Excitement over the real estate auction for Bob and Patty Rolland’s stunning beachfront four-villa property reached a crescendo yesterday afternoon as auction time neared. That’s when the 20 or so attendees — along with countless off-island bidders — got the
Excitement over the real estate auction for Bob and Patty Rolland’s stunning beachfront four-villa property reached a crescendo yesterday afternoon as auction time neared.
That’s when the 20 or so attendees — along with countless off-island bidders — got the news:
The auction was cancelled.
“The seller has determined that it would be in his best interest to sell it privately,” announced one National Auction Group respresentative.
As the crowd dispursed, a lone guitarist strummed away in a villa living room, filling the beachfront four-home resort property with the sweet sounds of Hawaiian music.
If it had gone off, it would have been one of the first real estate auction on Kauai. Indeed, it might have heralded a new way of selling unique, hard-to-value “trophy” property here, even traditional real estate valuations continue to soar.
Speculation swirled as attendees sought to answer why the auction had been called off.
“Maybe they shouldn’t have named that $8.5 million figure in The Garden Island newspaper,” posited one O‘ahu-based marketing consultant here for the event.
Or maybe the price scared bidders off, said another attendee.
Or maybe it’s all a part of the Rolland’s master sales plan, said another.
No one knew for sure, and the Rollands could not be reached for comment.
Still, the much-hyped auction got tons of play in statewide newspapers and generated a typhoon of interest from people around the state and country.
National Auction Group of Gadsden, Alabama, will continue to represent the Rollands, so they aren’t out the $100,000 for the Group’s service.
“The broker of record on Kaua‘i is still working with us right now,” said Eddie Haynes, the National Auction Group’s auctioneer. It appears the cancelled auction had little negative affect.
“By virtue of the auction process, the sellers might have gotten certain parties to sit down and work out a deal,” said David Kundysek, a petroleum-industry worker who flew in from Dallas to scope out Po‘ipu property this summer. At least four representatives from the National Auction Group were on hand to assist interested bidders who stopped by, and even after the auction was cancelled, business cards were being exchanged as attendees filed out.
The couple’s unique beachfront four-villa property in Po‘ipu was different enough from nearby properties for the Rollands to try a less-traditional form of marketing, perhaps to get a better idea of its true value. Years before, they had used more traditional means to sell, but weren’t able to get their asking price, Bob Rolland said. “I would have liked to have seen the auction happen,” said Haynes, “because that’s the exciting way of doing it.” Haynes said that a future auction has not been ruled out.
Business editor Phil Hayworth can be reached at 245-3681 x251 or phayworth @ pulitzer.net
