacon | Catalina Island, CA | Concierge Auctions

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