Luxury auction firm hits local high of $5M with Ligonier Township home sale

An owner looking to unload a multimillion-dollar home, in an area where such properties are the exception, might consider holding an auction to avoid taking a major loss on the investment.

Several such palatial estates in the Ligonier Valley recently changed hands through the services of Platinum Luxury Auctions, a Florida-based firm headed by a Western Pennsylvania native.

“We only take on about 25 to 28 transactions a year,” said Trayor Lesnock, a 2000 graduate of Washington High School who is the founder and president of Platinum. “We’re spending a significant amount of money to market those properties. We’re using a gigantic spotlight to shine on a few properties.”

Lesnock said Platinum focuses on homes priced at $2 million or more. Locally, it works with listing agents for real estate firms such as Howard Hanna.

Of the four luxury homes Lesnock’s firm took on in the Ligonier area since January 2019, the recent sale of Whose Woods, on Kissell Springs Road in Ligonier Township, set a new high for the local market.

Commanding $5 million, “It charts as the No. 1 all-time sale for a residential, noncommercial property in Ligonier based on records going back about 20 or 30 years,” he said. “That was a great transaction. We had a terrific seller and a terrific buyer.”

According to public records, the home was sold by Douglas Dick, co-chairman of the Dick Corp., which was in charge of construction of PNC Park.

Among the appealing features of Whose Woods, Lesnock said, is a nearly 15,000-square-foot, three-story main house that brings to mind an English manor. Its floor plan of large rooms includes five wood-burning fireplaces, a grand salon, a home theater, two wine cellars and a gourmet kitchen. It is supplemented by a roughly 3,000-square-foot guest cabin and a swimming pool.

Lesnock also was impressed by “the integrity of the construction, with steel beams. The mechanical system they had was so well set up,” including geothermal heating and cooling.

“It’s perched right atop the highest point of its lot, with a beautiful view overlooking the Ligonier Valley,” he said.

U.S. luxury home sales soared nearly 61% year over year during the three months ending Nov. 30, according to a report by real estate brokerage Redfin. The report also found the number of luxury homes on the market rose by 2.3% year over year during the same period, while the supply of homes in other price tiers declined.

Auctions of luxury homes, initially conducted by small boutique firms, have been around for a few decades but are gaining more prominence, Lesnock said.

Many of the finer homes in the Ligonier area rival in value ones that can be found in other prestigious markets, such as Beverly Hills, Lesnock said. The difference, he said, is “it’s just not worn on the sleeve as much” locally. “It’s a very subdued market.

“There are some spectacular properties that people have developed.” But, “When they go to sell them, the market is not there to obtain hardly anywhere near what they’ve invested in them. They simply are frustrated with an inability to sell the property traditionally.”

In luxury auctions, he said, sellers typically are not placing their properties on the market because of any financial distress, while buyers are people who are ready to seal the deal with cash. Parties on both ends of these transactions, he said, “really appreciate the speed of the process and the clean nature of it. It has no contingencies, no haggling and no negotiations.”

Platinum has handled auctions for two other Ligonier Township properties.

The 133-acre Hidden Meadow Farm, on Hidden Meadows Lane, features a guest house, a caretaker’s cottage, two barns and a riding arena. Lesnock noted the “fantastic main estate home” is highlighted by a two-story library with windows and other details influenced by Lord Admiral Nelson’s flagship, HMS Victory.

He said the other home, on Old Forbes Road, has the rustic look of a luxury log house and features custom work in wood and wrought iron. Supplemental buildings include a guest house and a pool house.

Platinum also was involved with the sale of Woodmere, situated along Woodmere Drive on about 200 acres that straddle the border of Cook and Ligonier Townships. It holds a special appeal for those who enjoy outdoor activities, with several outbuildings and walking trails, Lesnock said, noting: “It even has a shooting range with clay pigeons built into a hillside.”