Real estate auction company Concierge Auctions is expanding its reach to China, a response to the increasing participation from Chinese buyers during auctions based elsewhere.
“Sellers are attracted to the depth and reach of our database, and our ability to bring an extraordinary level of focus to every property we represent. On the heels of our expansion to Europe last year, this reach to China is a natural evolution of our global presence,” said Concierge Auctions Chairman Chad Roffers in a statement.
“We’ve seen a substantial uptick in Chinese buyers participating in our auctions, and we know the investment we’re making in this initiative will be a significant advantage to our clients.”
The China Portfolio Sale, which is marketed in partnership with The Wall Street Journal and Mansion Global, will take place June 28–29, and buyers from across the globe will be able to bid in real time on a number of luxury properties directly from the Concierge Auctions app.
The brokerage is currently looking for additional properties to include in the auction. The property requirements are:
- An ultra-luxury price point
- Move-in ready and/or furnished
- Branded properties, such as Four Seasons Residences and The Ritz-Carlton Residences
- Amenities that appeal specifically to Chinese buyers are a plus, such as gardens, pools, storage, in-house facilities, indoor garages and sports facilities
Each home that is accepted for inclusion will be available for preview for four weeks prior to the auction.
“The Wall Street Journal and Mansion Global are thrilled to partner with Concierge Auctions to provide our Chinese audience of high net worth buyers with access to their distinct portfolio of the world’s finest luxury properties,” said Luke Bahrenburg, associate publisher and global sales director at Dow Jones in a press release.
“Chinese interest in overseas property is no secret and we expect this targeted initiative to yield great benefits for both the Concierge Auctions brand and their global customer base.”
In addition to the June auction, Concierge Auctions host a custom launch events in Shanghai and Guangzhou on May 22–25, and an invitation-only luxury property showcase in Beijing on June 16–18.