Multimillion-dollar homes near Calgary auctioned off in new trend

Two multimillion-dollar homes near Calgary are heading to the auction block for a big one-day sale as part of an emerging national trend that has come to city.

• $38M Priddis-area home with 3 bedrooms to hit Alberta market
• Calgary's 10 most expensive homes

Laura Brady with Concierge Auctions says auctioning expensive homes isa growing trend for unique high-end properties that have a finite number of buyers.

It's difficult to know when a property will sell. This gives the seller control over their time line. They know on May 8they'll have a contract, she said.

Realtor Mark Evernden says it could be a benefit for buyers who might otherwise find themselves in a bidding war

You could end up spending $10-, $20-, $100-, $300-thousandover what the other guy was at, saidEvernden.

This is fully disclosed. Soyou're getting fair market value of what you're looking at.

Evernden says he has already received more than 1,100 inquiries locally, nationally and globally.

One home, just south of Spruce Meadows, includes a full equestrian barn, complete with horse stalls and a grand prix riding ring. The other is a 6,500-square-foot bungalow on a private lake in Bearspaw.

Spruce Meadows property: Equestrian barn

Spruce Meadows property: Home

Bearspaw bungalow