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Kenai River Estate Brings $1.43 Million at J. P. King Real Estate Auction

KENAI, Alaska--(BUSINESS WIRE)--On August 12, the Kenai River Estate sold at an absolute real estate auction event for $1.43 million. The estate was marketed and sold by J. P. King Auction Company, the nation's leading real estate auction marketing firm.

"I think this has opened the door for other opportunities in this area as owners have seen that this is a successful way to sell high-end real estate."

Eight registered bidders from Idaho, Texas and Alaska attended the event. Forty others arrived to watch the process, while enjoying the salmon, rice and smoked chicken hors d'oeuvres with live music that are typical of a J. P. King event, all while also enjoying the spectacular views of the Kenai River and Cook Inlet.

"It was certainly the most professionally-handled auction I've ever attended," said Fred Braun, a real estate broker with Freedom Realty in Kenai. "I think this has opened the door for other opportunities in this area as owners have seen that this is a successful way to sell high-end real estate."

John McCallam, a rancher in Idaho, bought the property yesterday through a power of attorney and was "totally overwhelmed" upon learning he was the successful bidder, said Braun.

"It was a great day for us," said Craig King, president and CEO of J. P. King. "We were able to sell a property in our 50th state, and we have a happy seller and an excited buyer, who has just begun to explore ideas of what to do with his new home."

For additional information on real estate auctions and upcoming events in other parts of the country, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.

J. P. King Auction Company specializes in high-value properties and portfolios such as homes, developments, condominiums and land and ranch, as well as commercial properties. The company has marketed properties in all 50 states and six countries with recent sales in Texas, Tennessee, Oregon, Wisconsin, Alabama and Wyoming.

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