Black tie meets auction gavel.

Black tie meets auction gavel 

A global real estate firm, Island Homes New York, Inc., and a prominent fine arts auction house, Habsburg, have formed a partnership to offer luxury New York real estate to international buyers in an unprecedented manner.

The first "black tie" luxury auction event is planned for late September in New York, with details to be announced shortly, according to Rana Rutherford, president of Island Homes.

"Through Island Homes' interlocking network of offices throughout the orient and the world, we will be contacting buyers of luxury real estate on three continents, while simultaneously presenting our luxury properties to international fine arts buyers with proven track records of financial ability," stated Rutherford. "Our partnership has created an exciting new mechanism to market prime New York property."

With offices in nine countries, Habsburg presently conducts fine arts auctions in Geneva, Hong Kong, Tokyo and New York. It reaches upscale buyers ideally suited to the calibre of luxury real estate to be offered. Habsburg's numerous achievements include the sale of a Patek Philippe pocket watch -- for a record $3.1 million.

The global network of Island Homes, headquartered in Tokyo, with offices in Hong Kong, Taipei, Honolulu, Los Angeles, New York, Vancouver, London and shortly Paris, enables the firm to personally bring properties to the attention of prominent buyers throughout the world.

To promote their luxury auction events, Island Homes and Habsburg have carefully designed an advertising and promotional campaign to reach the most prominent and capable buyers on three continents. Properties will be presented in elegant four color brochures, which will also be sent to a worldwide VIP list of distinguished fine arts and real estate buyers. Auction advertisements will appear in prestigious international magazines and leading newspapers.

As part of its services, Island Homes will prepare a comprehensive Bidders Package for each property, and will also offer interested buyers a personal by-appointment-only consultation to discuss current market conditions and the dynamics of the luxury auction process.

According to Rutherford, all properties will be cobrokered to the entire New York real estate community. Pricing will be similar to a fine arts auction.

"We will set a Suggested Minimum Bid and a lower Confidential Reserve Price, which is put at the level at which we believe the property could sell in the open market within four weeks," she stated.

All prospective buyers will be prequalified and carefully reviewed by both Island Homes and Habsburg and must preregister for the luxury auction event.