Piedra Springs Ranch to Sell in J.P. King Auction
Piedra Springs Ranch, a scenic recreational and equestrian property spanning both sides of the Piedra River and bordering the San Juan National Forest, will sell at auction Tuesday, Oct. 30, with J.P. King Auction Company managing the sale.
The ranch of approximately 242 acres has been owned since 1989 by Sam AlDabbagh, who purchased it to give his racing Thoroughbreds a high-altitude training ground, according to Craig King, president of J.P. King.
“Mr. AlDabbagh trained numerous horses there because he found that once they had adapted to the air at 6,000 feet, they had more endurance at the tracks in New Mexico, California and other areas where they raced,†said King.
In recent years, it has served as a private retreat for AlDabbagh, who has retired from the racing business and lives in Las Vegas.
“When I first bought the property, I could hardly believe it. The ranch has about a mile of river frontage and about a mile of border with the national forest, which gave my family access to virtually unlimited land for riding, fishing, hiking and other outdoor activities,†said AlDabbagh. The ranch has approximately one mile of frontage on U.S. 160, including land on both sides.
The ranch also has a large home and cottage, two barns, stables and corrals, and a lake of approximately eight acres. Previously was listed for $9.5 million, it will sell to the highest bidder at or above a minimum bid of $4.9 million.
Earlier in 2007, J.P. King sold AlDabbagh’s horse ranch in Murrieta, Calif. “I was very pleased with the outcome of that sale, and it encouraged me to move forward with the sale of Piedra Springs Ranch,†he said.
The auction will begin at 1 p.m. at the ranch, located at 701 County Road 175, Bayfield.
J.P. King, based in Gadsden, is the nation’s leading auction marketing firm specializing in high-value properties such as ranches, superluxury homes, condominiums, land and developments. Recent sales have included a cattle ranch in Colorado, a horse farm in southern California, and condominiums in Florida.
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