Trending: Mega-Million Luxury Home Auctions

Photo by: Sotheby's International Realty Perched on sought after East Lake Shore Drive, this luxurious Chicago condo features state-of-the-art lighting scheme, warm wood and generous rooms.

For the high-net-worth buyer or seller, luxury home auctions are gaining momentum as a viable matchmaker venue. This is leagues apart from foreclosures or distressed sales. Instead, imagine a process similar to auctioning a fine rare wine, an Andy Warhol original or Elizabeth Taylor's stunning jewelry collection. Looking to sell? With a house, you can place it with a company like New York-based Concierge Auction, specializing in the crème de la crème of real estate and touting a Who's Who portfolio of some of the most prestigious properties and clientèle in the country. Ready to buy? Bid online, by phone, via proxy or in person.

And apparently there's plenty of inventory in the luxe home market, and an even wider price range. While Dolly Lenz, broker to the very rich and usually famous (Barbara Streisand, Billy Joel) closes deals north of $100 million on CNBC's Secret Lives of the Super Rich, Concierge targets listings that fall between $2 million and $20 million. Like this Lake View condo, offered by Tim Salm of Jameson Sotheby's International Realty, one of Concierge's preferred partners.

Chicago's own Dirk Denison, a multiple award-winner for interior architecture, invested two and a half years of renovation on the handsome three-bedroom, five-bath home. Perched on sought after East Lake Shore Drive, we're smitten with Denison's state-of-the-art lighting scheme, warm wood and generous rooms. The scale is grand. A master suite with spa bath (yes!), gallery-sized walls to hang those Roy Lichtensteins, closets big enough to hide an elephant, and sweeping east lake views. A tasty, regal bit of guilt-free window shopping. Asking $7.2 million.  

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