Mobile Bay home sells for $1,848,000 in auction

MONTROSE  – Daphne automotive dealer Chris Myers' luxury home on Mobile Bay sold for $1,848,000 Tuesday in an auction that drew bidders from Alabama, Georgia, Texas and even Scotland.

“Based on what we saw today, there’s a very strong market for prime beachfront homes on Mobile Bay,” said Craig King, president of J.P. King Auction Company, which managed the sale. “From the start, there was a lot of interest in this home, resulting in a strong turnout and a good result,” he said.

Myers said the sale reached his financial goals and that he “wouldn’t hesitate to recommend” J.P. King to other sellers.

One major factor in the successful sale was the decision to sell the home at absolute auction, King said. In an absolute auction, the property sells to the highest bidder regardless of price, with no minimum and no reserve.

“With an absolute sale, savvy buyers know that the owner is committed to sell, so it’s a good investment of their time to investigate the property and participate in the auction. That and the quality of the home itself drew a good crowd, and we got a fair market price,” said King.

Because of the home’s beachfront location on the east side of Mobile Bay, the auction company took the unusual step of scheduling the auction for 7 p.m. so bidders could watch the sun setting across the waters while they bid.

“You always want to show off the best features of the property, and we wanted bidders watching that spectacular sunset that the high bidder will be enjoying every evening. The weather cooperated, and it couldn’t have worked out better,” said King. Most auctions are scheduled earlier in the day, he said.

Purchasing the home was Paul Parham, of Jackson, Ala.. Parham’s firm, Parham and Parham, designs and builds plants for Georgia Pacific and other companies in the building materials industry.

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