We know that our Maple Avenue-based Heritage Auctions is the undisputed leader in the online luxury auction business — the best place to buy art, jewelry, furnishings, handbags, books, manuscripts, wine … just about anything. They now have offices all over the world, and I do believe they have even surpassed Sotheby’s. Heritage Auctions is the largest collectibles auctioneer, the third largest auction house in the world, and the largest auction house founded in the US.
And it all started right here in Dallas in 1976.
We know, too, that Heritage is in the real estate auction business and, in fact, successfully sold off the O’Neil Ford-designed Penson estate on Armstrong Parkway last year for $4.950M. Honda honcho Lute Riley bought the house and then tore it all down. They sold former Dallas Mayor Tom Leppert’s Park City ski house for $4.2M, among many others.
Now comes a new division within Heritage Real Estate Auctions: The Executive Platform. The EP program will focus on moving middle priced properties, from $500,000 up to $2 million, with speed, transparency, and vetting.
“Our objective is, frankly, to disrupt the market in this active price range,” says Nate Schar, Heritage’s category director “Real Estate agents will be fully engaged and compensated. I think they are going to love the bandwidth we are able to provide for these properties given our vast database.”
Here’s the brilliant part: (more…)