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CELEBRITIES, ROYALTY READY FOR BIDDING WAR AT JUNE 11 AUCTION OF CRAWFORD FARMS, 'THE ULTIMATE TEXAS RANCH'

 CELEBRITIES, ROYALTY READY FOR BIDDING WAR AT JUNE 11
 AUCTION OF CRAWFORD FARMS, 'THE ULTIMATE TEXAS RANCH'
 CARRIZO SPRINGS, Texas, May 20 /PRNewswire/ -- While H. Ross Perot considers the presidency, he has also shown strong interest in the grandeur of Crawford Farms, the showplace Texas ranch that will be auctioned "absolute" -- regardless of price -- from the premises here on Thursday, June 11, at 2 p.m.
 According to William Bone of the J.P. King Auction Company, Perot has been contacted regarding the auction as have such previous celebrity visitors as legendary golfer Jack Nicklaus and country singer George Strait, along with singer Billy Joel and his wife, supermodel Christie Brinkley.
 "All can be considered potential bidders," said Bone, who directs the New York office of J.P. King, the nation's oldest real estate auction firm. "It's only natural that someone with the means would be attracted to Crawford Farms. This is the yardstick by which all ranches and farms are measured."
 Bone said that several well-known entrepreneurs have expressed interest, including Texas oilman and horseman Will Farish, a former business partner of President Bush. Several royal families have also been contacted. A heavy turnout is expected on auction day.
 With its mansion the size of a football field and world-class horse arena, Crawford Farms is the lifelong dream of Don Crawford, who made a fortune in gas compressor fabrication. The ranch, completed in 1982, has served as a retreat to relax with family and friends and entertain business associates. Now, said Crawford, it's time for someone else to turn their fantasies into reality. He is providing owner financing to any qualified bidder. The terms include a 25 percent down payment and 10 percent note payable over 10 years.
 Crawford has used the Texas ranch to host the heads of corporations, royalty, and visiting dignitaries. Over the years, his guests have included Louisiana Gov. Edwin Edwards, former Texas Gov. John Connally, and legendary football coach Bum Phillips.
 In March, J.P. King successfully auctioned Calumet Farms, the world- class thoroughbred racing and breeding facility in Lexington, Ky., for over $19 million. Perot and Farish inquired about bidding on Calumet.
 On the basis of that auction, Crawford chose the 77-year-old real estate marketing firm to sell his ranch using the "absolute" auction method. "With this auction, I'll let the marketplace tell me what Crawford Farms is worth," he said.
 The auction is scheduled to be held in Cutter's Cantina, which is part of the elaborate cutting horse arena. Cashier's checks for $250,000 are required to bid.
 Immediately following the auction of Crawford Farms, J.P. King will separately auction Don Crawford's collection of 17 rare Belgian-made Browning superposed over and under guns, which will be sold individually.
 The ranch has thousands of features, including these highlights:
 -- 3,000 acres of land including seven miles of paved road.
 -- Spanish-style hacienda main house with 40-foot ceilings, lagoon swimming pool and four-story observation tower with several gaming tables.
 -- One of the world's finest horse show arenas and the Cutter's Cantina 100-seat lounge with 42-foot bar and bleacher seating for 3,600.
 -- The versatility to raise all types of horses, cattle and livestock.
 -- 1,200-acre trophy game and hunting preserve stocked with exotic game such as axis, fallow, silka and white tail deer, elk and European red stag. Also includes turkeys, javelina, dove and quail.
 -- Seven miles of water frontage, two trophy bass lakes and two catfish lakes.
 -- Six three-bedroom guest houses and numerous suites and staff quarters. The ranch accommodates 68 overnight guests in style. Over 1,000 people can be entertained on the huge patio and surrounding swimming pool with waterfall.
 "Crawford Farms is a Fantasy Island for today's cowboy, whether as a corporate retreat or for private play," said Bone. "It's a monument to the ambition and extravagance of Texas itself."
 Bidders interested in Crawford Farms and Crawford's gun collection need to call Bone at 212-230-2121. For an auction brochure, call the J.P. King Auction Company, 800-358-KING.
 -0- 5/20/92
 /CONTACT: Peter Engel of Lobsenz-Stevens, 212-684-6300, for J.P. King Auction Company/ CO: J.P. King Auction Company ST: Texas IN: SU:


CK -- NYFNS5 -- 2139 05/20/92 07:33 EDT
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Date:May 20, 1992
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