NASHVILLE, TN--(Marketwire -07/13/12)- The 78-acre estate of country music legend George Jones is available for sale through J. P. King Auction Company. The Country Gold Estate, which includes Jones' 10,000 square foot home, attracted 21 bidders on the July 7 auction, where the land parcels surrounding the property brought competitive bidding.
The auction was a reserve sale, meaning the Joneses had the option to accept or decline the highest bids. The property was divided into five parcels, one of which featured the home on 24 acres. The other parcels contained land with ponds, rolling hills and several outbuildings. While the property received competitive bids on Saturday, the reserve price was not met, so the Joneses opted to continue to sell the property through post-auction efforts.
"Often times auctions can be confused with a distressed property," said Craig King, president and CEO of J. P. King Auction Company. "As with most of our properties, this sale was not conducted out of desperation or distress for George and Nancy. The Joneses are motivated sellers and are ready to move to the next phase of their lives. They wanted the market to come to them on their timeframe, and that's the perfect situation for a luxury auction."
Leading up to the sale, J. P. King received inquiries from 70 parties from 18 states. On auction day, 21 bidders, along with a crowd of over 100 onlookers, attended the auction.
J. P. King remains the broker on the home and will work on the Joneses' behalf to sell the property. For additional information or a tour of the home, interested buyers may contact J. P. King at 800.558.5464 or Terry Ivey at 859.221.6010. Additional information is also on the company's website at www.jpking.com.
About J. P. King: J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums and land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Wyoming, Georgia, Florida and Washington.
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- George Jones
- Craig King
Caley King Newberry