Rare River Oaks Dream Home Lot Goes Up for Auction With $5.5 Million as the Starting Point
May the Best Bidder Win
BY Shelby Hodge // 09.21.21
The dwelling sitting on an acre at 4006 Inverness in River Oaks hits the international auction block on Thursday with no reserve.
Have your paddles at the ready. The international auction of a special property at 4006 Inverness in River Oaks launches on Thursday — with no reserve — and continues through September 28. Seriously. Concierge Auctions in conjunction with Maratha Turner Sotheby’s International Realty is handling sale of the unremarkable dwelling on a remarkable piece of property.
Walter Bering represents the seller, who opted to go the live auction route rather than wait for a buyer to come forward with an appealing offer on the 7,300 square foot house which is listed at $5.5 million. Once the auction opens, bidders can make their offer from anywhere in the world via Concierge Auctions‘ website.
The auction house bills itself as “the largest luxury real estate auction marketplace in the world with 90 percent-plus market share and the most comprehensive database of high-net-worth property connoisseurs on the planet.”
“The auction appealed to the seller,” Bering says. “It creates some urgency about the sale because there is a deadline and we drive a lot of traffic through the house with open houses daily. And it’s publicized internationally through Sotheby’s website as well as through the auctioneer’s.”
The Realtor allows that the $5.5 million list price is basically lot value.
“River Oaks land prices are probably going up faster than house prices, ” Bering surmises. “And it’s so difficult to find an acre lot in River Oaks.”
Outdoor Dining with Bering's
The tree-shrouded acre terraces down to a small creek which runs at the back of the property as it approaches Buffalo Bayou. While the creek overflowed during Hurricane Harvey, the house itself was untouched by rising flood waters.
While this is Bering’s first experience with Concierge Auctions, it is not for Martha Turner and certainly not for Sotheby’s. In fact, one of the 10 Most Expensive Homes sold in the Houston area in August was listed with Martha Turner Sotheby’s International Properties and handled through Concierge Auctions.
