14,000 Acres Of New River Gorge Land Sell For $12M

By: Associated Press
By: Associated Press

Beckley, W.Va. (AP) -- An auction company has sold more than 14,000 acres in West Virginia's New River Gorge for $12.25 million.

Woltz & Associates of Roanoke, Va., says the three-phase auction drew about 140 people and 51 registered bidders.

In the end, seven buyers split up the land through a combination of sealed bids, a private sale and a live auction at Tamarack in Beckley.

On Thursday, president Jim Woltz said 2,814 acres in Fayette, Raleigh and Greenbrier Counties sold for $1.85 million at the live auction.

Before that, more than 10,000 acres were sold for $8.3 million through sealed bids, and 1,584 acres in Fayette County sold for $2 million in a private transaction.

He did not identify the buyers.

(Copyright 2009 by the Associated Press. All rights reserved.)

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