Old Trail Ranch Sells for $2.38 Million in J.P. King Auction

Business Wire, June 16, 2006

DURANGO, Colo. -- Bidders from Colorado, Texas and Arizona gathered on a knoll at Old Trail Ranch in Bayfield Saturday to compete for the property, and after more than an hour of bidding, the ranch was pronounced "sold" for $2,381,500.

Purchasing the ranch was Paul Dugas, of Mesa, Ariz., according to Craig King, president of J.P. King Auction Company, which managed the sale.

"As I understand it, Mr. Dugas and his family have been in the real estate and building business for a number of years, so they were in a position to appreciate the merits this property," said King.

The ranch was offered in four 35-acre parcels - one with the main house, one with a guest home, and two land parcels.

"We really didn't know if this would sell to several different buyers or if someone would want it all for himself. As it worked out, Mr. Dugas was the high bidder for each of the four parcels, so he'll be the new owner," said King.

Friday's auction marked the second time J.P. King has sold the property. The company also auctioned it in 2000 when it was called Sacred Stone Ranch.

J.P. King is the nation's leading auction marketing firm specializing in ranches, luxury homes, condominiums, developments, and other high-value properties. Upcoming sales include 180+/- acres of residential development land in Westcliffe, Colo., a 5,400+/- acre farm in Saguache County, Colo., and water view condominiums in Door County, Wis. Individuals interested in 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.