Ritchie Bros. Auctioneers announced they are holding a large, unreserved real estate auction on behalf of The Jewel in Lake City - a local, master-planned golf community in Minnesota. The current unsold properties at the Jewel will be sold in the unreserved auction to take place on Sept. 23, 2006, as well as the Hale Irwin-designed golf course, the clubhouse, and maintenance facility.
"While we have already successfully sold over 450 home sites, we want to accelerate the pace of home-building on the Jewel to accomplish our goals for the project, the partners, and existing Jewel residents," says Doug Wallerich, Chief Manager of the Jewel. "We have been watching the way Ritchie Bros. sells real estate, and know it's the best way to sell these properties."
Everything will sell to the highest bidders in the unreserved Ritchie Bros. auction. This event, which will be held right at The Jewel in Lake City location - 1900 Clubhouse Drive, Lake City, MN - will feature a live, on-site auction with simultaneous online internet bidding.
Ritchie Bros. will be attracting interest from its customer base of more than 400,000 potential buyers in North & South America, Europe, Asia, Australia, and the Middle East.
"It's amazing and exciting to think that we will be offering our prime recreational, resort and commercial property for sale to a vast world-wide audience, many of whom are developers, builders and investors familiar with Ritchie Bros. because it is the largest equipment auction company in the world," Wallerich says. "This will be a very large real estate event."
All Ritchie Bros. auctions are unreserved, meaning each item is sold to the highest bidder, regardless of price. There are no minimum bids, reserve prices or buyer's premiums.
In the meantime, it's business as usual for The Jewel, with the golf course operating in the normal fashion. People who are interested in purchasing any of the property, including the golf course, are to contact the Ritchie Bros. Auction Information Center at: 651-345-4653 or 877-345-4656. More information about this auction can be found at www.rbauction.com/property.
The Company held a press conference July 11 to unveil plans for the auction as well as to announce events leading up to the auction, including the Grand Opening of the Auction Information Center on Aug. 5, 2006, and a NFL Hall of Fame charity golf tournament taking place on Aug. 13 and 14 at the Jewel Golf Course.
Grand opening Aug. 5:
Ritchie Bros. announced today that the Auction Information Center at The Jewel Golf Club will have its official Grand Opening on Saturday, Aug. 5. That day, 1/2 price green fees will be available for those wishing to play golf at the Jewel, and there will be free community tours to those who come to learn more about the Sept. 23 auction.
