Malibu Colony to have its first home auction
The sale is subject to a reserve price set by the owner of the four-bedroom, 3.5-bathroom house, which features a lagoon-style pool and 12-person spa. Comparable home sales in the gated community include the $10.95-million purchase of a 3,355-square-foot midcentury house and a $10.98-million transaction for a house of nearly 2,200 square feet.
This is believed to be the first house auction conducted in Malibu Colony, according to Ed Kaminsky of Premier Estates Auction Co. The 10-year auction veteran has sold houses elsewhere in Malibu through the auction process, with the most expensive home selling for $9.7 million.
Details about the sale are available at www.PremiereEstates.com. Carol Bird of Westside Estate Agency is the co-listing agent.
Photo: The Malibu Colony house will be sold at auction Valentine's Day weekend. Credit: Courtesy of Premier Estates Auction Co.