Market Snapshot:
Luxury Real Estate Auctions is the process of purchasing and selling property by offering it to bidders at a public forum run by a licenced auctioneer. If the highest bidder exceeds the reserve price, the property will be sold to the highest bidder. The more common method of sale is by private treaty, in which prospective buyers can inspect the advertised property and decide whether or not to make a written offer to the seller. Selling at auction is a common real estate practise, and if you are thinking about buying or selling property at auction, this fact sheet may help you decide if it is the best option for you.
Highlights from Luxury Real Estate Auctions Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Concierge Auctions (United States), Elite Auctions (United States), Sotheby’s (United States), DeCaro Auctions (United States), Platinum Luxury Auctions (United States), Interluxe (United States), Supreme Auctions (United Kingdom), Mansion Global (United States), Albert Burney (United States) and Doyle (United Kingdom). Additionally, other players that are part of this comprehensive study are Luxury Estates Auction Company (United States), Premiere Estates (United Kingdom), Beth Rose Real Estate and Auctions (United States) and Other.
Geographic Breakdown and Segment Analysis
The Global Luxury Real Estate Auctions market presents a comprehensive analysis of the Luxury Real Estate Auctions market by product type (Reserved Auction and Unreserved Auction), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Luxury Real Estate Auctions industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Luxury Real Estate Auctions market
Analyst at AMA have segmented the market study of Global Luxury Real Estate Auctions market by Type, Application and Region.
Influencing Trend:
Purchasing A Property At Auction Is Risk-Free
Market Growth Drivers:
Local and International Buyers Are Increasing Their Demand for High-End Calgary Real Estate
Challenges:
The Property's Market Value Is Determined On The Spot. It Can Never Be Certain Of How Much You Will Receive
Restraints:
Marketing Costs Tend To Be Higher and There Is No Guarantee That You’re Property Will Sell at Auction
Opportunities:
A Property Auction Sale Is Legally Binding For Both Parties
Market Developments Activities:
In June 2022, Concierge Auctions, the world's leading global luxury real estate auction marketplace, has rebranded as Sotheby's Concierge Auctions, pursuing the acquisition of the firm by Sotheby's, the world's premier destination for fine art and luxury goods, and Realogy Holdings Corp., the largest full-service residential real estate services company in the United States.
In February 2022, the platform's main function at launch, according to the Inland Northwest homebuilder, will be combining the Multiple Listing Service (MLS) found on other real estate sites with these buy-now and auction services. According to Sullivan, while Auctionable's services will be free to users, the company plans to generate revenue through partnerships with real estate-related companies and a future online home store.
Regulatory Insights:
A successful bid at a Department of the Treasury auction creates a legally binding contract between the winning bidder and the government. The contract is established by the auctioneer's announcement of the high bid amount and the bidder's number, which is subject to final approval by the government. This contract is governed by these terms and conditions, any special terms and conditions published by the contractor for the specific auction, 19 CFR Customs Duties Part 162, and all other Federal regulations governing contracts for the purchase of government property, which are available at http://www.acquisition.gov. The winning bidder is legally obligated to pay for the property awarded in accordance with his or her bid.
The Luxury Real Estate Auctions market analysis includes critical information such as global market size in both regional and country-specific terms, market share values, and an analysis of current trends. Emerging and high-growth global market segments; high-growth regions; market drivers, restraints, and opportunities. This research study contains a variety of analyses, including industry research and global market share analysis of major firms, as well as corporate profiles, all of which provide fundamental market opinions. Potential opportunities, sales and competitive landscape analysis, expected product releases, developed and in-progress technology developments, revenue and trade regulation studies, and other topics are covered in the research.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Suppliers of Luxury Real Estate Auctions, Luxury Real Estate Auctions Distributors, Government Bodies, End-Users and Others