SOURCE: Woltz & Associates

Woltz & Associates

November 16, 2010 15:54 ET

Real Estate Auction: Land Across River From Jamestown Colony Sells for $7.089 Million

JAMESTOWN, VA--(Marketwire - November 16, 2010) - The land across the river from the Jamestown colony sold for $7,089,000 Monday evening when a bidder from Colorado emerged as the winner of a Woltz & Associates auction of the land.

The auction attracted more than 100 people, including 30 registered bidders from four states. The land -- approximately 1,689 acres -- sold as an entirety, according to Jim Woltz, president of the auction company.

"We had a great crowd with active bidding that continued an hour and twenty minutes," said Woltz. "While we offered the property in five tracts, the interest in the entire property was stronger. One just never knows which way that will go in a given sale, but by offering it both ways, we ensure that we reach a broader base of buyers. That translates into more competition and stronger prices."

The property had become known as Swann's Point after 24 colonists followed William Swann to the land in 1635. The land looks surprisingly like it did in 1635, with almost 370 acres used for farming and much of the land consisting of woodlands. It includes more than three miles of frontage on the James River and on the navigable Gray's Creek.

"It's a real privilege to sell a property with so much historical significance. It's quite a feeling to realize you're standing on the same ground where some of our nation's first settlers walked," said Woltz.

Upcoming Woltz auctions include two industrial buildings in Walnut Cove, NC (Dec. 1), and 115 acres in Madison County, Va. (Dec. 9).

Individuals interested in additional information about the auction may contact the company at 800-551-3588 or visit

Woltz & Associates is a leading auctioneer of high-value properties, including timberland, farmland, homes and commercial properties throughout the nation. More auction information.

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