Introducing the Diamond Villa. Situated on one of the many scenic Croatian islands in the Adriatic, this estate conveys modish opulence in a natural landscape seemingly untouched by time.
This property is marketed by Concierge Auctions and will list as a no reserve auction property, wherein buyers will have the opportunity to bid at no set or expected opening bid virtually from anywhere in the world through the firm’s online auction platform.
- Where: Diamond Villa—Korčula, Croatia
- List Price: $4.9 million
- Features: 3,875 square-feet compound that includes two villas, 5 bed, 7 bath
- Added Appeal: Multi-level terrace with two infinity-edge pools overlooking the Adriatic Sea
RISMedia spoke with Antoni Barići of Move Croatia, the estate’s listing agent, who shared with us insight into the bidding process, standout features and informative aspects of global marketing strategy being used in this stellar sell.
Joey Macari: What makes this a “Great Space”?
Antoni Barići: The Diamond Villa is unlike any other property in Korčula, Croatia. Its dramatic modern design, features and amenities are breathtaking. Starting with its location, the compound arises seemingly out of the hills providing serene Adriatic sea views. Its contemporary architecture further sets it apart, along with its minimalist, indoor-outdoor design that blends seamlessly into its surroundings. In addition, it offers two luxurious villas that span three levels, giving the buyer and their guests the utmost privacy. Walls of glass open to the terrace for incredible flow and grand entertaining.
The multi-level terrace offers two infinity-edge pools and outdoor spaces with barbecue areas and dining areas. The island of Korčula is known for its natural beauty, vineyards, Michelin-starred food and rich culture. Korčula has some of the most beautiful beaches in the Adriatic: Bacva for snorkeling and swimming, Vela Przina for soft sand and proximity to wineries and Pupnatska Luka for a hidden gem between the forest and the sea. In fact, legend has it that Marco Polo was born here so one can walk in the footsteps of the explorer in Korčula’s charming old town. This villa and Korčula is a place to unwind and find one’s center, while it is still just minutes from Korčula town, the ferry terminal and the marina.
JM: An estate of this size given its listed price is incredible. How do you figure that number comparatively to other properties of this scale? How would rental potential factor in?
AB: The rental potential for the Diamond Villa is enormous due to its exclusivity, unique location, private surroundings and architecture. There are very few properties of this scale in Croatia.
JM: On such a massive global scale, how do you build exposure and attract buyers for luxury properties like this?
AB: Working with Concierge Auctions, especially for such a rare and luxury property as Diamond Villa, provides extensive global exposure: Concierge Auctions has grown its global activity to 32 countries and continues to expand its expansive, targeted database of high-net-worth real estate buyers, sellers, agent representatives and investors—to more than 775,000 contacts, including 3,500 billionaires, 10,000 private clients and 110,000 weekly subscribers. Together with our marketing and PR teams, our targeted marketing provides direct exposure to those most likely to become potential buyers.
JM: What kind of social media strategies are most effective for properties like this?
AB: Marketing is paramount for ultra-luxury properties such as this. Concierge Auctions’ extensive marketing campaign amplifies exposure of its high-end properties. The company’s social media strategies via Facebook, Instagram and Twitter featuring stunning images of Concierge Auctions’ exquisite properties draw further awareness globally to high-net-worth buyers.
JM: What are some of the advantages of an online auction marketplace for real estate?
AB: The first 90 days are crucial for a luxury property on the market, such as this. Concierge Auctions prides itself on delivering results in 60 days for properties selling for $10M to $100M, or more—that timeline has its own value. The key value proposition for buyers is total transparency that they are paying a fair market-driven price with each bid just one step above the last in real time. They name the price via a straightforward and transparent bidding process, with a smooth, simple transaction. Sellers control the timing and terms of the sale with a transaction generated within 60 days, as well as gaining global exposure with targeted marketing, PR and sales campaign and access to an industry-leading database. Concierge’s agent partners benefit from the activation of qualified bidders, access to award-winning co-branded marketing and on-site sales support with protected commissions.
JM: What is the bidding process like and what is the ideal scenario for a property like this?
AB: The bidding process has three steps: 1) Interested buyers complete and submit the terms and conditions of sale; 2) Wire a bidder deposit, typically $100,000, which is credited towards the purchase if they are the winning bidder, or it is returned the following business day if the bidder is not.; 3) Provide a letter of reference from one’s bank or financial institution. The ideal scenario is for the home to be sold in the shortest period of time for the highest possible price on that given day.
Joey Macari is RISMedia’s associate editor. Email her your real estate news ideas, firstname.lastname@example.org.