Hicks Farm sells at auction for $1,775,000

WYNNEWOOD, OKLA., Oct. 22, 2005 – After a 90-minute bidding war, Hicks Farm sold for $1,775,000 in a J.P. King auction that attracted 16 bidders from four different states.

Local bidder James Lewis, of nearby Davis, Okla., emerged as the successful bidder, purchasing the property in its entirety. But he had to outbid several other individuals who were seeking individual parcels or combinations of the 10 parcels. In J.P. King's multiple-parcel auctions, the property sells in whatever combination brings the highest total price for the seller.

Sellers Eddy and Leslie Hicks were pleased with the outcome and with the process itself. ""It's clear that we made a good decision going with J.P. King. We were very happy with the professionalism with which the entire campaign was run,"" said Mrs. Hicks. “We're very pleased with the result, and with who ended up purchasing the farm, because our families have been good friends for years,” she added.

Bidders came from Oklahoma, Texas, Utah and Florida for the sale. A crowd of approximately 75 gathered in the auction tent adjacent the French Country style estate, enjoying Mexican food and live music while waiting for the bidding to begin.

The couple plans to move to the Mississippi coast, where they will be  part of the rebuilding effort, she said. 
J.P. King used a “multiple-parcel” bidding system in which bidders were allowed to enter bids on individual parcels or any combination of parcels, including the entire farm. Parcels ranged from 13 acres to 309 acres, with the home selling as part of a 26.5-acre parcel.

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