On May 19th, Mansion Global readers opened the paper to uncover the “Secret of the San Juans” in an article heralding the awe-inspiring archipelago as a retreat as recent analyses have named it “the hottest luxury real-estate market in the country.” According to Nancy Keates, the growth in the area is both a product of its serene surroundings as an escape from the hustle and bustle of city life and “by an influx of high-tech companies to Seattle, where soaring home prices make the San Juans look like a bargain.”
Category: Sotheby's International Realty (15)
Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.
Four years ago Edvard Munch was crowned the most expensive artist at auction. Fast forward to today and the Norwegian painter will take center stage again in NYC next month.
It’s estimated that Munch’s 1902 canvas “Girls on the Bridge” is worth more than $50 million! The artwork, showing a group of women in long colorful dresses, will lead Sotheby’s evening sale of Impressionist and modern art on November 14th.
The painting was first brought into the U.S. by industrialist and collector Norton Simon in the 1960s, Sotheby’s said. It has been included in museum exhibitions, including London’s Tate Modern and New York’s Guggenheim, according to Sotheby’s. It is consigned by an anonymous collector who purchased the work for $30.8 million at Sotheby’s in 2008. The company guaranteed the seller an undisclosed minimum price and found a third-party backer who agreed to place an irrevocable bid, ensuring the work sells.
Sotheby’s evening sale has 43 lots, targeting more than $145.8 million, the company said. That’s a 52 percent decline from the result of the similar auction a year ago when just two paintings from the collection of billionaire William Koch tallied $101 million.
“There’s an appetite to buy but not many people wanting to sell,” said Shaw.
The season’s line-up was impacted by the lack of significant estate sales, he said. Discretionary sellers are affected by the uncertainty over U.S. presidential election, U.K.’s Brexit vote and oil prices, he said.
The top lot at rival Christie’s Impressionist and modern art sale is Claude Monet’s painting of a haystack, estimated at about $45 million.
Sotheby’s will also offer Pablo Picasso’s 1963 painting, “Le Peintre et son modele” that has been in the same collection since 1968 and is estimated at $12 million to $18 million.
Sotheby’s International Realty Affiliates LLC today announced that Mott & Chace Sotheby’s International Realty in Rhode Island has acquired local brokerage Coleman Realtors, LLC. The acquired firm will now operate as Mott & Chace Sotheby’s International Realty.
Mott & Chace Sotheby’s International Realty now has a total of six offices and over 130 independent sales associates. The acquisition expands the firm’s presence into new markets including Barrington and East Greenwich while continuing to serve the luxury residential real estate markets in Charlestown, Narragansett, Providence and Watch Hill.
This week, our Mercer Island waterfront was featured on a modern homes blog on Sotheby’s International Realty as a market spotlight!
Home to some of the industry’s most prominent technological titans, Washington State’s “Silicon Forest” is ever-growing. “Techies” currently make up nearly 10% of Seattle’s workforce and as Dean Jones, Owner and CEO of Realogics Sotheby’s International Realty estimates, these workers represent a large share of employment migration that translates to increased housing demand from a demographic that makes an average of $130K annually. Thus it is no surprise that industry growth transcends economic impact and is found in the area’s luxury homes, which embody modern styles that incorporate technological innovation and milestones in “green” living.