Saturday, July 29, 2006

Historic Breckenridge Home Up for Auction

A pricey piece of Breckenridge's rich gold mining history is coming up for sale Aug. 8 - to the highest bidder.

An historic mansion built 108 years ago by "Gold Dredge King" Ben Stanley Revett, one of Summit County's earliest colorful characters, can be all yours at an Aug. 8 auction - if the price is right.

"It's like selling an antique," said Craig King, president and CEO of J.P. King Auction Company, the national auction house organizing the public sale of the historic home and property.

Current owners Glenn and Mary Campbell operated their former business, Tiger Run Tours, near the property until selling the business in 1992.

The mansion sits on more than 14 acres, right along the edge of the nearly pristine White River National Forest, and features an anachronistic mix of century-old design features and modern amenities. The five-bedroom, three-bath home has a huge front porch and wood burning fireplace along with modern additions like a two-car garage and separate outbuilding with room for three or more cars. There are other modern touches like a hot tub and contemporary kitchen, as well as historical reminders throughout the home, such as a period crystal chandelier that dates to 1878.

Aug. 8 is setting up to be an exciting day, as King's auction company has launched a national promotional campaign to draw potential buyers to Breckenridge for the big auction. Ads in the Wall Street Journal and national magazines like the Robb Report are likely to bring interest from across the nation for the historic property.

"There are people out there that like to own historically significant properties," King said.

"We've got a 108-year old home here, and we feel like there's going to be a lot of interest in it."

Auction selling, however, has some marked differences to traditional property sales. In essence, potential buyers are required to do all of their legwork in advance - lining up financing, inspections, and answers to their questions about the property well before the bidding begins.

"When you're bidding at auction, you're bidding on a non-contingent basis - meaning that once you buy it, it's yours. So you need to be familiar with what you're bidding on," King said.

In the weeks leading up to the Aug. 8 auction, tours of the property are available by appointment through the auction company. A comprehensive information packet about the property and all the contract details is available online at up until the date of the auction. Interested buyers can also schedule an appointment by calling J.P. King at (800) 558-5464, or emailing

The auction will start at 11 a.m., and "once the bidding opens, it probably takes just 10 to 15 minutes to actually sell the property," King said.

You're likely wondering if the Revett property will sell for a price in or around your own personal ballpark. The most recent assigned value for the property: $2.7 million.

No comments: