A luxury equestrian estate near Calgary, Canada, has sold for nearly $C4 million.
The property near Spruce Meadows went under contract following a live auction, according to New York-based luxury real estate auction firm Concierge Auctions, with local media putting the price at $C3.75 million.
The property, Blue Valley Farms, is a 45-acre equestrian training compound 25 minutes from downtown Calgary and a few minutes from Spruce Meadows.
Property features include a 6428-square-foot indoor riding arena, a 30,000-square-foot outdoor arena, 25 horse stalls, five large fields with shelters and 12 outdoor paddocks.
Additionally, an eight-car garage and workshop offer generous storage and a four-bedroom bungalow is available for an on-site manager.
“The main challenge when we started marketing the auction was that Canadian agents and brokers weren’t familiar with the process and didn’t understand why a seller would choose to auction,” said Mark Evernden, who had the exclusive listing with Sotheby’s International Realty Canada.
“We were able to educate them on the fact that participation is quite simple and that sellers, buyers and agents all benefit from the ease of the transaction and set timeline.”
Concierge Auctions’ marketing campaign generated more than 5000 website visits from 77 countries, led by the US, Canada, Britain, Australia, and Germany. There were 51 visitors to open homes and 10 bidders were qualified to compete in the auction.