A no-reserve auction is perhaps the best barometer to gauge the true value of a luxury property in any given area. There is no speculation or hype; it is a gathering of potential buyers with money that are interested in buying, revealing what the market is really willing to pay for a property.
A premium property in Clayton, Georgia that is currently listed at $10.95 million will go to auction on June 6, 2013. The estate is known as The Pointe, which is located on the shore of Lake Burton in the Appalachian Mountains of northern Georgia. The residence has a legacy of sorts because it is currently owned by Nick Saban, the head coach of the University of Alabama Crimson Tide football team. The Pointe was also designed and built by Jim Suddes, who is a local homebuilder, friend, and neighbor of the well-known football coach.
The elaborate dwelling sits on a 1.7-acre parcel and has more than 700 feet of lake frontage. It has six bedrooms and nine bathrooms in its 9,600 square feet of living space. The three-level manor features a boathouse, a Cape Cod-styled lighthouse, and an elaborate outdoor kitchen that includes a gas fire pit made of stone.
“My family and I own another home on the lake, which we have enjoyed for 12 years, so I was excited when this very special lot came available to develop with Jim [Suddes],” Saban said. “Lake Burton is our favorite getaway. It’s a beautiful, hidden gem, where we find great peace and seclusion.”
Concierge Auctions is coordinating the sale in conjunction with Julie Barnett of Harry Norman Realtors Luxury Lake and Mountain, which is an affiliate of Christie’s International Real Estate.
“Families choose to live on Lake Burton because they are buying a lifestyle for generations to come. It is truly one of the most beautiful places I have ever seen, and the residents of Lake Burton are extraordinary,” said Suddes, who designed the home with the help from Saban. “Rabun County has it all — boating, fishing, skiing, biking, kayaking, hiking, golfing at the Waterfall Club, and most of all, relaxing in a tranquil environment.”
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