News Summary
A mansion in Coronado Cays has been sold for $24.1 million during a Hong Kong auction following two years of unsuccessful attempts to attract buyers. The property, originally listed for $43 million in November, saw a reduced asking price of $37.5 million before the auction by Concierge Auctions. The sale is currently in escrow, marking a significant turnaround for the sellers. The luxurious property boasts stunning views, a private theater, and extensive living space, reflecting the growing trend of auctioning high-value homes.
Coronado – A mansion in Coronado Cays has been sold for $24.1 million at a Hong Kong auction after struggling to attract buyers over the last two years. The auction, which occurred last week, was conducted by Concierge Auctions, a luxury real estate firm based in New York.
The property known as 3 The Point, which encompasses an impressive 11,715 square feet of living space, was originally listed for $43 million in November 2021. Following a lack of interest, the asking price was subsequently reduced to $37.5 million a year later, before the decision to auction the estate was made.
The auction process lasted 52 days and featured a live bidding event held at The Upper House, a luxury hotel in Hong Kong. Bidders could participate from anywhere in the world by submitting a $100,000 deposit and proof of funds, making physical attendance unnecessary. The bidding began at $19 million and attracted nine bidders.
Currently, the sale is in the escrow process which typically takes about one month to finalize. The identity of the winning bidder has not been disclosed by Concierge Auctions, but public deeds to the property will be accessible once the sale concludes.
The Call family, who owned the property through a trust, previously struggled to sell the mansion. The patriarch of the family, Jay Call, is known for founding Flying J Fuel Co., which is now called Pilot Flying J.
The mansion features luxurious amenities, including floor-to-ceiling windows that provide stunning views of San Diego Bay, a private theater, and a 3,600-square-foot rooftop deck equipped with a pool spa and a small golf course. Furthermore, it boasts seven bedrooms and 9.5 bathrooms, alongside 320 feet of private bayfront that allows for substantial marine accommodations.
This sale was part of Concierge Auctions’ Hong Kong Global Sale, which typically draws international buyers looking for high-end properties. Alongside the Coronado mansion, the auction also included other notable real estate listings, such as a 22,000-square-foot residence on Long Island and a 10.1-acre ranch near Aspen, Colorado.
The successful sale of the property marks a significant outcome for the sellers after a prolonged period without viable offers. As luxury real estate continues to see fluctuations, this auction highlights the growing trend of utilizing auction methods to expedite the selling process for high-value homes.
Potential buyers and investors are increasingly considering auctions as an efficient pathway to own exclusive properties that may have lagged on the traditional market, especially in the aftermath of price reductions and prolonged listings.
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Additional Resources
- Mercury News
- Wikipedia: Coronado, California
- San Diego Union Tribune
- Google Search: Coronado mansion auction
- Fox 5 San Diego
- Encyclopedia Britannica: California
- San Diego Union Tribune
- Google News: Derwin James
Author: STAFF HERE CORONADO
The Coronado Staff Writer represents the experienced team at HERECoronado.com, your go-to source for actionable local news and information in Coronado, San Diego County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Coronado Island Film Festival, productions at Lamb’s Players Theatre, community workshops at John D. Spreckels Center, and iconic celebrations at Hotel del Coronado. Our coverage extends to key organizations like the Coronado Chamber of Commerce and Visit Coronado, plus leading businesses in hospitality, dining, and tourism that drive the local economy. As part of the broader HERE network, including HERESanDiego.com, HEREHuntingtonBeach.com, HERELongBeach.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
