50° CLEAR, NAPA
Kirkland Ranch auction falls short
Last Modified: Friday, December 12, 2008 at 5:50 a.m.
The sealed bid auction for Kirkland Ranch winery in Napa earlier this month did not generate any qualified bids for the property.
The Dec. 3 auction created significant interest in the Jamieson Canyon Road winery and even a few bids, but none that was over the reserve prices of $22 million for the 69-acre winery property or $26 million for the winery plus an additional 186 acres.
"The auction process was a little bit counterintuitive to the way that buyers acquire wineries and vineyards, and it wasn't particularly conducive to getting a deal done," said Robert Nicholson, principal of International Wine Associates of Healdsburg.
The Western-themed winery, which has struggled to effectively market its wines, will now go back on the market in search of a buyer, Nicholson said.
The reserve prices set for the auction are no longer valid, and the winery is accepting offers.
"We'll get it sold," Nicholson said.
-- Kevin McCallum
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