Platinum Luxury Auctions Reports Closing 2013 With Corporate and Client Records

Following Robust December, Firm Anticipates Sales Growth in 2014

PR Newswire

MIAMI, Jan. 15, 2014 /PRNewswire/ -- Platinum Luxury Auctions, a nationally prominent auction firm headquartered in Miami and specializing in the sale of unique and distinguished properties, is pleased to report higher than average sales in December, closing out its 2013 business year on a high note. In fact, the firm is reporting a company record for the month of December with approximately $11 million in sales. To date, Platinum's associates have closed more than $315 million in luxury real estate auction sales and have consulted on more than $1.25 billion in additional luxury auction properties.

"Although $11 million in monthly sales is not groundbreaking for us, it's the fact these sales were achieved in December that is significant," said Trayor Lesnock, Platinum's president and founder. "Typically, December is a slower month for us in terms of actual sales, as we're usually busy gearing up for the January/February business cycle rather than closing out current auctions."

In the process of delivering its record December, Platinum also achieved various sales records on behalf of its clients. These included: the $5.5 million auction sale of a Miami Beach condominium, ranking as the 2nd highest all-time price within its development; the $5.3 million direct sale of a Coral Gables estate, also the 2nd highest sale within its community in two years; and a $3.4 million pre-auction contract for a Wellington equestrian estate, which would have produced an all-time price record for its community, nearly doubling the previous price record, (the Wellington contract, however, was declined in favor of a rescheduled Platinum auction in March, 2014).

As the firm's sales have steadily increased, Platinum believes a number of factors are at play. First, the firm has increased its geographic reach, growing from a company primarily focused in the Southeastern United States into an international auction service provider. To be sure, Platinum has conducted luxury auction programs in areas such as Florida, Colorado, California, North Carolina, Costa Rica, and the Dominican Republic. Second, there has been a noticeable increase in both buyer and seller confidence in the luxury real estate marketplace. According to Lesnock, this confidence is a cyclical feedback loop: the confidence of the luxury buyers (that is, their renewed willingness to purchase high-priced properties) provides sellers with the confidence to offer their properties to these buyers under the luxury auction platform. 

Platinum anticipates their total luxury auction volume could double in 2014. A large contributor to this growth projection is the fact that the company has continued to strengthen its ties to the luxury real estate brokerage community, securing auction service agreements with some of the world's most prominent luxury brokerage organizations. Lesnock is optimistic these new relationships will play in Platinum's favor, citing the importance of partnering with brokerages as evidenced by the fact that the firm teamed with listing agent Tara West of Park Miami Realty for its Miami Beach sale, and with Matt Johnson of Illustrated Properties for its Wellington auction. "We expect to open 2014 with $12-20 million in auction listings, and we could reach $25-30 million by March," he added.

For additional information about the firm's services or any of their current auction listings, contact Platinum at 800-262-5132 or by email at inquire@platinumluxuryauctions.com.

About Platinum Luxury Auctions
Platinum Luxury Auctions is a nationally prominent auction firm headquartered in Miami and specializing in the sale of unique and distinguished properties. The firm's principals have closed more than $315 million in luxury real estate auction sales, and have advised or consulted on nearly $1.25 billion in additional luxury auction properties.

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