RICHMOND, Ky. (AP) — A one-time tobacco farm that had been converted to a winery has now been converted to multiple tracts of land and a lot of equipment scattered about to new owners.
An auctioneer sold off the Acres of Land Winery in Richmond at a foreclosure liquidation sale Tuesday as the former owners attempted to settle more than $1 million in debt.
Kevin Jordan of Schrader Auction of Indiana told WKYT-TV and the Richmond Register that adjacent property owner Robert Minerich bought the Land's 415-acres for $730,000, about $1,825 per acre while the auction of winery and farm equipment totaled about another $250,000.
The $980,000 proceeds exceeded the $905,000 the Lands owed to Central Kentucky Ag Credit.
"The real estate was offered into tracts, the other side of the road and this side of the road with the winery and all of the buildings. Basically, a total liquidation here at Acres of Land winery," says Zach Hiner with Schrader Auction Company.
With panoramic views, Acres of Land is a popular venue for sightseers and family gatherings.
Lynn Curtis planned for her daughter's wedding at Acres of Land in September, but will have to find another option.
"The last thing I knew, we were still having the wedding, when I find out in the newspaper that they are having an auction and they're auctioning it off," Curtis says. "A wedding isn't just a frivolous thing, it's something you save up for your daughter to get married."
Curtis has already paid $3,000 to Acres of Land for the wedding. She says she's been in contact with the owners, who tell her she'll get her money back.
Minerich said he may use the land for farming, but will not revive the winery.