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Malibu Colony to have its first home auction

February 5, 2011 |  6:00 am

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Malibu Colony will be the site of bidding Feb. 13 when a 4,000-square-foot home once listed at $8.4 million will be auctioned with an opening bid of $3.7 million.

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 Carol Bird of Westside Estate Agency is the co-listing agent.

--Lauren Beale

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Photo: The Malibu Colony house will be sold at auction Valentine's Day weekend. Credit: Courtesy of Premier Estates Auction Co.