FAQ

FREQUENTLY ASKED QUESTONS.

BUYER

WILL I BE ABLE TO SEE AND INSPECT THE PROPERTY?

Properties are available throughout the exposure period for potential bidders to preview and conduct inspections. Diligence is encouraged as all sales are “asis,” without contingencies. Terms and Conditions of Sale, Purchase Contract, and property documents are available on each property’s page on ConciergeAuctions.com.

DO YOU ACCEPT PRE-AUCTION OFFERS?

Yes. All offers received prior to auction are presented to the seller for consideration.

WHERE DOES THE AUCTION TAKE PLACE?

Bidders can participate in our auctions in from anywhere in the world. The auctions are conducted on our digital bidding marketplace, ConciergeAuctions.com. Bidders may also place bids over the phone with a dedicated bidder’s assistant.

I AM READY TO REGISTER TO BID. NOW WHAT?

You may register to bid via our online marketplace at ConciergeAuctions.com. Or, call us for personal service.

Our registration process has three steps:

1. Complete the Terms and Conditions of Sale. 2. Wire your Bidder Deposit, typically $100,000, which is credited towards your purchase if you are the winning bidder or is returned if you are not. 3. Provide a letter of reference from your bank or financial institution.

SELLER

HOW DOES THE AUCTION PROCESS WORK?

In conjunction with your agent, we showcase your property to targeted members of our global database of more than 680,000 individuals, including our Private Client Group of high-net-worth buyers, agents, and industry experts. The process typically results in 200–400 prospects, 25+ showings, and 3–7 qualified buyers competing for your property. Before the auction opens, you can decide whether to move forward after reviewing the field of bidders and their opening bids.

AREN’T AUCTIONS ONLY FOR DISTRESSED PROPERTIES?

No. Our typical seller is well capitalized. They choose auction to control the timing of their sale.

WHAT AUCTION FORMATS DO YOU USE?

We use two auction formats. 1) No Reserve: There is no minimum bid to purchase. 2) Reserve: Will sell at or above a pre-determined price threshold.

WHAT DOES IT COST? HOW DO YOU GET PAID?

We do not charge any fees to sellers. Our fee comes from a premium paid by the buyer. Sellers pay agent commissions as outlined in their listing agreement.

I AM READY TO AUCTION MY PROPERTY. NOW WHAT?

AGENT

WHAT HAPPENS TO THE LISTING AGREEMENT IF MY CLIENT CHOOSES TO AUCTION?

Your listing agreement remains 100% intact.

CAN I SPEAK WITH OTHER AGENTS WHO HAVE PARTICIPATED IN YOUR AUCTIONS?

Certainly. Visit ConciergeAuctions.com/Agents to see a list of agents with whom we have worked.

HOW CAN AGENTS EARN MONEY WITH CONCIERGE AUCTIONS?

There are five ways: Represent a seller. Represent a winning bidder. Refer a new listing agent. Receive seller or buyer referrals from Concierge Auctions. For more information visit ConciergeAuctionsReferral.com.

CAN I REPRESENT A BIDDER FOR AN AUCTION IN A LOCATION IN WHICH I AM NOT LICENSED?

Yes. If your bidder wins the auction, you will be paid the co-brokerage commission as a referral fee.

Learn more at: ConciergeAuctions.com/FAQ

The services referred to herein are not available to residents of any state where prohibited by applicable state law. Concierge Auctions, LLC, its agents and affiliates, broker partners, auctioneer, and sellers do not warrant or guarantee the accuracy or completeness of any information and shall have no liability for errors or omissions or inaccuracies under any circumstances in this or any other property listings or advertising, promotional or publicity statements and materials. This is not meant as a solicitation for listings. Brokers are protected and encouraged to participate. Equal Housing Opportunity. See Auction Terms and Conditions for full details.

Concierge Auctions, LLC is a marketing service provider for auctions, is not a licensed Real Estate broker, and possesses California Auctioneer’s Bond #62662376 and is a licensed Florida Real Estate Corporation (CQ1032600) and Auction Business (AB2760) — 800 Brazos Street, Suite 220, Austin, TX 78701; +1 (212) 202-2940. Licensed Auctioneer Frank Trunzo (CA Bond #511522). Licensed Auctioneer Frank Trunzo (#AU-C002842). All measurements, property corners, etc. to be verified by buyer to buyer’s full satisfaction. The services referred to herein are not available to residents of any state where prohibited by applicable state law. Concierge Auctions, LLC, its agents and affiliates, broker partners, auctioneer, and sellers do not warrant or guarantee the accuracy or completeness of any information and shall have no liability for errors or omissions or inaccuracies under any circumstances in this or any other property listings or advertising, promotional or publicity statements and materials. Concierge Auctions, LLC is a marketing service provider for auctions and is conducting the auction in connection with Asset Remarketing S. De R.L de C.V. — 777 S Flagler Drive, West Palm Beach, Florida 33401; +1 (212) 202-2940. This is not meant as a solicitation for listings. Brokers are protected and encouraged to participate. Equal Housing Opportunity. See Auction Terms and Conditions for full details.

©2008 Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Each Sotheby’s International Realty office is independently owned and operated. Neither Sotheby’s, Sotheby’s International Realty Affiliates LLC nor any of their affiliated companies is providing any product or service in connection with this auction event.

NEW YORK

405 LEXINGTON AVENUE, 26TH FLOOR NEW YORK, NY 10174

AUSTIN

800 BRAZOS STREET, SUITE 220 AND 240 AUSTIN, TX 78701

LONDON

BERKELEY SQUARE HOUSE, MAYFAIR, LONDON, W1J 6BD, UK

TORONTO

100 KING STREET WEST, STE 5600 TORONTO, ON, M5X 1C9, CA

ConciergeAuctions.com +1 212.390.0860 Inquiries@ConciergeAuctions.com

THE GLOBAL MARKETPLACE TO BUY AND SELL THE FINEST PROPERTIES

Concierge Auctions curates the most prestigious properties globally, matches them with qualified buyers, and facilitates transparent, market-driven transactions in an expedited timeframe. The firm owns arguably the most comprehensive and intelligent database of high-net-worth real estate buyers and sellers in the world. Concierge Auctions has contributed more than 200 homes to-date as part of its Key For Key® giving program in partnership with Giveback Homes™, which guarantees that for every property the company sells, a home will be built for a family in need.