It’s not often you get to see a real-estate deal go through its paces, but that’s exactly what happened on Thursday when an online auction for a home in Vancouver saw the hammer drop for $1.9 million on the first day of bidding.
The listing was made by the real estate firm Landmark Real Estate and was put up for sale in the Lower Mainland, and it was priced at $1,929,000, a number that would have put it just shy of $2 million at the time of writing.
The property, located in a community known for its art galleries, was listed for sale at the home’s asking price in September, and its listing was for a 1,500-square-foot house in the heart of Vancouver’s Lower Mainlands, with a 5,000-square foot garage attached to it.
It was a $1-million property, but the listing was actually worth more than that.
The home was advertised as a one-bedroom residence that had a “proud history of being the home of the world’s premier contemporary art gallery,” which is why it was listed with such a lofty price tag, Landmark told CBC News.
The home was also described as having “a stunning location.”
The listing description included some of the elements of a typical home listing, including a “beautiful backyard, large front yard, and spacious living room” and a “brilliant, contemporary design with extensive open spaces.”
However, the listing did not mention the “huge amount of work” that went into the listing, Landmarks said.
The listing included a $3,000 deposit, which was “the lowest I’ve ever seen,” Landmarks told CBC.
When contacted by CBC News, Landmarked said the listing had been pulled, and that it was investigating the circumstances of the listing.
The real estate company did not immediately respond to a request for comment.
The bidding for the home was initially stopped at $2.3 million, before it was finally pulled by Landmark at $3.1 million.
Landmark said it was reviewing the listing to see if it could get the property back on the market, but it said the home is “not being marketed as a condominium or home.”
Landmark is not the first real estate listing to be pulled due to high bidding.
The New York Times reported last year that a home listing in South Florida was pulled for $2,000.
The Globe and Mail has contacted Landmark for comment, and will update this story when we hear back.