Concierge Auctions is teaming up with Italy Sotheby’s International Realty in a deal that should give both companies greater access to each other’s markets, it was announced on Monday.
The new alliance will make Concierge Auctions the “preferred auction provider” of Italy Sotheby’s, according to a statement from the companies. At the same time, Italy Sotheby’s will become Concierge Auctions “main reference for the Italian market.”
Both Concierge Auctions and Italy Sotheby’s focus on the luxury end of the market.
Lodovico Pignatti Morano, a managing partner at Italy Sotheby’s, further explained that his company’s agents will now have access to Concierge Auctions platform, giving them a “time-certain solution to clients in the buying and selling of the world’s most distinctive properties.”
“Concierge Auctions is a groundbreaking force, with the largest footprint in international property auctions and over a decade of proven success in the high-end sector,” Morano added in the statement.
In an email to Inman after this story was initially published, a spokesperson for Concierge Auctions said that “Italy is one of the most sought after destinations in Europe, and with a number of successful and notable sales in the country already, we are sure it will become one of the most important destinations for us too.”
The companies provided few other details. When asked how many Italian properties Concierge Auctions might handle, the company declined to provide an estimate, saying instead that agents would use the auction platform when the “solution fit the need.”
However, Concierge Auctions’ European advisor Charlie Smith described the partnership as “a transformation of the home buying experience for both buyers and sellers of high-end Italian properties.”
“We’ve made a strategic decision to align with this esteemed brand, known for a tradition of utmost excellence for the most distinguished properties in Italy and throughout Europe,” Smith continued in the statement.
Concierge Auctions was founded in 2008 and in a statement described itself as “the largest luxury real estate marketplace in the world.” The company operates in 40 U.S. states and 27 countries, and focuses exclusively on “the most prestigious properties globally.”
Italy Sotheby’s International Realty is the largest luxury real estate firm in its home country. The company maintains offices in Rome, Milan, Venice and other Italian cities, both large and small.
In his statement, Smith expressed excitement about teaming up with the Italian company.
“We’ve made a strategic decision to align with this esteemed brand, known for a tradition of utmost excellence for the most distinguished properties in Italy and throughout Europe,” he said.
Update: This post was updated with additional information that Concierge Auctions sent to Inman after publication.
How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!
Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.