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Grand Estates Auction Company

Mansions Go Under the Gavel - New York Times

An Excerpt From the August 7, 2009 issue of the New York Times

Stacy Kirk, who together with her mother co-founded Grand Estates Auction Company in 1999 to handle multimillion-dollar homes exclusively, said her business had grown to 30 homes last year, from 20 homes sold in 2005. “We have been receiving more inquiries from homeowners in the $1.5 million and up price range,” she said. “And we are talking to banks for the first time about whether we can help sell similarly priced homes that are headed for foreclosure.”

When Grand Estates sold a Nantucket home at auction in July, the price was $5.2 million, slightly less than the $5.4 million paid in 2004 by the owner, Paul C. Steinfurth, a real estate executive who lives in Miami. The proceeds covered his $3 million mortgage and the 6 percent cut, or $312,000, that went to the auction house.

Ms. Kirk, who heads Grand Estates, said that she used an absolute auction because “there are so many properties out there and to get the most number of buyers there, you need to sell absolute.”

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Testimonials

  • I recently heard two realtors complaining that the market was down over 65% this season, and to know that you broke the record with the highest sale in 2 years is commendable, but in this market it is amazing.

    - J. Eroncig, Aspen, CO
  • As a broker who had my client's home listed for 18 months, I was relieved to find a company to take on this very special property and expose it to as many buyers as possible. I am one broker who is very pleased to have my commission in such a short time.

    - R. Pinner, Lake Whitney, TX
  • Any questions we had along the way were always answered to the fullest by the Grand Estates staff, which only furthered my support and trust in the team. Everyone involved was professional and knowledgeable in representing our property at auction.

    - A. Goldstein, North Hampton, NH
  • We feel most importantly our success was due in large part to your particular auctioning skills and the exceptional sales skills of your staff. Thank you for everything - we are definitely happy sellers.

    - E. & S. Abramson, Vail, CO
  • I want to thank you for making the sale of my home such a success. I was deeply impressed with your skills, marketing and operations of your auction company. As a real estate agent and owner, your auction set a new standard for the Charleston market.

    - J. Near, Charleston, SC
  • Our sale has set a new standard for this area's market and our phone continues to ring with inquiries on how we were able to accomplish such a successful sale. My response has been and continues to be: hire experienced professionals like Grand Estates.

    - M. Reiswig, Arlington, TX
  • The biggest difference between Grand Estates and others is that they wait for something to happen and Grand Estates makes things happen.

    - S. & J. Epstein
  • Purchasing the St. Croix property has been one of the most positive experiences I have ever had. My instincts told me that I could trust you and your company and we would readily recommend you to our friends as a great way to buy or sell real estate.

    - Odis, St. Croix, USVI
  • From the inception of the auction agreement to the moment our house was sold, you and your staff were magnificent. Grand Estates moves quickly and efficiently, and everyone we dealt with was knowledgeable and informative. In short, you guys are pros.

    - R. D. Brewer, South Fork, CO
  • We are still in total shock. We had absolutely no idea our home would sell in the first four days of agreeing to work with Grand Estates Auction Company.

    - M. Gustin, Whitney, TX
  • As a real estate broker, I am speaking from experience when I rate your company as among the best I have ever encountered. After watching our show house languish on the market for 3 years, it was amazing to auction and close in just 12 days.

    - K. Weber
  • This is the third auction I have had the pleasure of working with you on and have found your firm to be extremely professional and so very well organized. Your honesty, integrity and credible reputation are beyond reproach.

    - L. Romano, Indian Rocks Beach, FL
  • Any seller who is seeking a means of selling luxury property in an expedient manner and is willing to accept the most competitive price the market can bear, I refer to Grand Estates Auction Company.

    - D. Laiacona, Savannah, GA
  • After meeting you on Summerland Key, I was introduced to the merits of a Grand Estates auction. I have discovered that not all luxury auction companies are the same. I was convinced of your superior service previously, but am even more so now!

    - L. Ferringo, Florida Keys
  • The Grand Estates process is by far superior to the more "traditional" approach to real estate sales. GEA attracts potential buyers from around the country and beyond, something we never would have been able to achieve with a traditional listing.

    - P. & D. Richardson, Whitefish, MT
  • What a sale! Grand Estates Auction Company came through with flying colors on all they promised. 80 or 90 clients previewed with 27 registered bidders! It was the talk of Lake Norman and had realtors shaking their heads at its success.

    - S. Carpenter, Lake Norman, NC
  • Through high quality marketing, a top-notch sales staff and your great attention to detail, you brought my wish to fruition and amazingly it took less than 60 days from the day I signed up.

    - E. Karesh, Mt. Pleasant, SC
  • In the end, your marketing and sales efforts paid off with a turnout better than either of us had hoped for, even during a quite difficult economic environment!

    - B. Atkins, Captiva, FL
  • I just wanted to write a quick thank you for the great success we had at our auction in Highlands. It was the worst of times for real estate there, but your team created a great turnout of bidders and got it accomplished.

    - J. Morris, Highlands, NC
  • The fact that we had 21 bidders from 12 states on our auction day is a testament to the effectiveness of your marketing, and the fact that the winning bidder bought the house for cash shows your skill in getting buyers to act now!

    - K. & B. O'Brien, Savannah, GA
  • I enjoyed my first experience with Grand Estates tremendously and I found the auction process to be very innovative and exciting. Both myself as the buyer's broker and my clients were treated with the highest standards of professionalism.

    - L. Mackarous, Montreal, QC
  • We are amazed at the number of showings that took place in such a short period of time. No stone was unturned and your marketing strategy was excellent.

    - B. Boyd, Charlotte, NC
  • After discussing this house on the telephone with you, we knew we just had to have it. So, we went ahead and bought it sight unseen. To say that it was everything you said it was is an understatement. It is magnificent.

    - J. & C. Sansom, Naples, FL
  • From the initial marketing of the property to the final day of auction, Grand Estates' approach to the selling of the home was unique, professional and unprecedented.

    - M. Horton, Badin Lake, NC
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