FOR IMMEDIATE RELEASE CONTACT: Meg Rowley Portland Communications Ph: 212-415-3036

Concierge Auctions Files Suit Against Austin Seller for Non-performance

March 13, 2014, New York, NY Concierge Auctions, the nations premier luxury real estate auction company, announced today that they have filed suit against Ms. Kimberly Granger of Austin, Texas for failure to fulfill the binding contract she executed with the winning bidder at the February 12th auction of her home. We are both surprised and disappointed by Ms. Grangers failure to honor her agreements, said Laura Brady, the President of Concierge Auctions. This is the first time in the history of our company that we have had to pursue legal action against a seller for not arriving at a scheduled closing, she added. Casa Santuario, Ms. Grangers five-acre Austin estate with a Spanish mission-style home, attracted 9 qualified bidders to a live auction hosted by Concierge Auctions. After spirited bidding, the buyer and seller executed a sale and purchase contract for the high bid of $7.5 million. The marketing campaign, conducted over a five week period, generated more than 8,200 website visits from 49 US states (led by Texas, California, Florida and New York) and 75 foreign countries (led by Canada, the UK, Australia and Mexico), plus 176 open house visits and 84 property showings. This auction took place at Ms. Grangers direction, in an open forum and with multiple bidders, said Mike Russo, Chief Operating Officer of Concierge Auctions, And in the end, the auction was successful. The buyer has every right to take ownership of the property as agreed. Founded in 2008, Concierge Auctions has become the dominant player in the luxury real estate auctions sector. Concierge succeeded in selling $194 million worth of residential properties last year at an average price of $5.4 million, which represented an increase in sales of 36 percent over the previous years impressive $143 million.

* * * * *