This is an archived article that was published on sltrib.com in 2017, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Park City is home to some of the most naturally beautiful vistas, skiing and outdoor activities on the planet – no one who has ever been here is going to question this. As such, the real estate market is attracting some very wealthy people who expect to live in very nice homes. Now, more than ever, these homes are being sold at auction.

No strangers to the extreme end of the luxury real estate segment, DeCaro Auctions International is currently holding open houses each weekend for the auction of a jaw-dropping "ski-in/ski-out" estate in the exclusive gated community, The Colony. Isolated in nearly 19 acres and nestled on a mountaintop at 160 White Pine Canyon Road, this sprawling showstopper boasts over 13,000 square-feet including seven lavish bedrooms and eight bathrooms.

The live "absolute" auction of the estate on White Pine Canyon Road is scheduled to be held on property on Saturday, July 8 at 11 AM Mountain Time.

"DeCaro Auctions International existed long before the luxury real estate auction market became a trend," says Jana Willardsen, one of the DeCaro representatives in charge of the property in Park City. "With pride and perpetual dedication to excellence, we remain at the top of the industry – indeed, as the pioneers and innovators of the modern luxury real estate auction experience, our auction of this must-see estate in the esteemed Colony community of Utah is yet another example of our commitment to a discerning client base."

Much like fine art or one-of-a-kind cars, a unique luxury home is a scarce asset. If you happen to be interested in a ski-in/ski-out, multi-million dollar mansion in Park City with a glass elevator, there are not too many of them available. Furthermore, the likelihood one will come up for sale in the foreseeable future is very small. It is, ultimately, for this reason the purchase and sale of luxury homes lends itself to the auction process.

From a seller's point of view, the auction of their luxury home has a number of benefits. First and foremost, no matter what, the home is sold. To most of these home's owners, their time is their most valuable asset. The comfort in knowing the sale of one of their most valuable assets is going to happen at a specific time on a specific date takes a lot of the stress out of the sale. Rather than having to wait for the right buyer for a property they no longer want, the home's owner can be assured that the sale will happen.

For buyers, an auction is the truest form of determining the market value of the home at that time. All those interested in purchasing the home will either be or have a representative in the room at the time of auction and they all know what they're willing to pay for the home. The price rises until one bidder is willing to pay more than any other and the value of the home is determined. At the end of the auction, demand has rather passionately intersected supply.

DeCaro Auctions International has the ability to bring in the right buyers, all at the same time. They are some of the most heavily and precisely marketed properties on the planet and, in having an auction to sell the property, this creates urgency. All of DeCaro's auctions are performed live and on-site. On the day of the auction, everybody is gathered in one room to place bids. People will also have correspondents in attendance on the phone to do their bidding and everything is happening in real time. Daniel DeCaro starts the bidding and paddles begin to fly. Hearts pound, people yell, smile and sweat. When the final bid is placed and the home declared "sold", a roaring applause rolls through those in attendance and heart rates begin to come back down. It is a visceral, transparent and energetic experience for everybody involved.

If you would like to experience a luxury home auction first hand, DeCaro, in cooperation with The Lawson Team of Engel & Völkers, is holding open houses each weekend from 1-4 PM. The last scheduled open house preview will be held on Friday, July 7 from 1-4 PM, the day before the auction. Private appointments are also available by calling the DeCaro offices at (800) 332-3767.

Head up the mountain, see the incredible property and, if you like, register to bid and experience the heart pounding excitement of a live auction, first hand.