Our Cover Home will be Auctioned Thursday, April 26
Let the Bidding Begin. The home on the cover of our Spring 2012 issue is set for auction.
On 12.47 gated, pastoral acres with distant ocean views, One Pelican Hill Road is the largest private estate parcel available in Newport Coast, Calif.
“The typical nice large home in Newport Coast usually does not have more than an acre of land and most have less than half an acre,” says Michelle Queyrel of HÔM Real Estate Group at Sotheby’s International Realty, who is representing the property with Rob Giem. “This compound has a level of privacy you can’t get anywhere, yet you are within a mile or two from the water.”
Sheer size is just the tip of the iceberg when it comes to the distinguished attributes of this versatile estate. With a wine cave in the private vineyard, a 15-person movie theater, and a 15-car subterranean garage including an area for limousines, a showcase room, and its own powder room, the compound is a paradise for entertainers. As the only equestrian-approved property in Newport Coast, with a stable and a horse ring, it is also a solace for horse lovers.
Overlooking the private, stocked lake, the 17,706-square-foot authentic Tuscan villa indulges occupants at every turn, with luxuries such as $200,000 of Clive Christian cabinetry on the “hers” side of the master bedroom closet.
The estate’s widespread appeal should generate a notable level of interest when it is auctioned to the public this April. By setting no minimum opening bid, the listing agents seek to reach a diverse pool of buyers who will be enticed by the unique opportunity to purchase this estate at significantly below replacement cost. “Luxury auctions provide another platform of opportunity with a predictable sale date,” says Tom Iovenitti, executive vice president of Auction.com’s luxury homes division. “This property just needs that person with the passion to finish it and enjoy it.”
The person with that passion now will be able to bid on One Pelican Hill Road during a live and online auction April 26 hosted by Auction.com. The property was last offered by Giem and Queyrel for $37 million.