Worldwide auction held in Decatur

Dorothy Mae Peterson's collection of antiques draws buyers from around the world, both online and in person

Jim Ritchie, chief auctioneer and co-founder of Kruse Energy Equipment, LLC., took bids during the Dorothy Mae Peterson estate auction on Sunday afternoon. The auction was conducted simultane- ously live and online in more than 70 countries around the world. The front row was occupied by five employees watching computer screens and placing bids for online bidders.

Jim Ritchie, chief auctioneer and co-founder of Kruse Energy Equipment, LLC., took bids during the Dorothy Mae Peterson estate auction on Sunday afternoon. The auction was conducted simultane- ously live and online in more than 70 countries around the world. The front row was occupied by five employees watching computer screens and placing bids for online bidders.

Wednesday, September 26, 2012

— More than 850 bidders from 70 countries participated in the Dorothy Mae Peterson estate auction in Decatur last weekend.

“The auction was a success,” said Michael Whelchel, CEO of Estate Road Show, which worked with Kruse Energy & Associates to handle the auction.

Dorothy Mae Peterson was the sister of the late Lloyd Peterson, founder of Peterson Farms. She died on March 31 at the Circle of Life Hospice in Springdale, according to her obituary.

Dorothy Mae was born in 1922 and lived through the Great Depression. She filled several houses and numerous outbuildings with her lifetime collection of antiques that included furniture, majolica, art prints and lamps.

Whelchel said he couldn’t comment on the amount the auction brought in. He did note that it was rated the number one auction in Arkansas last weekend, according to Auction Zip Live monitors.

Whelchel said he was surprised at the number of peoplewho bid online. Usually online bidders account for about 10 percent of the sales, but during this particular auction they accounted for 50 percent of the sales, he said.

Whelchel said he was even more surprised by the amount of online bidders in Decatur and the surrounding area.

The auction industry is facing the same choices about online shopping the retail industry faced 10 years ago, according to Whelchel. Buyers are turning to online auctions because of considerations such as convenience, time and gas money, Whelchel explained.

“It’s tough to give up a whole Saturday, especially if you only want three things,” Whelchel said.

Smart-phones and tablets also make it possible to bid on items from a ball game or from the golf course, he said.

It took the auction companies three months to prepare for the auction, according to Ty Young, who works for Kruse Energy.

Dorothy Mae’s home and surrounding property are also up for sale. Crye-Leike Real Estate signs advertised the property during the auctions.

Delton Williams of Crye-Leike Realty in Gentry confirmed the property was for sale, but said he was still working with Dorothy Mae’s nephew, Blake Evans, to set a price.

Williams said he expected to have a price by Monday evening or early Tuesday morning. The property, which includes at least six houses and numerous outbuildings, will be divided between the east and west half of the block, he said.

More than 3,200 acres of land owned by Peterson Farms’ cattle operation, L&L Farms, was to be auctioned off Tuesday, after press time.

The auction was held at one of the farms located on Mt. Olive Road, near the Decatur Northside Elementary School.

The property was subdivided into 38 parcelsranging in size from 5 to 340 acres, according to Williams & Williams Real Estate Auctions website.

The area of the property for sale was about five square miles - twice the size of the city of Decatur. It was comprised of four farms near Decatur located on Mt. Olive Road,Turkey Ridge Road, Y City Road and Shelley Farm Road.

Minimum bids were set at $500 for some properties and $5,000 a parcel for others. The auction company has detailed information on its website, http://williamsauction.com.

News, Pages 1 on 09/26/2012