Faircloth Estate Auction - The Bidding Is Over
By joaniemiller | March 18, 2008
Our team attended the Faircloth Estate Auction, hosted by Roebuck Auctions, last Friday at the Marriott in Bay Point. So what was the fuss all about?
Charles Faircloth was a well known developer in Panama City Beach who passed away recently. His estate auction, consisting of 150 +/- properties, was one of the largest auctions that we know of to be held in our area. Some of the properties included were large scale commercial tracts of land, beach front condos and town homes.
The auction itself was interesting. It was a packed house having nearly a thousand people. Everywhere you looked there where crowds of bidders, news channel crews and residents standing at the doors to see what was happening. We arrived when what looked like The Sands condominiums was being bid on.
Ruben Carter, formerly of the Denver Broncos and now A&M Head Coach also came to the auction and was the high bidder of a town house located near Treasure Island Condominiums. He stood up as the auctioneers thanked him for coming.
Here is a list of some of the most sought after properties available and what their highest bid was:
Legacy Beach Resort - High bid of $27.5 million
The Breakers - High bid of $5.7 million
Surfside Village - High bid of $4 million
15.9 Acres of Commercial land on Hwy 98 near Hathaway Bridge - High bid of $131,900/per acre.
Dorthy Ave town houses - High bid of $123,000 to $124,000 per townhouse
17825 Front Beach Road (a 4BD/2BA Gulf Front Home) - High bid of $857,500
17823 Front Beach Road (a 5BD/3BA Gulf Front Home) - High bid of $750,000
17817 Front Beach Road (a 7BD Gulf Front Home) - High bid of $1.395 million
Gulf Crest Condominium 3BD - High bid of $460,000
Two Treasure Island 3BD’s - High Bid $510,000 and $485,000
Hidden Dunes 505 - High Bid of $525,000
Most of the properties that were up for bid were sold “Subject To” so do not take these prices as actual sold prices.
Topics: Events |