Auctions of the rich and famous: Grand Estates Auction Co. will sell your million-dollar property, but not everyone thinks auctions are the best way to go
By Sam Boykin Looking for a nice beach getaway? Then you should head down to Wadmalaw Island, S.C., near Charleston next month where there’s going to be an auction for a three-story, 6,800-square-foot luxury home situated on 12 pristine acres along South Carolina’s central coast. And you better bring your wallet. There’s a $75,000 entry fee just to bid on the house, which also has a state-of-the-art gym and nine-car garage. As far as the asking price, that’s going to be dictated by the bidders, but you can be sure it’ll be well north of $1 million. Seems like a Lifestyles of the Rich and Famous fantasy, doesn’t it? But for Scott Kirk, the 28-year-old senior vice president of Grand Estates Auction Co., it’s just another day at the office. The north Charlotte firm markets and auctions luxury real estate throughout North America and the Caribbean. The company specializes in “absolute auctions,” which require no set starting bid and award multimillion-dollar homes to the highest bidder. Grand Estates Auction has about 18 employees and offices in Vail, Colo.; Atlanta; Dallas; and Naples, Fla.