Wines & Vines Home
   
 
Welcome Guest
LOGIN |  CREATE ACCOUNT
 
ADVERTISEMENT
 
 
 
11.06.2013  
 

Pheasant Ridge Winery Sold at Auction

Texas winery and land brings in $710,000 at today's sale

 
by Linda Jones McKee
 
 
“pheasant
 
Parcels One and Two are planted to a variety of wine grapes at Pheasant Ridge Winery in Lubbock, Texas. Click photo for a larger view.
Lubbock, Texas—Pheasant Ridge Winery in Lubbock fetched a total of $709,682 at auction early this afternoon. There were 14 registered bidders among the 50-plus people who attended the auction, conducted by the auction house Williams & Williams, at the winery facility in the Texas High Plains AVA. Additional bidders took part in the sale online.

The 122-acre property includes approximately 35 acres of vineyard and was divided into four parcels for the auction. One bidder bought the first two parcels for a total of $650,460, and a second bidder bought both the third and fourth parcels for a combined $59,220. The first parcel of 11 acres sold for $500,000 and included the 5,800-square-foot winery building, which has a tasting room, showroom, office, barrel room and wine-production area as well as the winery equipment and wine inventory. Some Cabernet Sauvignon and Sémillon grapes are planted on this parcel.

The second parcel sold for $150,460 and included 49 acres, the vineyard equipment and the bulk of the vineyard acreage. The vineyard, one of the first in Texas to be planted with vinifera grapes, is comprised of Cabernet Sauvignon, Pinot Noir, Cabernet Franc, Merlot, Ruby Cabernet, Chardonnay and Chenin Blanc and has two water wells (each approximately 250 feet deep) to irrigate the vines.

Both the third and fourth parcels have no water source, and the buyer must drill new wells. The third parcel of 32 acres sold for $23,338, and the fourth parcel with 30 acres went for $35,882. Currently this land is either tilled or unimproved.

According to Amy Bates, president of BuckinghamBates Global Marketing, a management consulting company that works with the auction house, Williams & Williams will not disclose the names of the successful bidders until the sale is completed in 30 days. However, Bates did tell Wines & Vines that the purchaser of the winery and vineyard property plans to continue to operate the facility as a winery. The buyer of the third and fourth parcels has not determined what he or she will do with the land.

As previously reported by Wines & Vines, Bobby and Jennifer Cox originally planted the vineyard at Pheasant Ridge Winery in 1979 and started the winery in 1982. William E. Gipson, a geologist who was president of Pennzoil Offshore Gas Operators in Houston, Texas, became the owner of the winery in 1992. Gipson is now retired, and the family decided to find a new owner for the winery by selling it at auction.

SHARE »
Close
 
Currently no comments posted for this article.
 
CURRENT NEWS INDEX »


 
Wines & Vines Home
 
866.453.9701 | 415.453.9700 | Fax: 415.453.2517
65 Mitchell Blvd., Ste. A San Rafael, CA 94903
info@winesandvines.com
Wine Industry Metrics
 
Off-Premise Sales » Month   12 Months  
March 2015 $622 million
7%
$7,995 million
5%
March 2014 $582 million $7,588 million
     
Direct-to-Consumer Shipments » Month   12 Months  
March 2015 $252 million
19%
$1,863 million
14%
March 2014 $213 million $1,634 million
     
Winery Job Index » Month   12 Months  
March 2015 356
22%
243
16%
March 2014 292 210
     
 
MORE » Released on 04.15.2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Direct To Consumer
Wine Shipping Report
2015
 
Download full report »
 
 

Practical Winery & Vineyard Library
 
Search the PWV archive »
 
 

CALENDAR
  • April 17-19
     
    Earth Day Food & Wine Festival
     
  • April 21
     
    Ahead of the Curve
     
  • April 25
     
    Vineyard Mechanization Workshop
     
  • April 25-26
     
    Vineyard to Vintner in Stags Leap
     
  • MORE »
 

READER COMMENTS
 
Article: Is Organic Grape Growing Possible in the East? »
 
FWIW, We make a few wines from a certified Organic vineyard growing cabernet franc, merlot,...
Reader: southoldfc
 
Article: Specialty Tanks Encourage Oak Extraction »
 
According to the manufacturer, the logs are made through compression and not with a binding...
Reader: Andrew Adams
 
Article: Specialty Tanks Encourage Oak Extraction »
 
What is the bonding agent of the Pressed Oak Logs?
Reader: Guest
 
Article: Is Organic Grape Growing Possible in the East? »
 
Some Long Island, NY, vineyard farmers are already using nearly organic methods. They have worked...
Reader: envcat
 
Article: Loosening AVA Regulations »
 
When I see 'Napa Valley'on a wine label, it doesn't only suggest the flavors I...
Reader: Guest
 
 


Directory/Buyer's Guide — Your Wine Industry Marketplace
 
 
WINERY SEARCH
 
 
Advanced Search »
SUPPLIER SEARCH
   by Product
 by Company Name or Brand
 
Browse by Category »
2015 Directory/Buyer's Guide
The Wines & Vines Directory and Buyer's Guide
 
 
EXPANDED ONLINE SEARCH INCLUDED WITH PURCHASE
 
ORDER NOW »
 
LEARN MORE »
 
 
Wines & Vines Magazine
 
 
LEARN MORE »
 
SUBSCRIBE »
 
Digital Edition Now Available!
Wines & Vines Digital Edition Now Available
 
LEARN MORE »
 
ORDER NOW »
 
 
The Wines & Vines Online Marketing System
 
The Industry Standard winery marketing application
 
FREE LIVE DEMO »
 
VIEW VIDEO »
 
 
 
 
Latest Job Listings
 Hospitality Coordinato...
 Saint Helena, CA
General Administration and
 Harvest Intern
 Sebastopol, CA
Cellar, Lab and Production
 Marketplace Manager
 Kenwood, CA
DTC, Tasting Room and Retai
 Facilities Maintenance
 San Luis Obispo, CA
Cellar, Lab and Production
 Pt Tasting Room Associ...
 Gaston, OR
DTC, Tasting Room and Retai
 Consummate Store Manag...
 Chicago, IL
DTC, Tasting Room and Retai
 Accounting Manager
 Napa, CA
Finance
 Wine Buyer Needed
 New York, NY
Sales and Marketing
 Tasting Room/Guest Rel...
 St. Helena, CA
DTC, Tasting Room and Retai
 Sales Representative O...
 West Sonoma County, CA
Sales and Marketing
 
More Job Listings >>
Follow Us On:
 
 





Home  |  About Us  |  Editors  |  Subscribe  |  Print Edition  |  Digital Edition

Advertise  |  Site Map  |  Contact Us  |  Privacy Policy
 
 
Copyright © 2001-2015 by Wine Communications Group, Inc. All Rights Reserved.
No material may be reproduced without written permission of the Publisher.
Wines&Vines does not assume any responsibility for any unsolicited manuscripts or materials.