Grande River Vineyards sell for $2.8 million

PALISADE, COLO. (Oct. 24, 2006) – A crowd of more than 100 people – including 21 registered bidders – gathered at the Grande River Vineyards Tuesday for a two-hour J.P. King Auction that resulted in the sale of the land for $2.8 million.
 
Bidders came from Colorado, New Mexico and Utah for the sale, which ended with approximately 81 acres selling to six different buyers, according to Craig King, president of J.P. King, which managed the sale. “Most of the land we sold was zoned agricultural, and with a sale price of well over $34,000 per acre, you have to feel good about the outcome,” he said.
 
“This was really a strong turnout, with a wide variety of bidders,” said King. “We had some long-time farmers from the area, and of course some people interested in continuing the grape-growing tradition. We had one gentleman who said he planned to build a home on some of the land and lease out the vineyard land he purchased.”