22 Sep Okanagan’s Luxury Orchard Estate Breaks Off-the-Lake Record of $5.5M with a Final Price of $6.3M
On September 22, the 35-acre Harvest Ridge Luxury Orchard Estate was sold at live auction for a record hammer price of $5,775,000 and the final price before tax was $6,315,000 by The Garage Sale Luxury Auction House. The sale set a new record for the highest price paid for an off-the-lake property listed in the Okanagan. The auction was held on the property at the 5,900-square-foot home located in East Kelowna and had 10 registered bidders – a fantastic representation for a live, unreserved auction requiring pre-qualified buyers.
The live auction at Harvest Ridge Luxury Orchard Estate in Kelowna, British Columbia.
In addition to the event’s 10 registered bidders, more than 150 people from across Canada and the United States attended to experience the excitement of the auction.
“We’re thrilled with the success of the auction. We sold the luxury estate in 63 days and set a record price for an off-the-lake estate in the Okanagan,” said Alex Lambert, CEO of The Garage Sale Luxury Auction House. “Our auction method is an effective call-to-action that attracted a competitive group of qualified bidders locally and internationally. The sellers are excited about the exceptional results and can now move on with the next chapter of their lives. The Garage Sale will roll out the red carpet for the new owner and ensure a 30-day closing,” added Lambert.
The property had previously been on the market for 10 months. In early summer, the owners selected The Garage Sale to market and auction their home. Harvest Ridge Estate qualified for the Elite Auction Model which offers a tailored program including international marketing campaigns, bidder qualification and exclusive hosted events. The Garage Sale’s Auction Model ensures streamlined and transparent results within a fixed timeframe, maximizing value for the seller and ensuring buyer satisfaction.
Okanagan off the lake estates and farms of this caliber valued over $4 million are sold, on average, once every two-to-three years and generally attract buyers interested in farming or those with a passion for the great outdoors, looking for a restful retreat or vacation home.
Over an eight-week period The Garage Sale had more than 150 inquiries and over 60 hosted viewings. There were 10 bidders who provided a participation deposit and received a detailed registration package with the option of a private tour or Live-In Viewing, an exclusive service where registered bidders stay on-site at Harvest Ridge Estate with access to a personal chef and hostess so they can experience life on the orchard.
Notably, The Garage Sale also featured a community-impact initiative – a charity auction raising nearly $60,000 for The BC and Yukon Chapter of The Children’s Wish Foundation of Canada. Guests were invited to bid on exclusive items and experiential packages from elite partners to benefit the charity, which helps Canadian children, families and communities by granting the heartfelt wish of a child diagnosed with a life-threatening illness. The estate’s sellers handpicked Children’s Wish in hopes that the property’s sale would uplift a family experiencing hardship.
“We want to thank The Garage Sale and all the guests for their generous bids at the charity auction, which will support families in need through the Children’s Wish Foundation,” Jennifer Petersen, Provincial Director of Children’s Wish. “It’s heart-warming to know that multiple kids got their wishes granted today.”
The private estate includes a five-bedroom and five-bathroom contemporary home with a 54’ outdoor pool, tennis court, four-car garage and a sprawling orchard made up of 8,200 mature cherry, apple, and pear trees. The 35-acre farm is also part of the Agricultural Land Reserve (ALR) — a B.C. program that, among a list of compelling value-adds, includes tax benefits, expansion options, and easy succession planning.
About The Garage Sale Luxury Auction House
The Garage Sale Luxury Auction House has refined the most effective elements of the auction platform to meet the needs of today’s real estate market. Our team of professionals ensures streamlined and transparent results within a fixed timeframe, maximizing value for the seller and ensuring buyer satisfaction. The Garage Sale offers three dynamic auction models designed to navigate changing market conditions and diversity in asset class. These models give the seller flexibility and the buyer unrestricted capacity to bid to their maximum potential. The Auction Luxury House is also dedicated to pairing world-class services with strategic and meaningful charitable contributions. Since 2009, The Garage Sale charity auction platform has generated over $1 million for non-profit charities through our auctions. For more information visit luxuryauctionhouse.com.
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