ASPEN, Colo., Nov. 4, 2016 /PRNewswire/ -- Redstone, Colorado's historic Redstone Castle has been successfully sold following a live auction held at the property site on October 7, 2016, according to Platinum Luxury Auctions, the auction house that managed the transaction. The sale was held in cooperation with Aspen-based brokerage Aspen-Snowmass Sotheby's International Realty, represented by listing agents and top producers Ted Borchelt and Jana Dillard.
Although the price of the sale has not yet been released, representatives for Platinum stated that the high bidder satisfied all of the terms of the auction sale, and that the transaction should close shortly. The auction required that a reserve bid of $2 million be met in order for the property to be sold. The purchaser is also required to put forth an additional 10% in commissions and other transaction fees to consummate the sale. "We have been quite impressed with PLA since day one!" exclaimed Borchelt, adding that he and the property seller interviewed several luxury real estate auction firms before selecting Platinum. "I cannot imagine the competition doing a better job."