Platinum Luxury Auctions Announces Two June Auctions in U.S. Virgin Islands

Platinum Luxury Auctions is a highly specialized marketing and auction firm, with a focus on the non-distressed sale of multimillion-dollar properties within and beyond the United States. The Platinum team has closed more than $387 million in luxury real estate auction sales, and has consulted on more than $1.35 billion in additional luxury properties. Platinum is responsible for developing the luxury auctionSM concept for the real estate auction industry.

Platinum will first offer an oceanfront estate located in the heart of world famous Magens Bay on the island of St. Thomas. The 15,000-square-foot property will be sold at or above the auction’s reserve price of $5 million. Although the residence has not spent much time on the market, it was listed for sale prior to the auction for a price of $14.9 million, which included two adjacent, vacant parcels that will not be offered at the auction.

The property will be sold in cooperation with listing agent Lee Steiner, president of USVI Sotheby’s International Realty. In December 2014, Steiner and Platinum collaborated to sell a property within St. Thomas’s Botany Bay community for nearly $9 million, creating an all-time record sale price for the entire island. Following the Magens Bay sale, Platinum will then auction a property on the neighboring island of St. John. Known as Villa Rivendell, the residence is located within the exclusive Peter Bay community on the north shore of the island. The Mediterranean-style property will sell to the highest bidder at or above the auction’s reserve price of $2.5 million.

The 6,350-square-foot Villa was recently offered for sale at $6.25 million. A separate, 0.5-acre vacant parcel located immediately adjacent to the Villa will also be offered at a separate auction, with the high bid being subject to the seller’s confirmation. Platinum is conducting the sale in cooperation with listing agent Nick Van Assche of Sea Glass Properties.

«We’re happy to be returning to the Caribbean after our tremendous success last December with the sale of a unique, St. Thomas mansion for approximately $9 million«, said Trayor Lesnock, Platinum’s president and founder. «We’ve shown that Caribbean real estate auctions are very viable, and the international market is listening».

Situated on what’s considered one of the finest pieces of residential real estate on St. Thomas, the multi-structure Magens Bay residence offers striking views of the world famous bay. It offers 9-bedrooms and 9.5-baths, plenty of space for family and friends. Interior amenities include a gourmet kitchen, fitness center, billiards room, and large living and dining salons. Outdoors, there are multiple patios and balconies, in addition to a pavilion, Zen garden, wet bar, and two pools – one boasting a large deck flanked by fire torches. The residence also has its own «private beach», located just steps beneath the lowermost deck. An 8-foot high, concrete perimeter wall and a gated, guardhouse entry ensures privacy.

With 5-bedrooms and 4.5-bathrooms, Villa Rivendell is a peaceful paradise tucked within St. John’s exclusive and gated Peter Bay community, known to be home to some of the most luxurious properties in the Caribbean. The Villa is situated on 1.04 acres, and is perched less than 300 feet from stunning, white-sand beaches. Features include a fitness room, newly updated kitchen, and extensive landscaping. Taking advantage of its sumptuous water views, the outdoor living areas boast a spacious brick patio, infinity-edge pool, a hot tub with waterfall, an outdoor shower, and a spacious gazebo and summer kitchen.

Both properties are being offered «turnkey» furnished, in move-in condition for their new owners. «Although each property is ideal as a private retreat in paradise, they also offer excellent opportunities for rental income via luxury vacation and event leasing», noted Brad Pruitt, Platinum’s director of sales. «The turnkey nature of the offerings makes it seamless for a new owner to immediate make use of the properties for reliable income generation, if desired».

Long a popular destination for U.S. and international travelers, the USVIs – specifically the primary islands of St. Thomas, St. John and St. Croix – have been collectively voted the best place to visit in the Caribbean by U.S. News and World Report. St. John is the smallest of the USVIs, and is considered the wealthiest of all the islands. Its beautiful and protected National Park lands are complimented by beaches that have been ranked by Conde Nast Traveler as some of the best in the world. Larger and busier that St. John, neighboring St. Thomas is a famous cruise destination, and offers world-class shopping, golfing, unparalleled snorkeling and coral reefs, and an exciting nightlife, all set within an island sanctuary.