Kluge Estate Goes Under the Hammer, Disappoints Owners

Winery and Vineyards of Kluge went under the hammer after making an unsuccessful attempt to be sold at an auction this week, due to the unwillingness of bidders to start with the opening bid of $19 million was in the hands creditors.  The auctioned property has 907 acres in southern Albemarle, including 164 acres vineyards, farm Shop and tasting room of wine, production buildings, the offices, six residences of employee, and a former carriage museum of 34,000sq/ft, including a barrel storage cave. The Kluge Estate has to pay a loan of $34.8 million to Farm Credit Bank which was taken in 2007.

Patricia Kluge had struggled and worked hard for the wine business of Virginia, and the winery is the largest in the region and very popular for its traditional tasting in a relaxed, nice atmosphere of quiet wooded area. In spite of its growing popularity the business did not pick up properly.

The troubled business of Patricia Kluge was facing a legal notice to a debt of $34,785,000. So the initial step was to dismantle the business to their disappointment. The Albermarle House, a mansion of 45-room, fetched $15.2 million auctioned off this year. Patricia Kluge’s jewelry was also auctioned to fetch $5milllion., John Kluge, her second husband died in September.

The other auction is scheduled to take place this Saturday,  to sell 15,000 cases of wine from the Kluge Estate.

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