Magness Lake, in Heber Springs, is a magnet for swans
Photographer Brian Chilson, on the scene with David Koon, tells me auctioneeers have received a bid of $260,000 for Osborne's main residence; $150,000 for a smaller house on the east side, and $195,00 for a third house on the west. The bidding is being held open, however, for possible better bids.
We'll have a summary later today. Future auctions are scheduled of other Osborne property.
UPDATE: The real estate auction is over. The main house, 11,559 square feet on 1.9 acres, sold for $265,000. The house on the west, 5,100 square feet on 2 acres sold for $195,000. The house on the east, 5,342 square feet on 2 acres sold for $150,000. Some 3,000 or 4,000 books are currently being auctioned.
UPDATE II: David Koon tracked down two of the buyers. Bahram Ghanaie placed the winning bid on the middle house on behalf of Kourosh Malek, owner of the Building and Utility Company, which builds apartment complexes in subdivisions and is headquarted in Redfield. Ghanaie thought he'd gotten a good deal. "For 11,000 square feet it is nothing," he said.
Linda Newkirk, state executive director for the Farm Service Agency, won the auction on the east house. She and her husband Ray Camp live next door and have long been friends with the Osbornes.
CORRECTION: A 10 percent "buyer's premium" was added to the "gavel price" listed above for all houses, or $61,000 more for all three houses.
I'm not saying that, Bow ties. I am simply saying that that Arkansas law has…
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