A crowd of 46 bidders from five states and Canada gathered Saturday, March 10, at the gated Peninsulas subdivision to compete for luxury home sites in the development. And after about an hour and a half of bidding, 17 home sites in the division had sold for $1.6 million, with J.P. King Auction Company managing the sale.

“We had a great turnout, and people came ready to play,” said Craig King, president of J.P. King. “We had a lot to sell, but with a strong field of bidders, we were able to get these properties sold at some excellent prices.”

Prices on home sites ranged from $192,500 to $44,000, said King. Bidders came from Iowa, Nebraska, Texas, Arizona and Alabama, as well as British Columbia.

Bidders began arriving early to register and take a last look around the development, riding through the area to check out the lay of the land and the views offered by the various home sites. Back at the auction tent, others listened to live music and helped themselves to a buffet of pork roast, brisket and barbequed chicken.

“This is one of the prettiest lakes in the area, and the development is just gorgeous. It’s really set up for upscale homes, and today’s results reflected that,” said King.

Individuals interested in more information about the upcoming sale may contact the J.P. King at (800) 558-5464 or visit the company’s web site at www.jpking.com.

J.P. King is the nation’s leading auction marketing firm specializing in high-value properties such as superluxury homes, condominiums, ranches, land and developments. Upcoming sales include luxury condominiums in Florida and Maryland, as well as a luxury waterfront estate and development property in Arkansas.

Posted: 03|13|07 at 8:07 am. Filed under: Press Release.