MIAMI -- The Platinum Condominium in Miami is one of many new buildings to be built during South Florida's recent building boom.

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Now that the market is cooling, the building's remaining units will be sold at auction.

The building is complete with a hot tub, fitness center, stainless steel kitchens and marble baths. Most units overlook Miami waterways, so it is hard to imagine that finding buyers would be difficult.

Louis Fisher of Fisher Auctions said the main reason for rushing sales and auctioning off the units is to accelerate the sales process.

"We are able to sell 20 units in one day," he said. "And in a market such as this, sales are slow. The market is soft, and what we are trying to do is motivate buyers into this project, give them an opportunity to buy at their price."

Since peaking in late 2005, real estate prices in South Florida have dropped as much as 30 percent in some neighborhoods. Many buildings that broke ground at the height of the market are just finishing construction and entering a saturated marketplace.

The Platinum Condominium is a brand new, 119-unit building located in Miami's Design District. On Sept. 20, the remaining units will be auctioned off, some with an extra incentive.

"Eight will be sold absolute, to the highest bidder regardless of price," Fisher said. "There are no minimums and no reserves. So whatever the high bid, they will sell."

The auction is drawing interest from real estate professionals who have seen slow sales over the last year.

"I think that there have been a lot of buyers that are waiting on the sidelines and have had their eye on the Miami condo market," Realtor Lucas Lechuga said.

Click here to find out more information on the auction.

Click here to go to Lechuga's blog on Miami condo investments.