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Premiere Estates Auction Company Announces Auction Of Rare Multi-Million Dollar Luxury Home In Atherton, CA

LOS ANGELES, May 17, 2013 /PRNewswire/ --  Premiere Estates Auction Company today announced the auction of a three-story, 14,583 sq ft Tuscan-style estate nestled in the prestigious tech-friendly city of Atherton, CA. With a starting bid of $7.1 million, the auction is scheduled to take place June 8 at noon PDT and will be held on site, telephonically and by proxy utilizing the Premiere Estates Auction Company exclusive World Bid Auction platform, which allows buyers to bid from any place, anywhere, anytime.

In September 2010, Forbes magazine placed Atherton's zip code of 94027 at #2 on its annual list of America's most expensive zip codes,  with a median home price of $4,010,200.  Atherton is one of the wealthiest cities in the United States.    

Premiere Estates Auction Company president and 26-year real estate veteran Todd Wohl explains the rarity of this investment opportunity, "Auctioning a property of this stature that is in such a prestigious area and strong real estate market such as Atherton is very rare. This is one of the best values to hit the market in a long time," says Wohl.

Located at 96 Heather Drive, Atherton, CA 94027, the stunning Northern California home with eight bedrooms, eight full baths, and four half baths was designed by famed architect Dennis Greenbaum. Luxury amenities include a salt-water pool, a separate pool house, indoor spa, two jacuzzis, steam room, dry sauna, wine cellar, exercise room, low-noise elevator, and indoor theater.

European influence and craftsmanship is evident in the original French tiles that adorn the roof, imported Italian front door, marble flooring in the grand foyer, and stones that were ballast on ships coming to San Francisco provide the home's distinction. The estate's impressive interior is matched by a beautifully manicured 43,000 sq ft lot with tranquil fountains, automatic security gates and 10+ car garage.

San Francisco and surrounding area technology executives are showing high interest in this home due to its unique technology and smart home features. With a VoIP system in place, a Homeworks integrated system to manage the HVAC and appliances, pre-wired rooms for information technology, and three phase power industrial backup generator as well as racks with patch panel switch connectors for banks of servers, this home provides the balance for professionals to "work and play."

Premiere Estates Auction Company requires only a bidder registration form and cashier's check of $100,000 in order to register to bid. The bidder can bid on site, telephonically or by proxy on auction day. The Premiere Estates Auction platform also allows more buyers access to luxury home purchase by requiring only 10% down to secure financing.

Wohl explains the advantage of the auction process over traditional purchase, "In the auction process, the buyer is in control. The buyer determines if they want the home by providing the highest bid. Unlike a typical real estate transaction, the seller is in control - he or she is presented with the offer and makes the choice." Wohl adds, "This is a big advantage for a smart investor."

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