FAQ

FREQUENTLY ASKED QUESTIONS

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 800,000 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 starting 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? We are solely focused on luxury properties. Call us, or have your agent call us, to discuss your property.

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 “as-is,” without contingencies. Terms and Conditions of Sale, Purchase Contract, and property documents are available on each property’s page on casothebys.com.

WHERE DOES THE AUCTION TAKE PLACE? Bidders can participate in our auctions from anywhere in the world. The auctions are conducted on our digital bidding marketplace, casothebys.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 casothebys.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.

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 casothebys.com/agents to see a list of agents with whom we have worked.

HOW CAN AGENTS EARN MONEY WITH SOTHEBY’S CONCIERGE AUCTIONS? There are five ways: Represent a seller. Represent a winning bidder. Refer a new listing agent. Receive seller or buyer referrals from Sotheby’s Concierge Auctions. For more information visit casothebysreferral.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, your broker will be paid the co-brokerage commission as a referral fee.

Learn more at: casothebys.com/faq

Concierge Auctions, LLC, dba Sotheby’s Concierge Auctions, is an auctioneer. Sotheby’s Concierge Auctions’ principal address is 650 Madison Avenue, 2nd Floor, New York, NY 10022, and its phone number is (212) 202-2940. If required, Sotheby’s Concierge Auctions (or its representative) is registered, licensed and/or bonded in the state where the property to be auctioned is located.

Our registration, licenses and bond information for California is: Sotheby’s Concierge Auctions, Bond #66346347; Frank Trunzo, Bond #E252623; Concierge International Real Estate, Inc., Broker, (License #02137467), 315 Montgomery St. 10th Floor San Francisco, CA 94104, Telephone: (212) 202-2940, Real Estate Broker: Barbara J Young (License #00689235); Our registration, licenses and bond information for Colorado is: Sotheby’s Concierge Auctions, Broker, (License #EC.100032451), 900 East Union Avenue Suite 1100 Denver, CO 80237, Telephone: (212) 202-2940, Real Estate Broker: Tony Young (License #ER.100094056); Our registration, licenses and bond information for Hawaii is: Sotheby’s Concierge Auctions, Bond #107388494 and #83BSBGP6036, Sotheby’s Concierge Auctions, Broker, (License #RB-23427), 500 Ala Moana Blvd. Suite 7-400 (Suite 464) Honolulu, HI 96813, Telephone: (212) 202-2940, Real Estate Broker: Tony R Young (License #RB-23428); Our registration, licenses and bond information for Utah is: Concierge International Real Estate, Inc., Broker, (License #12432014-CN0012), 650 Madison Avenue 2nd Floor New York, NY 10022, Telephone: (212) 202-2940; Tony Young (License #12429737-PB00); Our registration, licenses and bond information for Washington is: Sotheby’s Concierge Auctions, Auction Firm License #2393, Bond #AG001057; Frank Trunzo, Auctioneer, License #2950, Bond #RSB4176987; Sotheby’s Concierge Auctions, Broker, (License #20119781), 400 Union Avenue SE Suite 200 Olympia, WA 98501, Telephone: (212) 202-2940; Barbara J Young (License #17277).

These properties are listed for sale by Kaminsky Real Estate Group, exp Realty, Broker, License #01878277, 440 Pacific Coast Highway, Hermosa Beach, CA 90254, 310.427.2414, Ed Kaminsky, License #00958114, (“Listing Agent”); Compass Colorado, LLC, Broker, License #EC100068446, 200 Columbine St, Denver, CO 80206-4736; (303) 536-1786; Stephanie L Iannone, License #EA40029440, (“Listing Agent”); Inhabit Real Estate, Broker, License #201208444, 3121 SE Division St, Portland OR 97202, 503-789-1699, Patrick Clark, License #200303117, (“Listing Agent”) and LUXE Forbes Global Properties, Broker, License #201201079, 707 NW 11th Ave, Portland OR 97209, 503-459-3987, Terry R Sprague, License #200509281, (“Listing Agent”); Sotheby’s Kitsbuhel, Broker, Josef-Pirchl-Straße 2, 6370 Kitzbühel, Austria, +43 5356 20702, Anja Hübner, (“Listing Agent”). Hawaii Life Real Estate Services dba Hawaii Life, Broker, License #RB-19928, 5-4280 Kuhio Hwy #G203, Princeville, HI, 96722, (800) 370-3848; Carrie Nicholson, License #RB-19302, (“Listing Agent”) and Kenneth Springer, License #RS-57584, (“Listing Agent”); Keller Williams Utah Realtors, Broker, License #5505636-CNOO, 7410 S Creek Road, Ste 301, Sandy, UT, 84093; 801-858-3100, Stephanie Valdez, License #10494973-SA00, (“Listing Agent”); Hawaii Life Real Estate Brokers dba Hawaii Life, Broker, License #RB-19928, 5-4280 Kuhio Hwy #G203, Princeville, HI, 96722, (800) 370-3848, David Richardson, License #RB-10780, (“Listing Agent”); The Agency Seattle, Broker, License #24915, 123 Lake Street South, Suite 123B, Kirkland, WA 98033, 425-296-8111, Jen Cameron, License #24915, (“Listing Agent”), and James Campbell, (License #20114122), (“Listing Agent”); Como Relocation Services, Broker, Via Colombo 6D, 22010 Moltrasio (CO), Telephone: +39.338.8738432, Alessia Bagni, (“Listing Agent”); The Viewing Real Estate Limited, Broker, #09926451, Penrose, New Inn Lane, Shrawley, Worcester, England, WR6 6TE, Telephone: +44 7900 247 988, Gemma Bruce, (“Listing Agent”); Riviera Maya Sotheby’s International Realty, Broker, License #2113170F0BBBMR008000075, 5th Avenue and 34th, Bosque de los Aluxes, Playa Del Carmen, Quintana Roo 77710, Mexico, Telephone: +52 (984) 803.3036, Verónica Córdova, License #CODV701120RT6FS008000081, (“Listing Agent”); Luxury 778, Kantonsstrasse 19, 3930 Visp, Switzerland, +41 27 778 10 00, [Daniel Ittig, (“Listing Agent”).

Sotheby’s Concierge Auctions (in certain jurisdictions) and certain Sotheby’s Concierge Auctions subsidiaries, employees, and representatives may possess real estate broker or salesperson licenses in various jurisdictions and may, in some circumstances, perform functions that may be deemed brokerage services, neither Sotheby’s Concierge Auctions nor its agents, employees, and affiliates are acting as a broker in any capacity for any party in connection with this auction. Bidders must seek brokerage services or advice from their own real estate agents or professional advisers. Our brokerage licenses are held solely for compliance purposes to further our auctioneering services.

Sotheby’s Concierge Auctions, the Listing Agent, the seller of the property and their respective agents, employees, and affiliates do not represent, warrant, or guarantee the accuracy or completeness of any information and shall have no liability for errors or omissions under any circumstances in this or any other property listings or advertising, promotional or publicity statements, and materials.