Lake Mancos Ranch, Additional Acreage Sell at Auction for $1.656 Million in J.P. King Auction (complete article from source)
Source: BusinessWire.com
October 10, 2007
MANCOS, Colo.--(BUSINESS WIRE)--Tuesday’s auction of Lake Mancos Ranch and related land attracted a dozen bidders from five states, resulting in a sale of all the properties for a total of $1,656,600. J.P. King Auction Company managed the sale.
The day’s biggest buyer was Thad Trujillo, of Durango, who purchased approximately 200 acres of land next to the Lake Mancos Ranch for $726,000. The guest ranch -- which has hosted such notable guests as former Secretary of State Henry Kissinger, New York Governor Nelson Rockefeller and comedian Johnny Carson -- sold to Ernest Noai, of Palm Springs, Calif., for $550,000.
A separate property – approximately 200 acres a few miles to the east – sold for a total of $380,600 to two different buyers.
“We appeared to have a healthy mix of people buying property for their own use as well as some investors, and we had a positive outcome,” said Craig King, president of J.P. King. “There’s a great deal of demand for land in southwestern Colorado. You just have to cast a wider net than usual in today’s market to get their attention,” he said.
J.P. King, based in Gadsden, Ala., is the nation’s leading auction marketing firm specializing in high-value properties such as superluxury homes, condominiums, ranches, land and developments. Upcoming sales include a ranch in Bayfield, hunting land in Georgia and Wisconsin, and townhouses in Jacksonville, Fla. Individuals seeking additional information on those and other sales may contact J.P. King at 800.558.5464 or visit the company’s web site at www.jpking.com.
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