PREMIER AUCTIONS : News
 

Two auctions in two days -- $3,273,960 in sales

A 125-acre development property overlooking a golf course and a 2,881-acre wilderness sold at auction Friday and Saturday for a combined $3,273,960 in sales, with J.P. King Auction Company, Gadsden, Ala., managing both sales.

 

“Even though we had two very different properties, both attracted a great deal of attention, resulting in very successful sales,” said Craig King, president of J.P. King.

 

In Poway, the 125± acre property on Old Coach Road overlooking the Maderas Golf Club sold Friday for $2,214,960 – to the owners of the golf club. And the next day, the 2,881-acre Horse Canyon in Tehachapi went for $1,059,000.

 

The Poway development property sold after only 20 minutes of bidding to Uri Feldman, representing Sunroad Asset Management, of LaJolla, which owns Maderas Golf Club. The auction – held at the golf club – attracted 22 registered bidders from California and Nevada.

 

On Saturday in Kern County, 10 different bidders snapped up portions of Horse Canyon in an auction that ran for more than three hours. That sale attracted a total of 53 registered bidders.

 

Seller Carlos Royal said he was pleased with the outcome of both auctions.

 

“It was fun and exciting and was a very interesting process to see,” said Royal. “We’re happy. We’re excited. We’re moving on,” he said.


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