The Coast News Group

El Milagro estate goes up for auction

ANCHO SANTA FE  — Concierge Auctions, a luxury real estate auction firm announced the auction sale of the El Milagro estate in Rancho Santa Fe. The auction will be conducted in cooperation with Laura Barry of Barry Estates. El Milagro was originally offered for $19.995 million and will sell to the highest bidder without reserve.

The auction of El Milagro, at 5425 Los Mirlitos St., will be held live on Aug. 15. A 2.5-percent commission is offered to the buyer’s representing broker. The property will be open for preview daily from 1 to 4 p.m. and by appointment. For more information, call (212) 257-5067.

Rancho Santa Fe is home to some of the world’s most luxurious estates, but El Milagro is in a category all its own,” said Barry. “The sellers invested $7 million in renovations and interior design – and that doesn’t even begin to speak to the unrivaled quality and exquisite beauty of the amenities. I have no doubt that it will be looked upon as one of the greatest estates built in the 21st century.”

A 21,000-square-foot estate unfolding across a 9-acre property, El Milagro has seven bedrooms and eight full and three half bathrooms. The space also has a regulation tennis court, game room, resort style pool, and Dave Pelz-designed pro putting and chipping greens.

The seller of El Milagro, Bill Walters, is an entrepreneur and sports betting icon. Walters, who has owned an auction company in the past, decided to sell his Rancho Santa Fe estate by auction because he knew the method would bring not only a high level of interest but also finality to the selling process.

“I’ve staked my livelihood on making risky bets. The safest bet I ever made, though, was on El Milagro,” said Walters. “When you have a timelessly gorgeous Spanish-Mediterranean estate set just minutes away from one of the best golf courses, one of the best schools, and one of the best race tracks in the entire world, you just can’t lose. I never thought I’d say this, but with El Milagro, ‘the house always wins.’”

Rancho Santa Fe is a 10-minute drive to the Del Mar race track. El Milagro is part of The Covenant, a private community within Rancho Santa Fe that has access to a riding club, garden club, and 60 miles of horse trails. Just a stroke is the Rancho Santa Fe Golf Club, a par-72 course designed by master architect Max Behr.

“El Milagro is arguably the most refined and elegant estate we’ve represented to date,” said Laura Brady, Founder and President of Concierge Auctions. “What’s more is that the community spirit in Rancho Santa Fe is also second to none. With a population of just over 5,000, The Covenant is still a bit undiscovered, so residents have this special camaraderie built around the knowledge that they are part of the few in on luxury real estate’s biggest ‘secret.’ At Concierge Auctions, we’re proud to be part of such a significant sale.”