Kern River resort sells at auction for $1.26 million

BIRMINGHAM, Ala. (Oct. 20, 2008)  – The Kern River Golden Trout Resort in Kernville, Calif., sold for $1.26 million Saturday, Oct. 18, in a two-hour auction that pitted buyers seeking to buy the entire resort against others who only sought to purchase part of it.

Thirteen bidders gathered on the deck of the 24-room Golden Trout Resort for the auction, with Albert Burney Auction Company managing the sale. After a prolonged bidding contest, the property went to Tice Development LLC, of Bakersfield, Calif., which purchased the entire property.

The resort is located on the Sierra Highway and has approximately 600 feet of frontage on the Kern River. “By offering the property in four parcels, we were able to open up the process to more bidders, including those who only wanted parts of it. But in the end, the highest bid was for the property as a whole,” said Warren Ward, president of Albert Burney Auction Company. “As I understand it, the buyer plans to move forward with the seller’s dream of expanding the resort,” he said. “This also shows that there’s still a market for good properties even in this current economic climate, especially when you market them effectively. When so many real estate professionals are finding it difficult to get prospects, it’s really gratifying to have 13 bidders competing vigorously for a property,” said Ward.

Albert Burney Auction Company, headquartered in Gadsden, Ala., is a leading real estate auction firm specializing in developments, luxury homes, resorts and other high-value properties throughout the United States. Upcoming sales include a game ranch in Albright, W.Va., and an equestrian estate in Keswick, Va.

Individuals interested in additional information about those and other sales may contact Albert Burney Auction Company at 800.434.1654 or visit the company’s web site at www.albertburney.com.