Cayman Islands Estate With 210 Feet of Beachfront to Sell Without Reserve at Live, On-Site Auction on November 3

By Concierge Auctions, PRNE
Tuesday, October 5, 2010

Concierge Auctions to conduct the auction on behalf of Cayman Islands Sotheby's International Realty

GRAND CAYMAN, Cayman Islands, October 6, 2010 - Casa Coyaba, "House of Paradise," a tranquil Caribbean island estate with
more than 19,000 square feet of indoor and outdoor living space on 210 feet
of beachfront, will be sold at auction on November 3 without reserve,
NYC-based luxury real estate auction firm Concierge Auctions has announced.
Previously listed for US$19.8 million, this impressive property at 222 Old
Prospect Road in Grand Cayman will sell to the highest bidder regardless of
price. The live, on-site auction is being conducted on behalf of Cayman
Islands Sotheby's International Realty and marks Concierge Auctions' first
international assignment.

"Grand Cayman is an island gem for those seeking offshore residency or a
second home in a stable, high quality, tax-neutral tropical climate," stated
Sheena Conolly, Owner/Broker of Cayman Islands Sotheby's International
Realty. "We have the highest per capita income and standard of living in the
region, with around 52,000 residents from over 100 countries who gather to
work and play in harmony. Casa Coyaba is a splendor and one of the most
impressive luxury residences in the Caribbean. The setting is peaceful and
the views spectacular. There are very few homes that are as memorable as this

Majestic in both stature and structure, Casa Coyaba offers more than
19,000 square feet of completely furnished indoor and outdoor living space.
Plentiful windows offer stunning views and an abundance of natural light for
the spacious floor plan of 39 rooms including eight bedrooms, 10 full
bathrooms, two powder bathrooms, a library, two formal living rooms, a great
room, full gym, theatre room, two master suites, two gourmet kitchens, two
laundry rooms, a separate entire nanny suite and two executive offices. A
customized home automation system allows for complete access and control of
all rooms of the home, from temperatures to lighting to security cameras,
from any computer across the globe.

The home's nine open and eight covered balconies feature multiple table
sets, loungers, couches and tables for private individual conversation or
endless entertainment. The 40-foot, infinity edge, heated pool overlooks the
beach, as do the patio hot tubs. The Caribbean's consistent weather provides
opportunity to suntan on the estate's beachfront, or the water sport
enthusiast can pull up his or her jet skis or small watercrafts right to the
sandy backyard. A covered outdoor kitchen and bar area is the perfect place
to relax after a tennis match on the lighted doubles court that sits just
next to the residence.

Life in the Cayman Islands is unique - a blend of breezy relaxation and
business sophistication. Boasting phenomenal amenities and a quality of life
unmatched in the region, the new owners will be close to the mainland and
city life, yet far from the madding crowd. The Cayman Islands is home to
those looking for a discerning, picturesque and peaceful corner of the world.
Casa Coyaba sits majestically on this quiet historic road just past the South
Sound area, a sophisticated community which is home to upscale, unique homes
whose architecture is emphasized by the expanse of sky and sea that surround
them. South Sound is one of the more established residential areas on the
island and is also close to some of the best schools and sporting facilities.
The breezy coastal road that follows the seashore is ideal for an early
morning jog or evening stroll.

There are frequent direct flights to the area including those from New
, London, Miami, Atlanta, Washington, Chicago, Tampa, Toronto, Bahamas,
Kingston and other international destinations connecting to Grand Cayman,
which sits approximately 480 miles southwest of Miami, only one hour flying

"Concierge Auctions has established itself as the auction firm of choice
for luxury property sellers throughout the United States, and we are excited
to extend our services to select international clients," stated George
, CEO of Concierge Auctions. "No matter the location, our 60-day
disposition process is a proven technique to generate market value for
premier luxury properties. As the owner of Casa Coyaba has agreed to sell
through the truest form of auction - without reserve - buyers will appreciate
being able to name the price in an open, transparent forum. This is the first
auction of its kind in the Cayman Islands and a genuine, unique opportunity
to own a premier estate in one of the worlds most sought-after destinations."

The live, on-site auction of Casa Coyaba will be held on November 3. The
auction has no reserve, and no minimum bid is required to participate.
Cooperating brokers are welcome. Proxy bidding is available. See Auction
Terms and Conditions for full details. For further information and/or to
schedule a private preview visit or call

About Concierge Auctions: Concierge Auctions is the preeminent luxury
real estate auction firm serving high-end sellers nationwide. A leading
provider of services for individual and institutional owners of luxury
residential real estate, Concierge Auctions is revolutionizing the industry
by offering an accelerated marketing process that obtains fair market value
for high-end properties in a determined time frame. Building on a
centuries-old method for selling the finest art and antiquities, the company
combines the latest technologies and marketing programs with experienced
personnel to generate the maximum value for the most premier properties in an
open, competitive forum. As a preferred auction provider to Sotheby's
International Realty(R) and other luxury brokerage firms, the company has
executed auctions throughout the country, from New York to Hawaii. The
company's database includes more than 50,000 luxury real estate buyers and
agents from all 50 states and 38 countries and territories. The principals of
Concierge Auctions have been involved in the transfer of more than US$2
in luxury real estate sales over the past 10 years. For more
information, call +1-888-966-4759 or visit

Kari Neering, Rubenstein Public Relations, +1-212-843-8392, kneering at

will not be displayed