Even a famed Texas auctioneer Spanky Assiter accustomed to big spreads and big prices couldn’t prompt a sale of a luxurious brick home on Hollow Ridge Road in New Castle Thursday afternoon.
A long-anticipated open-to-the-public auction by AmeriBid did not net a buyer—at least not immediately. An opening bid of $6 million went unanswered, as did calls for $5 million, $5.5 million and then $4 million.
“Sometimes people are put off by an auction, sometimes it spurs them on. You can’t know ahead of time,” said Stephen Karbelk, founder of AmeriBids, the South Carolina company that handled the auction and its marketing. He said his company sells 93 percent of the properties they put up for auction and one third of those deals are concluded after the auction. AmeriBids closed more than 175,000 real estate transactions across the all 50 states, according to its own statistics.
So he seemed confident that offers would be coming his way to forward to the home’s owners Dominic and Carol Ferrovecchio, who have moved to North Carolina and he said were motivated to sell.
This auction was a privately run auction and different than ones done for foreclosed or distressed properties sold by a bank or municipality. These private auctions have been gaining in popularity of late as sellers search for unique and different ways to market their homes.
Dominic Ferrovecchio was the developer of the Old Iron Estates subdivision off Mount Kisco Road/Route 128 near the Armonk/Mount Kisco border where this home is located. The house is described as the “builder’s home” with many premium upgrades. The family lived in the 5 bedroom, 5-and-a-half bathroom home since it was finished roughly seven years ago.
The sellers were not present at the auction and AmeriBid representatives said he declined to comment.
There is no doubt this home has plenty of splashy features. Just to name some: Its master bedroom features a massive walk-in closet, the large soaking tub takes in the expansive gardens of the 22.8-acre property and the kitchen has chef-like gourmet appliances and warm-toned granite counters.
And there is a guest house, in-ground pool and what most houses don’t have—a 16-car garage with a hydraulic lift.
“This is a lavish, one-of-a-kind home,” auctioneer Tom “Spanky” Assiter said in his southern tone, noting that the gardens were particularly wonderful, especially to anyone from Texas who is experiencing a drought.
And the garage, he added, could hold plenty of motorcycles.
“That’s a lot of Harley Davidsons,” Assiter quipped, adding that he had to get an explanation of what Bocce was since the house has its own court as well.
In keeping with his trademark, he balanced his eye glasses on his forehead.
Assiter is one the nation’s most popular and well-respected auctioneers. He is considered the face of the Barrett-Jackson collector car auctions and known around the world for his loud, clear spiel that gets everyone pumped up and ready to raise their hands.
As the rain clouds paused Thursday around 1 p.m. more than a dozen realtors from Keller Williams of Yorktown, which had the listing for 23 Hollow Ridge Road for the last six weeks, joined buyers, some of whom attended with their agents.
Listing agent Pamela Testa marveled at the house.
“It is nicely done and has very special details,” Testa said inviting everyone to look around and ask questions. She said she has done six public open houses and that the auction provides another avenue to bringing buyers into the home.
The annual property tax bill on the property is currently $70,000.
“An auction is a good way to market a property that is unique,” said T. Randolph Ligon, regional director of AmeriBids. “It brings out buyers who are seeking opportunity. And the sellers feel they have exposed their property to the market in an aggressive way.”
There were 32 prospective bidders who registered by sending in $100,000 deposit in certified funds and agreed to a closing in 30 days. There are no conditions in the sale and the property is sold as-is regardless of inspections, appraisals and financing.
There is still time to make an offer.
To view a video of the house, go to this link
And go here to see what AmeriBid is all about. Among other projects,the company worked with the New Orleans Redevelopment Authority (NORA) to sell 135 homes and lots to aid in the reconstruction efforts of the Louisiana community.