Auctioneers Prepare To Sell More Of Nelson's Assets - KCBD NewsChannel 11 Lubbock

7/17/06

Auctioneers Prepare To Sell More Of Nelson's Assets

3,300 people showed up, Saturday, to make bids at the Town and Country Airport.

Bidders purchased more than $7 million worth of classic cars, airplanes, watercraft and more. The money will go toward paying back the $77 million Nelson admitted to stealing from his former employer, Patterson UTI.

Here's a look at some of the big sellers: A helicopter sold for $455,000. A Fountain Lightning boat went for $210,000. A 54-Chevy Corvette convertible sold for $117,500. A Cessna went for $140,000. Someone bought Babe Ruth memorabilia for $9,500. A Michael Jordan autographed jersey sold for $6,000.

But, there's still more property to be sold. A multi-million dollar home in the Rush neighborhood, 13 acres, with a shop, in Scurry County. Houses and property in Ruidoso, the Chisum Travel Center and even the Town and Country Airport, where the auction took place.  Also, land and property in Lubbock County, Lake Travis, Snyder, Levelland and Possum Kingdom.

JP King Auction Company is waiting for approval from a judge on when to hold the next auction, but they expect it to be sometime in August.

List of Property in Nelson Auction
Take a detailed look at the property up for sale in the Nelson Auction.

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