"While we hoped for a higher price, we knew there was a range of outcomes and own up to the bet we placed," he said in the written statement, while praising the work Concierge Auctions put into it.
Because Garber didn't set a minimum price the home sells to the highest bidder - whatever the price.
The home was put under contract through a live auction on Wednesday evening. Only registered bidders were allowed to attend.
A spokeswoman for Concierge Auctions said they will disclose the sales price after the transaction closes.
EARLIER: We have a case of real estate envy over at 512tech.
Ross Garber, a co-founder of software company Vignette that was sold for $310 million in 2009, is selling his 9,000-square foot Rob Roy mansion in Austin using an auction service called Concierge Auctions.
But what really caught our attention was the high-end production video put together to show off the house (above), featuring paid actors and a short-skirted guide who takes you on a walking tour of the property.
Ross Garber makes small cameo in the outtakes section at the end, handing a binder to the builder.
The six-minute mini-movie showcases the 3.6-acre estate, which overlooks a canyon and is surrounded by 400 undeveloped acres. There's a 50-foot infinity lap pool, a regulation-size basketball and tennis court, a private 1,000 square-foot gym separate from the main house and a 950-square-foot apartment.
Car enthusiasts will find much to drool over because the video also features close-ups of a Jaguar, Ferrari, Lamborghini, Mercedes and Tesla, among others. Wine collectors won't be disappointed with the glimpse of the custom wine cellar, which stores over 2,000 bottles of wine and has special temperature and humidity controls.
Concierge Auctions has plenty of experience marketing luxury properties.
A peek at their YouTube channel unearths this 2013 video showcasing former NBA player Michael Jordan's 56,000-square-feet Chicago-area mansion.
Tax records show the property is appraised at nearly $6 million. Though tax records indicate the main house was originally built in 1998, Concierge Auctions said there was major remodeling completed in 2012.
According to the auction company, it is designed by architects Miro Rivera and The Shiftlet Group. The builders were Dalgleish Construction and White Construction.
A Concierge Auctions news release says they are going to start taking appointments to see the house today (Wednesday). It had previously been on the market for $16.9 million. The auction date is set for May 25.
The auction is done with the "cooperation" of Gary and Michelle Dolch of Kuper Sotheby's International Realty.
Interestingly, there's no reserve price, meaning that there is no minimum bid.
Newcomers to Austin's tech scene might not remember Garber's software company, but at one time it was one of the better-known local tech companies, with a market value at its peak of $15 billion and 2,330 employees.