School’s Wellington property on auction block Tuesday
After straightening out some issues with streets and alleys that hadn’t been vacated, the auction of the school-owned Wellington property will be on the auction block Tuesday morning.
The auction will begin at 10:30 a.m. in the auditorium at Chase County Schools.
John Engbrecht of Colson Agency, which is handling the sale for the school, said the property will be sold in three segments.
First, bids will be taken on the football field (parcel #1). The second parcel (#2) including the buildings and bus barn will be auctioned next.
Then, both parcels will be offered for sale as one unit, with the bidding to start higher than what the two individual parcel bids add up to at that point, Engbrecht said.
As long as bids on both individual parcels and the entire unit continue to increase, the auctioneer will go back through the same process, taking bids on parcel #1, then parcel #2 and, finally, the entire unit, he said.
Engbrecht said once they no longer receive a bid on the full unit (both parcels together) that exceeds the other two combined, they’ll take the whole unit off the table.
Bidders will then have one last chance to bid on parcel #1 (football field) and parcel #2 (buildings).
Engbrecht said they will be clear during the auction on the process.
“You won’t be out (of the bidding) until you say you’re out. We are going to go back and forth until we achieve the highest price whether as a single unit or in a combination of the two parcels,” he said.