The sale of a stunning oceanfront four-bedroom villa in Phuket next month could potentially have a lasting impact on how auctions are conducted in Thailand.

Villa Wang Nam Jai, Kamala is being offered in a no-reserve auction, which will be held from December 6-12.

Conducted through Concierge Auctions, in conjunction with local agent Phuket Property Network, the process will culminate with a live auction in New York, where the successful bid will be revealed.

Source: Phuket Property Network

Winning bidders have the opportunity to earn their real estate agents 4 per cent commission, with their opening bid also in line for a 10 per cent rebate - effectively cancelling out all or most of the 10 per cent buyer’s premium charged by the auction house.

Phuket Property Network Property Consultant Iain Tiltman told WILLIAMS MEDIA the auction was already gaining massive interest on the island.

"This is a brand new concept to most agents on the island and they are intrigued to see the outcome," he said.

"As are we." 

The absence of a reserve may invite a greater scope of bids, but there is no mistaking the property's place within Phuket's premium luxury market.

Spread over three main levels, Villa Wang Nam Jai offers a total of 2,200 square metres of total built floor area, comprising 800 square metres of interior space and another 1,400 square metres of terraces, walkways, car parking area and swimming pool.

The resort-like estate includes multiple living areas, a media room, fitness center, while vast, private ensuite bedrooms and secluded staff quarters ensure everyone on the property has a place to relax.

Having previously been offered for $7M USD, the guide for opening bids s suggested to be 2.5m to 3m USD. 

Pre-bidding ends on the 5th December, as does the opportunity for the 10% opening bid rebate.

Full and ongoing agent and bidder support is offered by the team at Concierge Auctions.

Click here for more information about the property.

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