Six bidders, live music, drinks and hors d'oeuvres... That's the recipe for successfully selling a condo at auction. Better not have too many drinks if you don't have the cool million in the bank to cover the check. Auctions have a way of separating you from your money.
Beach Condominium Sells in J.P. King Auction for $1,017,500
ORANGE BEACH, Ala.--(BUSINESS WIRE)--A custom-built two-story beachfront condominium in Orange Beach sold for $1,017,500 Saturday, Dec. 16, with J.P. King Auction Company managing the sale.
More than 35 people - including six registered bidders - gathered at the Perdido Beach resort for the auction, listening to live music and enjoying hors d' oeuvres as the auction hour approached.
Purchasing the condominium was Jim Hubbard, of Crestview Properties LLC, of Birmingham, Ala.
"People keep saying it's difficult to sell real estate along the gulf coast, but we continue to find that using the auction method for a high-value property enables us to draw buyers from a wider geographic area. We had six people who brought a cashier's check of $25,000 just to register for the sale," said Craig King, president of J.P. King.
The condominium is located in the Phoenix VIII development but was built to its own specifications from the ground up, with four bedrooms and such high-end features as 10-foot ceilings and Travertine marble flooring.
Individuals interested in additional information about the condominium may contact J.P. King at 800.558.5464 or visit the company's web site at www.jpking.com.
J.P. King, headquartered in Gadsden, Ala., is the nation's leading auction marketing firm, with recent sales including 40 condominiums in Tampa Bay as well as condominium units in Austin, Texas, and Fish Creek, Iowa. Other recent sales have included mansions in Ponte Vedra and St. Augustine as well as Oregon, Michigan and Colorado.