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J.P. King to auction legendary horse farm.

Calumet Farm, the legendary showplace for thoroughbred breeding and racing, will be sold at Absolute Auction to the highest bidder regardless of price, Thursday, March 26 at 11:00 a.m. on the farm's picturesque grounds by J.P. King Auction Company and Swinebroad-Denton, Inc.

The farm, founded more than half a century ago by Warren Wright Sr., is home to eight winners of the Kentucky Derby, six Horse of the Year selections, and has won more than 500 stakes races. Whirlaway, Citation, Alydar, and Criminal Type are just a few of the thoroughbreds raised and trained at Calumet.

"The highest bidder for Calumet Farm will own the most prestigious, worldrenowned landmark in the 'Sport of Kings,'" said William Bone, vice president of J.P. King Auction Company in New York. "61 years of fine tradition and excellence in American culture are being offered, along with the opportunity to carry these treasures into a new era."

Judge Joseph Lee, a Federal bankruptcy judge in Lexington, fixed the time of the sale after several months of bankruptcy proceedings. Calumet Farm declared bankruptcy in July 1991. It was known for having a profitable and debt-free operation throughout its existence. The court has ordered that the farm be sold to the highest bidder. A $500,000 cashier's check must be filed in advance to bid.

Calumet Farm is a highly developed, impeccably well-maintained operation with facilities for all facets of the thoroughbred racing industry. On its 843 acres, there are nine residences including a 14-room main residence, 15 barns with a total of 236 stalls, 14 special purpose buildings including a state-of-the-art equine veterinary/surgical center, 350,000-gallon water therapy complex, and employee recreation center. The farm also touts its own three-quarter mile training track and three-quarter mile turf course. Calumet is known worldwide for its beauty with lush Bluegrass, freshly painted white fences, and manicured properties and landscape, accented by blooming Dogwoods.

"We have received overwhelming interest internationally concerning the auction of Calumet," said Bone. "When auction day comes, we expect to have every major player in thoroughbred racing under the tent to place their bid. We also expect many who are not known for thoroughbred expertise but desire to own horse racing's undisputed empire to attend," he said.
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Title Annotation:Calumet Farm
Publication:Real Estate Weekly
Date:Mar 18, 1992
Words:377
Previous Article:James M. Orphanides.
Next Article:3 leases signed at 450 Lex.


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