Torrance, CA – June 11, 2013 – (RealEstateRama) — Auction.com, the nation’s leading online real estate marketplace, will conduct a three-day online auction of the Gainesville mansion owned by philanthropists George and Mary Susan Donovan.
The online auction will take place June 24-26.
Located at 4890 Serene Shores Drive, the 24,110-square-foot home was designed for — but never occupied by — the Donovan family for private use. Because the family no longer plans to use the home as their primary residence, the Donovans have chosen to sell rather than continue to maintain the unused property.
The couple actively contributes time and financial resources in support of education. They are long-standing supporters of The Wallace H. Coulter Department of Biomedical Engineering, a joint department of the Georgia Institute of Technology College of Engineering and Emory University School of Medicine. The family’s other philanthropic interests include World Vision, The Jackson Memorial Foundation, Oldfields School, and Micro Enterprise Charter Academy in North Long Beach, Calif.
Though the construction cost of such a property in the current market is estimated at close to $20 million, the bidding will start at $1.5 million. The final open house is scheduled at 11 a.m.-5 p.m. on June 15.
“This is an unprecedented opportunity to own a well-appointed luxury estate,” said Jennifer Leuer, senior vice president of Auction.com’s Luxury Division. “The Auction.com platform is perfectly suited to allow the owners to sell quickly at a market price and allows bidders to compete for this unique asset through a level and transparent process.”
The picturesque mansion sits on more than 12 acres of gated property near Lake Lanier. Wrought iron staircases, an elegant library, and an ideal pool and spa area, make this estate a model in resort-style living. The six bedrooms, six bathrooms and two kitchens in the home provide spacious living quarters.
“The Donovan family designed this home to stand the test of time, with castle-like construction quality and a combination of classic and modern design features,” said listing agent Seema Jain of Sugarloaf Realty Partners. “This is a tremendous opportunity for potential buyers to purchase a unique, spacious Georgia lake home at a market price.”
The online auction is backed by Auction.com’s extensive marketing program and online platform, which bring together pools of qualified buyers in a highly transparent process. As a result, both sellers and potential buyers benefit from a timely sale that sets a new fair market value for the home.
Bidders must register at www.auction.com and provide a $10,000 deposit and proof of funds.
Auction.com is the nation’s leading online real estate marketplace and has sold more than $20 billion in assets since 2007. The company serves customers from the largest financial institutions and investors in real estate to the individual consumer and agent. Auction.com is headquartered in Irvine, California and has offices in Dallas, Miami, New York, Newport Beach, Silicon Valley, London, and Frankfurt. Visit Auction.com for more information.