Nicholas Politi
| Yesterday, I was honored to represent a bidder at the Camp Iroquois auction on Upper Saranac Lake, hosted by Platinum Luxury Auctions and BHHS Adirondack Premier Properties. It wasn’t my first time in that house under those circumstances. About five years ago, on a chilly October evening, I stood in the very same great room, representing the seller who had decided after more than a year on the market that an auction was the best way to move the property on to its next steward. That decision wasn’t without risk. Luxury auctions, especially those without reserve, force both sellers and buyers to embrace uncertainty. But they also create urgency, drive activity, and when executed well, can be the catalyst for deals that otherwise might never happen. Yesterday’s sale reminded me of just how effective this strategy can be. Having now worked on six Adirondack luxury auctions, representing both buyers and sellers, I’ve seen firsthand that while not every auction is a grand slam, they’ve consistently led to successful outcomes. In traditional marketing, luxury properties often linger on the market, waiting for the “right buyer” to fall in love. The challenge in the Adirondacks is that our sales window is seasonally limited. Once summer fades, so does the prime opportunity to capture a buyer’s attention. That’s where auctions offer a different path. When advising a seller on a well-noted lake recently, I shared why a luxury auction platform can be a powerful tool. The process provides global reach through access to a curated network of over a million luxury buyers and agents worldwide, urgency through timed bidding that motivates action and pushes on-the-fence buyers to commit, and seamless collaboration with the listing agent to ensure continuity and local expertise throughout. For legacy lakefront estates, this formula has proven its worth. Sometimes all it takes is a deadline and the knowledge of potential competition to turn a watcher into a bidder. I’ve had the privilege of participating in several notable Adirondack auctions, including two on Upper St. Regis Lake that delivered excellent results. Other successes include: 57 St. Regis Carry Road (Camp Woodmere) – Sold in 2020 for $5,210,000 (over asking) 7249 State Route 30 (Camp Limberlost) – Sold in 2023 for $4,734,000 5096 State Route 30, Saranac Lake (Camp Iroquois) – Sold for $2,419,560 441–443 Big Wolf Road, Tupper Lake (Butterfly Camp) – Sold for $1,680,000 516C Grindstone Bay Road, Tupper Lake (Grindstone Bay) – Sold for $1,878,500 5096 State Route 30, Saranac Lake (Camp Iroquois) – (price undisclosed) Each of these sales underscores the power of creating urgency and global visibility, two key ingredients in a market where buyers are discerning and often slow to act. Whether it’s a historic camp on Upper Saranac or a waterfront estate on St. Regis, auctions aren’t for everyone but for some, they are the perfect solution. They bring momentum to a market that can otherwise be patient to a fault, and they’ve proven, time and again, that competition breeds results. As I watched bidders gather once again at Camp Iroquois, I was reminded of something simple: in Adirondack real estate, every deal is unique, but when the gavel falls, it often lands on success. |
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