After two local estates—Wareham in Gloucester and Cedar Point Farm in Mathews—were on the market for many months, the owners decided to bring in a company that specializes in auctions of luxury properties.
Both properties will be up for bid at 6 p.m. next Wednesday, June 10, with an auction at Wareham, located on White Hall Road on the Ware River in Gloucester. The two properties will be sold to the highest bidder, without a reserve price set.
Diana Burton, part of the Burton and Rodgers Team (with Neena Rodgers) of IsaBell K. Horsley Real Estate, said that this was the first time that Concierge Auctions has handled auctions in this area. Concierge was contacted, Burton said, after she and Rodgers had tried to market the properties for extended periods.
But the local market for high-end properties has never fully rebounded since the economy slowed in 2007, Burton said, and that market sector has yet to recover.
Rodgers said she and Burton tried traditional local advertising...