Stirling Sotheby’s to host live Worldwide Auction of Ginn Resort properties
More than 20 luxury homes to be offered
Palm Coast, Florida – September 19, 2008 – Orlando-based Stirling Sotheby’s International has announced that it will conduct a worldwide auction of luxury homes and properties in the renowned Ginn Resorts; Reunion, Bella Collina, and Hammock Beach. The properties are privately owned, not owned by Ginn.
More than twenty homes, ranging in price from $300’s to $4 million, are expected to be auctioned on October 25, 2008 at 11:00 am EDT. Stirling Sotheby’s will announce its formal house line-up on September 25, 2008. Properties will be available for sale in person or online. At least some of the properties will reportedly be sold "absolute," meaning that there will be no reserve price.
"We believe this will be one of the most exciting auctions of the year," said Roger Soderstrom, owner and founder of Stirling Sotheby’s International Realty. "We are expecting a great deal of interest from buyers across the globe, especially in the United Kingdom, Canada and northeast United States."
To reach those buyers, Stirling Sotheby’s International Realty will conduct a global marketing campaign. "We will aggressively market the properties to potential buyers in the Northeast and Midwest, as well as Canada, the UK and Europe," said Soderstrom.
Located in the theme park capitol of the world, Reunion is within minutes of Disney World, Sea World, Universal Orlando Resort, Florida’s famous beaches and dozens of other world-class attractions. Orlando draws 50 million visitors each year, 3.5 million being international visitors. Bella Collina is on Lake Apopka nearby. Hammock Beach is on Florida’s northeast coast in Palm Coast between St. Augustine and Daytona Beach.
auction
Toby, are the homes individually owned or foreclosures? I do not seek either source of sellers, just curious.
E.R. Ginn 3rd
The history of "Bobby" is a great story to be compaired to all the wall street blunders of late. Perhaps his greatest quote when refering to the complexity of all his companies that he put together in the 1980’s for his Hilton Head Island scheme "they are held together with peanut butter". The now 62 year old is realizing the peanut butter is not made the way it was back then, as it oozes out, of his sandwiched companies of the 21 century.
Dump them before courts attach them?
This is timely, as with all the lawyers coming after Ginn, he knows these remainig assest will be attached. He will probably be to late, as this announcement will force fast action in courts.
Question not comment
I’m curious to see what everyone thinks about auctions in general. I’m a bit torn. Assuming the auctions bring buyers there is the potential to move some of the short sales, foreclosures, etc. It also brings activity to a project which is typically a good thing.
On the other hand is the obvious, the sales prices are WAY below what was originally paid.
I think the activity is good. Values are already in the tank so what is the worse that can happen?
Any other takes?
Highest Bidder drops hammer
The marketing of a property, whether it is an auction or typical real estate listing, makes all the difference. The internet reaches many and can draw the highest bidder these days as seen in the Barrett-Jackson classic auto auctions that are televised. The use of international Real Estate Brokers will have a long arm to pull in the interest of worldwide buyers. This is very smart, as the local Brokers don’t have the means to do this. They can go to web based sales and even auctions, but the internationals have cooperating brokers with clients that the local brokers don’t have. Bobby knows "it’s a small world after all", he’s been to the Magic Kingdom.