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News Article  
Lakefront property sells big for Spieth and Satow
COLDWATER, Mich. — Spieth and Satow Auctions and Appraisers have been in the auction business for nearly three decades, and are dedicated to hosting exciting and educational auctions.

Such was the case at a recent sale in Coldwater, when Darin Spieth and Dan Satow welcomed a large crowd to the estate of Thomas and Marilyn Shea. The auctioneering duo executed an efficient exposition, encouraging questions from attendees along the way. In addition to various smalls and household items, the main attraction for auction goers was the lake- front property and 1,800 square foot home.

Located on Lake Coldwater, the home and adjoining property was sold as a multi-parcel. In addition to the home and property, a 68 by 122 foot lot was auctioned. This lot had been developed by the Shea’s into a Japanese garden complete with cement statues, benches and Koi pond. Early on in the auction, a pair of Japanese pagodas sold for $50 a pair and a pair of cement benches brought $15.

Attorney Roy Brandes of Hillsdale was present during the property portion of the auction to oversee the real estate transaction and draw up the purchase agreement. The proceedings of the sale were also audio recorded for documentation purposes.

When the final bid was offered on the house, it was written down and put on hold while the vacant lot on the property was put up for consideration. That bid was also set aside. The house and the vacant lot were then put together and auctioned; that bid exceeded the initial individual bids. The bidding went back and forth, first allowing the two individual bidders to raise their offers, and then allowing the bidding on the combination an opportunity to raise the bid. When the combination bidder offered $600,000 for the house and lot together, the two individual bidders dropped out. A two-minute timer was started for one final opportunity to place a higher bid; when that time ran out, the final sale was confirmed. Both auctioneers thanked everyone who was involved, and said that this process had determined the market value of the property.

During the auction action, Spieth handled the auctioneer duties and Satow was on a second wireless mic offering additional information for auction goers. Ring man for the event was John Lowe and clerk duties were handled by Jim Fry. Amy Vix Nowicki served as cashier.

There was no sales tax or buyer’s premium charged. Prices listed here are the actual selling prices.

In addition to the lakefront home and adjoining property, other highlights of the auction included the sale of a 1994 21 foot Premier Sun Station Pontoon Boat with a 40-horsepower mercury motor. The auctioneers explained that the pontoon had recently been taken to the local marina to be acid washed. The boat had been moored next to the dock behind the house for the duration of the auction, and was available for inspection prior to purchase. It was offered with a clear title, but no trailer. After an exchange of bidding by auction goers, the winning bid was realized at $4,000.

Also auctioned from the waterfront was a 16 foot aluminum canoe. It was offered with only a bill of sale, and saw a final bid of $300.

Among the larger items sold was a 1960 Nash Metropolitan Convertible with 24,092 miles on the odometer. The yellow and white two toned gem bore a Michigan historical vehicle license plate. It had started life as a regular Nash sedan and somewhere along the way it had been converted to a sportier version. The bidding drove the price to $6,500.

A tan 2012 Chrysler Town and Country minivan loaded with features with approximately 70,000 miles saw a high bid of $14,000.

Among the smalls offered at this auction were a gold-rimmed Noritake china set for eight that included serving bowls and a matching tea pot that closed at $25. A pair of Royal Doulton England Toby jugs featuring Long John Silver and Smuggler dated 1951 and 1967 sold as a set for $10. A box of six detailed miniature buildings that were part of the Village Shop series by David Winte from the 1980s sold as a box lot for $10. A box lot of Lenox plates left with a $10 bid.

Two boxes of glass paper weights in various animal shapes saw a high bid of $15 per box. A Gorham Camellia silver set sold in its wooden box along with a salt and pepper set for $125, and an older model Kitchen Aid mixer with a selection of attachments claimed a high bid of $75. Elsewhere, tables of household merchandise were quickly emptied by Spieth with large groupings for choice bidding, including a stack of colorful Studio Nova plates from Jamaica, large soup mugs and Pyrex baking pans. These items all sold for $10.

The sale of the lakefront home included several kitchen appliances, but additional pieces were sold during the auction. An upright Whirlpool freezer sold for $65. A Sears dehumidifier left with a high bid of $60, and an Eden Pure electric heater found a new home for $30. Two complete bedroom sets that included a pair of twin beds with headboards and matching dressers were won with a high bid of $45 each. A glass table with a marble base closed at $15, a smaller round marble table was successfully claimed with a high bid of $20, and two pairs of metal outdoor chairs with cushions found a new home with a high bid of $25 per pair. A wooden and iron antique music stand was picked up with a final bid of $20, and two throw rugs were claimed with a high bid of $10.


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