Sky Realty plans $200 million real estate auction

Sky Sotheby’s International Realty Inc is planning another giant real estate auction next month, claiming it to be the biggest single-city auction of real estate in Florida with over $200 million dollars worth of homes.

Sky, based out of Sarasota, has put roughly $1 million worth of marketing into the auction in local newspapers and in magazines including the Wall Street Journal and Forbes.

Sky has lined up 50 properties ranging in value from $500,000 to $20 million.  Around 20 of the homes will be sold as absolute auctions with no minimum reserve requirement.

Read more about the Sky real estate auction at the Herald Tribune.