The Razor: Residence of Art Heads to the Auction Block
Source: Unique Homes
“The Razor” house, located in La Jolla, California, is slated to be auctioned after being on the market for three years. A minimum bid of USD $16 million will be required—a significant reduction from the initial $45 million asking price and the $34 million construction cost. “It’s a steal,” said listing agent Bob Hurwitz to AOL Real Estate. “It shows what you can buy right now in the market on the high end.” Designed by architect Wallace Cunningham—one of Architectural Digest’s Top 100 Designers—the 11,000-square-foot architectural masterpiece showcases 4 bedrooms and 6 baths, a two-level guest house, features private access to Black’s Beach and is constructed from white polished concrete and floor-to-ceiling glass. What’s more, the largely transparent home has been carefully designed to filter the incoming sunlight in such a manner that the home looks different at different times of the day. Even the pool interacts with the surrounding elements to create optical illusions at dusk.
“In the moonlight it takes on a whole new dimension in photographic black, gray and white, the concrete glowing,” said the original owner to Architectural Digest. “Even storms are fascinating. You’re right in the middle of them. [Wallace Cunningham] really did grow the house from the land and the panorama.” The home was commissioned to Cunningham more than 10 years ago with an unlimited budget until three years ago, when construction was halted just short of completing the interior and the property was placed on the market due to the owner’s plans to move East. Since then, the home has been the placed under the control of a court-appointed trustee.
The auction will be available exclusively to qualified bidders on Tuesday, September 28, 2011 at noon PDT at the premise. The auction will be conducted by the Trustee, who will be the sole judge of the rules by which the auction will be conducted. Bidders will be allowed to participate by oral bid at the property or by telephone conference line. All bids must be in US dollars and in cash (seller will not provide any financing); the minimum bid, as stated above, will be US $16,000,000 with overbids in increments of $100,000. In order to qualify, bidders must wire US $500,000 to the trustee’s account by 5 pm PDT on Tuesday, September 21, 2011 and submit proof of the bidder’s ability to close by November 15, 2011 to the trustee. Proof of ability to timely close will be subject to the trustee’s sole and absolute discretion. Qualified bidders, and any representatives attending the auction in person, will be required to sign a waiver of liability for any injuries that may occur on the premises. The home will be unfinished and no personal property (staged furniture, et cetera) will be retained with the property other than personal property that is incorporated into the construction of the house.