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In Rare Fail, Tech Entrepreneur Falls Short on Luxury Home Auction Sale

Former Vignette CEO Ross Garber's Rob Roy estate fetches less than anticipated

When Vignette software company co-founder Ross Garber put his 3.5 acre, luxury Rob Roy estate on the (upscale) auction block in April, he did it in a very public fashion. Concierge Auctions issued an announcement about the unusual sale method for such an exclusive property and pulled out all the stops with photos, publicity, an offhand display of his many high-end sports cars, and an extremely well-produced sales video.

The home was duly auctioned on May 25 and, according to the Austin American Statesman, Garber is being equally public about the fact that he didn't get the price he was looking for. The paper reported that Garber related via Concierge press release that the family wanted "a superior vehicle for time, liquidity and price," by choosing to auction the home, "and we accomplished two out of three." The story added that Concierge will discuss the price once the deal is closed.

Garber and his wife originally listed the 8,237-square-foot house and grounds for $16.9 million, a listing we wrote about here. We also reported on their unconventional decision to auction the art-filled, one-of-a-kind house—with no reserve (minimum bid), at that. In the latter article, Garber was quoted as saying he believed the kind of auction he planned would be the most common method of selling unique luxury properties in the future.

Here's how you can own a former Austin tech CEO's multimillion-dollar mansion [AAS]

Austin Tech Entrepreneur's Multimillion-Dollar Estate to Be Sold at Auction [Curbed Austin]

Rob Roy Estate Highlights Art, Views, Wine for $16.9M [Curbed Austin]