SUPERIOR TOWNSHIP, Mich. - Dogwood Manor, the palatial estate that took 10 years to complete, has sold for $2.13 million at auction.
The property made headlines last month when it was announced it would be going under the hammer with a minimum bid of $1.68 million. The figure came as a shock to many, since the home was originally listed for $5.9 million.
According to a report in the Chicago Tribune, the property cost more $18 million to build and employed 100 specialty craftsmen, sparing no details.
The home was auctioned on Interluxe, an online luxury real estate marketplace.
"Our unique platform creates an exciting and compelling online auction experience that streamlines transactions and fosters fair market value through a transparent and open bidding process," Interluxe founder and President Scott Kirk told A4 via email.
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"Sellers receive fair market value as a result of competitive bidding and buyers are assured that they haven't over-paid due to an open and transparent bidding process that ensures a level playing field."
Kirk wrote that 136 groups previewed the home prior to auction, and 17 offers were made from 11 bidders.
"We couldn't have asked for a better turnout," he wrote.
The home has been on the market for years, and local listing agent Jeffrey Post said he is happy with the results.
"(Interluxe's) online reach and media exposure combined perfectly with our existing brokerage efforts, to produce qualified buyer interest, a competitive auction, and above expected results," he said in a statement.
Many are saying that the buyer, who purchased the estate at well below the original list price, got a deal on the unique property.
"There's no property in Superior Township quite like Dogwood Manor," Kirk wrote. "The amount of time, labor, and craftsmanship that went into this property is truly unlike any other property in the area. To be quite frank, what property are you familiar with that has their own private observatory? Dogwood Manor is truly one-of-a-kind."
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