Private Air New York Magazine
Issue link: https://privateair.uberflip.com/i/1462390
www.privateairny.com Private Air | Spring 2022 94 BUSINESS Words By: Frank Aazami and David M. Brown CONCIERGE AUCTIONS, SOTHEBY'S AND REALOGY BUILD A HIGH-PERFORMANCE VEHICLE FOR LUXURY HOME AUCTIONS P artnerships are in many forms, and, when they are well calculated, designed and built with purpose, a long-standing friendship can result. In November 2021, Concierge Auctions was jointly acquired by Sotheby's and Realogy Holdings Corp., collectively holding 80 percent ownership. Concierge Auctions will continue to operate independently as a 20-percent partner and work with listing agents worldwide. New York City-based Concierge Auctions is the world's largest luxury real estate auction marketplace, with a global team of 100. For the last six years, Inc 5000 has listed it as one of the fastest-growing companies; it has broken world records and auctioned properties in 30 countries and 44 U.S. states. e firm owns one of the most comprehensive and intelligent databases of high-net-worth real estate buyers and sellers in the industry as well as a state-of-the-art digital marketing, property preview and bidding platform. In turn, Sotheby's, also in New York City, is the world's premier destination for fine art and luxury goods, founded in 1744. And Realogy, headquartered in Madison, New Jersey, is the world's largest real estate brokerage franchisor with more than 19,000 offices and approximately 318,000 sales associates operating through franchise brands in approximately 115 countries. Its member companies include Sotheby's International Realty®, Better Homes and Gardens® Real Estate®, Corcoran®, Coldwell Banker® and CENTURY 21®. As a result, all parties to a home auction coordinated by Concierge Auctions benefit at higher levels than before: the home buyers and sellers as well as the real estate companies and agents, explains Frank Aazami, principal of the Private Client Group at Russ Lyon Sotheby's International Realty in Scottsdale. Future homeowners with limited means are beneficiaries, too, as the company funds 300 homes each year through its Key For Key® giving program with Giveback Homes™: For every property sold, the partnership funds a new home for a deserving family. "Our firm matches sellers of one-of- a-kind homes with some of the most capable property connoisseurs on the planet," says Concierge Auctions President Chad Roffers, who combines brokerage and technology expertise. In 2008, he partnered with luxury-