Nelson Auction Nets More Than $6 Million - KCBD NewsChannel 11 Lubbock

7/15/06

Nelson Auction Nets More Than $6 Million

We've been telling you about it for weeks, and Saturday more than 1,100 items belonging to Jonathan Nelson hit the auction block.  Money raised goes toward repaying the $77-million Nelson admitted to stealing from former employer Patterson U.T.I.  

"There's more toys than any one family, ten families could ever enjoy," said bidder Brad Godwin.  He had his eye on a helicopter Saturday, but left the auction empty handed.

"It was looking good for a while, and somebody just came in over what we were looking to bid," said Godwin.

If you're wondering, Godwin works for an aviation company.  The winning bidder, calling in all they way from Georgia, claimed the chopper for $455,000.  $125,000 got one bidder a BMW Roadster, while another bidder took home a Cessna 310 for the same price.

"I think the items are going really high," said bidder Phyllis Clary. 

Probably just as impressive as the items up for auction are the amount of people who came out to bid on them.  We went airborne to show you just how many people showed up.  Cars lined all roads leading to Town and Country Airport.  Some folks parked on 114th Street were almost to the interstate.

"It's just a once in a lifetime experience, and they just want to invest in the experience," said Clary. 

"There was definitely some deals to be had; you just had to know what you're bedding on," said Godwin. 

Bobby Love with Ritchie Brothers Auctioneers tells NewsChannel 11 that Nelson's items netted between $6.7-million and $6.8-million.

Now that Nelson's "toys" have been auctioned, a second auction will be held to sell Nelson's houses, properties, and businesses.  J.P. King Auction Company is expected to hold that auction in August. They are still waiting on final approval from the Federal judge here in Lubbock for the dates and times.  

Complete List of Nelson Auction Items
Click here to take a look at the more than 1,100 items to go on sale July 15th!

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