Coronado Cays mansion to be auctioned off in Hong Kong

A mansion in the Coronado Cays that has yet to find a buyer after nearly two years will be part of an auction in Hong Kong.

The newly built mansion at 3 The Point had previously made The San Diego Union-Tribune’s list of luxury homes sitting on the market the longest. It went on sale in November 2023 for $43 million, but has had its priced reduced to $37.5 million.

Concierge Auctions, a New-York based luxury real estate firm majority-owned by Sotheby’s and Anywhere Real Estate, is holding the auction. Bidders can start putting in offers on its website on Sept. 5, and the live auction kicks off Sept. 18 in Hong Kong.

The auction will be held at The Upper House, a hotel called “one of the most lavish addresses in all of Hong Kong” by Conde Nast Traveler. Bidders, who do not have to be physically present at the auction, will likely be very affluent because a $100,000 deposit and proof of funds is required.

“3 The Point exemplifies what today’s global luxury buyer is seeking: privacy, innovation, beauty and  direct access to nature — in this case, the Pacific Ocean,” said Bob Buttaro, a vice president at Concierge Auctions, in a news release. (It should be noted 3 The Point faces the San Diego Bay, but the ocean can be seen from its roof).

The Coronado property is owned by a trust operated by the Call family, whose patriarch, Jay Call, was the founder of the Flying J. Fuel Co., a major chain of truck stops across North America. After a 2009 purchase, the company is now called Pilot Flying J.

Concierge Auctions said starting bids for the property were expected to run $15 million to $23 million. The company has been around since 2008, auctioning high-end estates from Hawaii to Indonesia. An 80% stake in the company was acquired by Sotheby’s and Anywhere Real Estate in 2021.

The Coronado property is sandwiched on the auction website between properties from Florida’s Golden Beach to Lopez Island off Washington state.

3 The Point is 11,715 square feet and has views of San Diego Bay with floor-to-ceiling windows throughout, a theater, and a 3,600-square-foot rooftop deck with a pool spa, and small golf course. It has seven bedrooms and 9 1/2 bathrooms. The property has 320 feet of private bayfront, so there is plenty of space for yachts or other watercraft.

Other properties confirmed for the Hong Kong live auction include a 22,000-square foot property on New York’s Gold Coast in Long Island and a 10.1-acre ranch near Aspen, Colo. Concierge Auctions said the live auction is an opportunity to reach international buyers and its annual bidding, called the Hong Kong Global Sale, tends to be one its most anticipated events.