SOURCE: J. P. King Auction Company

J. P. King Auction Company

January 29, 2013 12:11 ET

Paragon Jewel Estate to Sell at Bank-Ordered Absolute Auction

The Mountaintop, Five-Bedroom Estate Will Sell at an Absolute Auction With No Minimums and No Reserves Through J. P. King Auction Company

BLUEFIELD, WV--(Marketwire - Jan 29, 2013) - Located atop the East River Mountain in Bluefield, W.V., the Paragon Jewel Estate will sell at absolute auction with no minimum and no reserve on February 26. J. P. King Auction Company will conduct the sale of the five-bedroom, seven-bathroom home on behalf of the Ohio Valley Bank Company.

"Being a bank-owned property, we feel that the best way to expose a property of this type and quality is through the marketing capabilities of J. P. King," said Rich Mahan, the Executive Vice President of the Ohio Valley Bank Company. "Paragon Jewel is a beautifully unique home with breathtaking views, a convenient location in an exclusive area and it has a layout that would make a great property for either a family home, family retreat or a corporate retreat."

Perhaps the estate's most charming feature comes from its location. The Paragon Jewel Estate provides panoramic, mountaintop views from the floor-to-ceiling windows in the dining room and living room, along with plenty of windows throughout the home to take in its surroundings. The living room also has a double-sided stone fireplace and an underwater view to the home's second-story indoor pool. The 38-foot pool is accompanied by a hot tub and sauna.

The master bedroom features a private balcony that overlooks the estate's 30 acres as well as his-and-hers closets and bathrooms. Surrounded by the recreation Mercer County has to offer, the Paragon Jewel Estate features its own recreational opportunities with its indoor basketball and racquetball court.

"It's in reasonably good shape," Mahan said, "but it does need some updating and renovation to bring it to the exclusive luxury property it could be. We elected to sell it at absolute auction so each bidder can estimate the work they would want done and bid accordingly."

The home, which is located at 1 Paragon Jewell Street, will be open for viewing February 16-17 and February 23-25, and the auction will take place on Tuesday, February 26 at 11 a.m. at the Quality Hotel and Conference Center. Financing for interested buyers is available through Ohio Valley Bank. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.

About J. P. King: J. P. King Auction Company specializes in high-value properties such as luxury homes, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Wyoming, Georgia, Florida and Washington.

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