Large Property in Pershing County, Nevada to be sold at unreserved Ritchie Bros. auction

. February 21, 2008

LOS ANGELES, Feb. 21 – Approximately 6,700 acres of residential/recreational land located in Pershing County, Nevada will be sold at an absolute unreserved auction in Los Angeles on Tuesday, February 26, 2008. Over 160 parcels of land (each approximately 40+/- acres in size) will be sold as 19 separate lots to the highest registered bidders on auction day. Ritchie Bros. Auctioneers will be conducting this strictly unreserved auction – meaning there are no minimum bids and no reserve prices on the Pershing County lots being sold.

“This is an exceptional opportunity for people to buy property at a truly unreserved auction,” said Kieran Holm, Ritchie Bros. Regional Manager. “This means that there are no minimum bids or reserve prices and all 6,700 acres will be sold to the highest bidders on auction day, regardless of price.”

Additionally, the property, which is located east of Lovelock, approximately 90 miles north of Reno, Nevada in the Humbolt River Valley, was subdivided before June 30, 2007. What is so significant about this date? The Pershing County Development Code states that parcels in the Agricultural-Mining-Recreation (AMR) district that are less than 160 acres (or a quarter of a section) in size and were created prior to June 30, 2007 have one residential building right. Subsequent subdivisions may not necessarily come with residential building rights. Contact the Pershing County Planning and Building Department for details.

The Pershing County property being sold in Los Angeles is part of a larger, unreserved industrial and agricultural auction. The Los Angeles auction will be held on Tuesday, February 26 and Wednesday, February 27, 2008. In addition to the Pershing County property, over 1,000 industrial and agricultural equipment items will be sold at the auction including over 40 wheel loaders and more than 30 truck tractors. There are three ways to bid for the items being sold in Los Angeles:

1. Attend and register to bid at the unreserved industrial auction in Los Angeles located at the Ritchie Bros. Auctioneers permanent auction site on 765 West Rider Street, in Perris, California; 2. Register online to bid using the rbauctionBid-Live service. You’ll be able to bid in real time over the internet, while you are watching the live auction take place on your computer. You must register at least 48 hours in advance in order to use rbauctionBid-Live. For more details on the service visit www.rbauction.com; or 3. Place a proxy bid by calling the auction site ahead of the sale, and Ritchie Bros. Auctioneers will bid during the auction on your behalf, up to and including the maximum bid you have given.

The unreserved industrial auction starts at 8 a.m. on Tuesday, February 26 and Wednesday, February 27, 2008. The Pershing County lots will sell at approximately 11 a.m. on Day One of the auction (Tuesday, February 26). The auction is open to the public. Interested bidders must register before bidding; registration is free. Further information about the auction, including detailed documents on all lots being sold, and information about the property and surrounding area, is available at http://www.rbauction.com/pershing_county.

Category: Auction News

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